Business
What the latest Bank of Canada rate hike means for inflation, consumers
By Tara Deschamps, The Canadian Press on December 7th, 2022
The Bank of Canada hiked its key policy rate by half a percentage point to 4.25 per cent – the highest it’s been since January 2008 – on Wednesday in its final rate decision of a year that has been marked by stubbornly high inflation and rapidly increasing interest rates. The bank, which has made ... Read More »
1 responseUS to boost natural gas exports to UK in energy partnership
By Matthew Daly, The Associated Press on December 7th, 2022
WASHINGTON (AP) – The United States will increase exports of liquefied natural gas to Britain under a new agreement calling for the two countries to work together to boost energy security and drive down prices following Russia’s invasion of Ukraine. President Joe Biden and British Prime Minister Rishi Sunak announced the agreement Wednesday as part ... Read More »
1 responseS&P/TSX composite edges lower as price of oil falls, U.S. stock markets also down
By The Canadian Press on December 7th, 2022
TORONTO – Canada’s main stock index edged lower in late-morning trading, as the price of oil fell and losses in the energy sector weighed on the Toronto market, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 22.96 points at 19,967.21. In New York, the Dow Jones industrial average was down ... Read More »
1 responseMint issues black-ringed toonie in memory of Queen Elizabeth II
By The Canadian Press on December 7th, 2022
The Royal Canadian Mint is issuing a new black-ringed toonie to honour Queen Elizabeth II. The mint says the coin’s black outer ring is intended to evoke a “mourning armband” to honour the queen, who died in September after 70 years on the throne. The mint says it will start to circulate nearly five million ... Read More »
1 responsePressure building on suppliers to reduce emissions: BMO Climate Institute
By The Canadian Press on December 7th, 2022
TORONTO – The head of the BMO Climate Institute says small and medium-sized businesses should start thinking about building climate plans into their operations to stay competitive as emission expectations begin to shift. Susan McGeachie says large companies are increasingly looking at the emissions profile of their suppliers, providing both risks and opportunities for smaller ... Read More »
1 responseAlberta, Saskatchewan chiefs call for sovereignty acts to be withdrawn
By The Canadian Press on December 7th, 2022
OTTAWA – First Nations chiefs in Alberta and Saskatchewan are calling for their provinces to toss proposed legislation they say is inherently undemocratic, unconstitutional and infringes on Indigenous rights. The chiefs are putting forward an emergency resolution at the Assembly of First Nations special assembly to reject sovereignty bills that are before both provincial legislatures. ... Read More »
Be the first to comment!Bank of Canada hikes key rate by half percentage point, signals possible pause
By The Canadian Press on December 7th, 2022
OTTAWA – The Bank of Canada hiked its key interest rate by half a percentage point Wednesday to 4.25 per cent ““ the highest it’s been since January 2008. After its seventh consecutive increase since March, the central bank signaled it may pause its aggressive rate hike cycle. “Looking ahead, [the] governing council will be ... Read More »
Be the first to comment!Bank of Canada raises key interest rate by half percentage point
By The Canadian Press on December 7th, 2022
OTTAWA – The Bank of Canada is raising its key interest rate by half a percentage point, bringing it to 4.25 per cent and the highest it’s been since 2008. It’s also signaling it may pause its aggressive rate hike cycle after today. In a news release, the central bank says there’s “growing evidence” that ... Read More »
1 responseRenting increased by three times the rate of home ownership in last decade: RBC
By The Canadian Press on December 7th, 2022
TORONTO – Royal Bank of Canada economists say the country has reached a record number of renters as the number of people renting has increased at three times the rate of homeowners in the past decade. Assistant chief economist Robert Hogue and economist Rachel Battaglia say in a report that two-thirds of Canadian households owned ... Read More »
1 responseStocks waver on Wall Street following a 4-day losing streak
By The Associated Press on December 7th, 2022
NEW YORK (AP) – Stocks wavered between small gains and losses in early trading on Wall Street, leaving prospects uncertain for the market to break a four-day losing streak. The S&P 500 was down 0.2% in the early going Wednesday and the tech-heavy Nasdaq fell 0.6%. The Dow Jones Industrial Average of 30 major blue ... Read More »
1 responseChina’s Xi visits Saudi Arabia to cement Gulf Arab ties
By Jon Gambrell, The Associated Press on December 7th, 2022
DUBAI, United Arab Emirates (AP) – Chinese leader Xi Jinping arrived in Saudi Arabia on Wednesday to attend meetings with oil-rich Gulf Arab nations crucial to his country’s energy supplies as Beijing tries to revive an economy battered by its strict coronavirus measures. Saudi and Chinese flags flew Wednesday in Riyadh, the Saudi capital, as ... Read More »
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