Former Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation. Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central
An acceleration in the annual rate of inflation to end 2023 won’t be enough to panic the Bank of Canada heading into its first interest rate decision of the year, economists argue, but it won’t hasten the timeline for cuts, either. Statistics Canada said Tuesday that the annual inflation rate ticked up to 3.4 per
Quebec restaurants say they are reeling over last-minute New Year’s Eve cancellations and no-shows. The practice costs tens of thousands of dollars a year and industry leaders say it’s only getting worse, sparking renewed calls for the province to allow restaurants to charge penalties for customers who decline to appear.On New Year’s Eve, restaurateur Constant
Commercial vessels are now able to safely pass through the Red Sea with the help of a new security initiative, the world’s largest shipping firm has announced. Maersk said in a press release Sunday that it has received confirmation that U.S.-led Operation Prosperity Guardian (OPG) has been set up and deployed, allowing commerce to safely
As residents living in a Lower Sackville ballpark prepare for freezing winter conditions in the months ahead, several community members are volunteering both time and funds to lessen the burden. Samantha Banks, vice president of the Gated Community, a group that aims to provide support for residents of the Cobequid Ballfield tent encampment in the
One of Canada’s major banks is forecasting a steeper drop in home prices amid a “sudden surge” of supply in some real estate markets. TD Bank updated its forecast Wednesday, calling for a 10 per cent drop in home prices from their third-quarter level through the early part of next year. In September, it pegged
Prime Minister Justin Trudeau’s Liberal government faces pressures from two ends heading into Tuesday’s fall economic statement. On one end, multiple recent polls show the three-term government’s popularity sliding in the eyes of voters as opposition parties land attacks on the Liberals’ track record.On the other, Canada’s economy is slowing and limiting Ottawa’s capacity to
Maple Ridge, B.C., will be home to a new $1.05-billion lithium-ion battery plant and an anticipated 450 permanent jobs. Prime Minister Justin Trudeau and Premier David Eby made the announcement Tuesday, touting the partnership with battery cell maker E-One Moli as a step towards developing B.C.’s clean economy. 1:19 Trudeau announces new lithium-ion battery plant
Randy Beals has been living in an apartment in the Clayton Park area of Halifax for the past seven years. Following the death of his longtime partner, Lillian, who was diagnosed with pancreatic cancer in April and later died as a result of surgery complications in July, the future of Beals’ living situation has become
Descrease article font size Increase article font size Market watchers are not expecting any further interest rate hikes from the Bank of Canada in the current tightening cycle, according to a survey released Monday. The Bank of Canada’s third-quarter survey of market participants, which includes senior economists and strategists tracking Canadian financial markets, was conducted