Ottawa’s annual inflation rate jumped to 2.5 per cent in December, one of the highest rates of any major Canadian city, Statistics Canada said Friday
The Bank of Canada left its trend-setting interest rate unchanged at 1.75 per cent Wednesday as the sharp decline in oil prices temporarily dims its economic outlook for the coming months
Thanks to the strengthened economy, the bank has been on a gradual rate-hiking path for more than a year and has already raised the benchmark five times since the summer of 2017
Bank of Canada governor Stephen Poloz wants Canadians to get used to the idea of three per cent interest rates as the new normal
The central bank delivered a quarter-point rate increase for the fifth time since the summer of 2017 to bring the benchmark to 1.75 per cent. The rate is now higher than it's been in about a decade.
Locally in Ottawa, the annualized inflation rate rose to 2.5 per cent in March, up from 2.2 per cent in February.
Central bank couldn't ignore strong 2017 economic data, even as it acknowledged the risks about NAFTA's renegotiation.
Sky-high debt loads are one of the central bank governor's top concerns, he said after data showed the amount Canadians owe relative to their income hit a new high in the third quarter.
Cybersecurity experts fear government and corporate defensive capabilities are not keeping pace with growing ranks of sophisticated hackers, a sentiment underscored by recent events.
Shopify's CEO addresses claims from what he called a "short-selling troll" and other stories to watch in Canadian business this week.