Business
Long-term rate hikes effects will be “more powerful” than people think: Poloz
By Nojoud Al Mallees, The Canadian Press on November 24th, 2022
OTTAWA – The full effects of interest rate hikes have yet to be felt – and will be “even more powerful” than many anticipate, former Bank of Canada governor Stephen Poloz says. Speaking at a conference in Ottawa hosted by Western University’s Ivey Business School, the former governor warned today’s economy is more sensitive to ... Read More »
Be the first to comment!EU nations fail to close rift on gas prices as cold sets in
By Raf Casert, The Associated Press on November 24th, 2022
BRUSSELS (AP) – On winter’s doorstep, European Union nations again failed to bridge bitter disagreements over a natural gas price cap Thursday as they struggle to effectively shield 450 million citizens from massive increases in their utility bills. An emergency meeting of energy ministers only showed how the energy crisis tied to Russia’s war in ... Read More »
Be the first to comment!Technology sector helps lead S&P/TSX composite higher in late-morning trading
By The Canadian Press on November 24th, 2022
TORONTO – Gains in the technology sector helped Canada’s main stock index gain nearly 100 points in late-morning trading. The S&P/TSX composite index was up 80.90 points at 20,363.16. The gain came with U.S. stock markets closed for the Thanksgiving holiday. The Canadian dollar traded for 74.99 cents US compared with 74.67 cents US on ... Read More »
Be the first to comment!Effect of rate hikes on economy will be more powerful than people think: Poloz
By The Canadian Press on November 24th, 2022
OTTAWA – Former Bank of Canada governor Stephen Poloz says the effect of interest rate hikes will be larger than people anticipate. Speaking at a conference in Ottawa hosted by Western University’s Ivey Business School, the former governor warns today’s economy is more sensitive to interest rates than it was 10 years ago. Poloz estimates ... Read More »
Be the first to comment!How the elimination of interest on federal student loans could give graduates a boost
By Adena Ali, The Canadian Press on November 24th, 2022
Lee Nisar has racked up about $50,000 in student loans. “I avoid looking at my student loan account for my own well-being most of the time,” said Nisar, who is a master’s student at Toronto Metropolitan University. While loan payments won’t begin until after she graduates, she is preparing for when that time comes. “I’m ... Read More »
Be the first to comment!Ambassador Bridge blockade escalated economic threat from ‘Freedom Convoy’: Deputy PM
By The Canadian Press on November 24th, 2022
OTTAWA – Finance Minister Chrystia Freeland says the economic threat to Canada escalated “exponentially” when “Freedom “Convoy” protesters blocked a key trade hub between the United States and Canada in early February. Freeland, who is also the deputy prime minister, is testifying today at a public inquiry investigating the Liberal government’s use of the Emergencies ... Read More »
Be the first to comment!Statistics Canada says job vacancies rose 3.8 per cent in September
By The Canadian Press on November 24th, 2022
OTTAWA – Statistics Canada says the number of job vacancies was up 3.8 per cent in September at 994,800. The agency says the month-over-month increase was largely attributable to seasonal variations, as job vacancies typically peak in September. The number of vacancies in the accommodation and food services sector rose 12.0 per cent to 152,400, ... Read More »
Be the first to comment!Carbon pricing good idea complicated by rising energy costs: Nova Scotia advocate
By Keith Doucette, The Canadian Press on November 24th, 2022
HALIFAX – An affordable energy advocate says the imposition of consumer carbon pricing in Nova Scotia is a good idea, but adds that rising energy costs continue to pose problems for people with lower incomes. Brian Gifford, chair of the Affordable Energy Coalition of Nova Scotia, believes most people will be helped by the federal ... Read More »
1 responseRetailers look for Black Friday comeback as inflation has shoppers hunting for deals
By Brett Bundale, The Canadian Press on November 24th, 2022
Annie Titheridge’s plan is to arrive at the mall before it opens, buy gifts for everyone on her list and beat the afternoon rush-hour traffic home. “My husband and daughter think I’m mad going shopping on Black Friday,” said Titheridge, who will drive from King City north of Toronto to the Yorkdale Shopping Centre for ... Read More »
1 responseInflation relief measures should be well targeted and temporary, says Macklem
By Nojoud Al Mallees, The Canadian Press on November 23rd, 2022
OTTAWA – Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor which of two options is a better way to deliver relief without fuelling inflation: ... Read More »
1 responseInflation relief measures should be well-targeted and temporary, says Macklem
By The Canadian Press on November 23rd, 2022
OTTAWA – Bank of Canada governor Tiff Macklem says governments looking to provide inflation relief to Canadians should choose measures that are well-targeted and temporary. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor which of two options is a better way to deliver relief without fuelling inflation: direct ... Read More »
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