A surprise jump in the unemployment rate in November drove the loonie lower on Friday and raised odds among markets and some big banks for a second consecutive oversized interest rate cut from the Bank of Canada. Canadian employers collectively added some 51,000 jobs in November, Statistics Canada said, but the unemployment rate jumped to
Bank of Canada deputy governor Rhys Mendes says allowing for a period of price declines may sound tempting, but it would ultimately be more painful for Canadians. Mendes made the comments in a speech Tuesday in Charlottetown on the importance of keeping inflation at the two per cent target.His speech comes as the Bank of
Pierre Trudeau famously described living next to the United States as “sleeping with an elephant,” a sentiment his son is intimately aware of amid this year’s tumultuous and polarized American election. Prime Minister Justin Trudeau has likely reflected on his father’s words about Canada’s proximity to the U.S.: “one is affected by every twitch and
Dockworkers across the eastern United States are joining their peers on strike at Montreal ports as a fresh wave of labour action grips North American supply chains. Workers at 36 U.S. ports from Maine to Texas took to the picket lines early Tuesday in a strike over wages and automation.The contract between the ports and
The national unemployment rate ticked higher again in August as the labour market continues to cool, prompting some economists to wonder if the Bank of Canada should be cutting interest rates faster. Statistics Canada said Friday that the unemployment rate rose to 6.6 per cent, up from 6.4 per cent the month before, amid a
After a bitter contract dispute shut down the country’s two major railways, the federal labour board ordered thousands of rail employees back to work on Saturday. Federal Labour Minister Steven MacKinnon asked to send the parties to binding arbitration while an agreement is hammered out between Canadian National, Canadian Pacific Kansas City and the Teamsters
Canada’s labour minister said late Wednesday that “significant issues” remain in negotiations between the country’s two main rail companies and unions, making a nationwide rail shutdown almost certain. Labour Minister Steve MacKinnon spoke to Motorcycle accident toronto today in Calgary following a meeting with representatives of the Canadian Pacific Kansas City Ltd. and the Teamsters Canada Rail
The Bank of Canada is now less concerned about home prices spiking as it lowers its benchmark interest rate, minutes from the governing council’s latest meeting show. Deliberations from the July 24 meeting, where the central bank delivered its second consecutive quarter-point rate cut, were published on Wednesday.The Bank of Canada’s top monetary policymakers discussed
The Bank of Canada will get one final read of inflation figures this week before it has to make its next interest rate decision, with some economists predicting a return to cooling will fuel hopes for another cut. Statistics Canada is set to release its consumer price index (CPI) figures for June on Tuesday.The Bank
Descrease article font size Increase article font size Inflation accelerated in May as the costs of services and groceries ticked up, Statistics Canada said Tuesday. The annual rate of inflation was 2.9 per cent in May, the agency said. That’s up from the 2.7 per cent annual rate in April.Statistics Canada said inflation on services