Canadian and international business news relevant to local business leaders here in Ottawa. Includes stories related to inflation, interest rates, employment, major government announcements and more.
"Canadian inflation is running more than three times faster than target,'' Desjardins' head of macro strategy, Royce Mendes, wrote in a note to clients Monday.
"We need Canadians to be able to seize these opportunities and to have the tools, training and resources they need to thrive," Employment Minister Carla Qualtrough said.
"...Markets are struggling to predict how we land the economy, do we land it with a slight recession? And our message today is, it could go either way, it's 50-50," says RBC chief executive Dave McKay.
StatsCan said employers were seeking to fill more than one million positions at the beginning of March, up 22.6 per cent from February and 60.5 per cent from the prior year.
A new survey by the Conference Board of Canada indicates consumer confidence decreased 11.7 points in May – the largest monthly drop since the pandemic's onset.
A new report says digital technology has become so widespread at such a rapid pace that Canadians have little idea what information is being collected about them or how it is used.
Bank of Montreal chief economist Doug Porter said it's highly unlikely Canadians are in for a double-digit, '80s-style interest rate shock any time soon.