Canadian Economy: Latest News

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25.06.2022 / 16:39

Inflation keeps rising, will recession follow? Experts say ‘batten down the hatches’

The Bank of Canada’s efforts to tamp down on persistent inflation are increasing the odds of pushing the economy into a recession in the next year, according to some economists.

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Bank of Canada expected to hold interest rate again as inflation cools

The Bank of Canada is expected to hold its key interest rate steady this week as inflation continues to slow, despite other data suggesting the economy is still running hot.

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Canadians think tipping is ‘getting out of control,’ new poll suggest

new polling from the Angus Reid Institute appears to show.“People feel like tipping is getting out of control,” Angus Reid Institute Research Director David Korinski told The Roy Green Show on Sunday.“I think that it’s compounded by the fact that everything is more expensive.” Read more: 1 in 4 Canadians can’t afford $500 unforeseen expense as inflation bites: report Read next: Part of the Sun breaks free and forms a strange vortex, baffling scientists While 62 per cent of respondents say they’re being asked to tip more, one-in-five also reported leaving a tip of 20 per cent or more the last time they dined out, suggests the polling, which was released Feb. 16.“When you get the tipping machine, instead of 12, 15, and 18 per cent for the suggested tip, it now says 18, 24, and 30 per cent.

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Canadians may see a 0.5% interest rate hike this week thanks to ‘persistent’ inflation

The Bank of Canada is likely to hike its benchmark interest rate another half a percentage point on June 1, further raising the cost of borrowing to tackle “persistent” inflation levels not seen in 30 years, economists predict.

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Bank of Canada due for ‘oversized’ 50-basis-point interest rate hike: economist

The Bank of Canada is likely to hike its key overnight rate by half a percentage point on Wednesday, the Conference Board of Canada’s chief economist says, as the think tank’s economic forecast predicts home prices could start to drop next year.

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Bank of Canada keeps rates at 0.25%, warns of negative growth in early 2021

Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent.The central bank says it expects the Canadian economy to contract in the first quarter of 2021.

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Bank of Canada widely expected to keep rates on hold at 0.25%

interest-rate decision, offering a glimpse into its outlook for COVID-19 recovery.The Bank of Canada said in October the country had been spared from a worst-case economic scenario, but it still didn’t see a recovery taking hold until at least 2022.Since then, case numbers have grown and severe restrictions put in place in parts of the country to curb the spread of COVID-19.Given the economic conditions, there is widespread expectation that the Bank of Canada will decide today to keep its trendsetting policy rate at 0.25 per cent.

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Markets bet on Bank of Canada ‘micro rate cut’ amid tightening coronavirus restrictions

Bank of Canada cutting interest rates closer to zero, as tightening economic restrictions to contain a second wave of COVID-19 cases offset optimism that activity will rebound later this year.Interest rates were thought to have hit rock bottom in Canada after they were slashed 150 basis points last March to a record low of 0.25 per cent, a level the Bank of Canada considered the effective lower bound. But in November, Governor Tiff Macklem said a lower floor could allow Canada’s central bank to ease further if the economy weakens.Data on Friday showed that Canada shed jobs in December for the first time in eight months.

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Newfoundland needs help as coronavirus cuts off tourism, fishing work: premier

Newfoundland is facing troubling economic times because of the coronavirus pandemic and without help from the federal government, things will likely only get worse, says the premier.In an interview with The West Block‘s Mercedes Stephenson, Newfoundland and Labrador Premier Dwight Ball said the province is struggling under the combination of low oil prices, a border shutdown cutting off vital tourism and coronavirus restrictions crippling the fishing season and processing plants.“It’s been a tough start to 2020 for Newfoundland and Labrador,” said Ball.“What we need right now, is support from the federal government.”Newfoundland is one of several provinces with rich natural resources that are not eligible for transfer payments under the

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Canadians want a four-day work week. But would it work?

New Zealand mulls 4-day workweek post-coronavirus. Could that work in Canada? But it was an intriguing enough idea that Prime Minister Justin Trudeau was asked if the idea would work in Canada, especially now that many businesses are reopening with shorter hours due to the novel coronavirus pandemic.“I think there are a lot of people thinking creatively about what the post-COVID world could look like,” he said.

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