The Bank of Canada held its benchmark interest rate steady on Wednesday amid signs that inflation is easing, with officials acknowledging that a rate cut in June is “within the realm of possibilities.” The central bank’s policy rate, which informs lending rates on key products like Canadian mortgages, remains at 5.0 per cent for the
Fears that the spring housing market could “overheat” will be in the background as the Bank of Canada readies for its interest rate decision on Wednesday, experts say. The spring housing market, which kicks off in March, is typically one of the busiest times of the year for home buyers and sellers in Canada.So far
The Canadian unemployment rate jumped up to 6.1 per cent in March amid rapid growth in the labour pool, Statistics Canada said Friday. Canadian employers collectively shed 2,200 jobs last month but employment was little changed in the month, the agency said.Canada’s unemployment rate was 5.8 per cent in February.The spike in the unemployment rate
A new report from the Royal Bank of Canada is painting a bleak picture of just how unaffordable and unattainable buying a home in Vancouver is. The report, which looks at housing trends across the country, found that it has never been as expensive to own a home anytime, anywhere in Canada as it was
The Bank of Canada is warning that waning productivity growth in the country is an “emergency” that can force higher interest rates and limit rising wages for Canadians. Senior deputy governor Carolyn Rogers gave a speech in Halifax on Tuesday in which she sounded the alarm on Canada’s lagging productivity rates.Rogers argued that productivity is
An Alberta country music star is criticizing the province’s energy minister for advising its energy regulator to accept initial applications for a coal mine project in the eastern slopes of the Rocky Mountains in southern Alberta. Corb Lund says that after meeting with Energy Minister Brian Jean, he doesn’t believe the minister knows enough about
The annual rate of inflation across the country eased half a percentage point in January thanks largely to lower gas prices, according to Statistics Canada. The overall inflation rate was 2.9 per cent in January, the agency said Tuesday. That’s down from 3.4 per cent in December, when it accelerated slightly from the previous month.Gas
BCE Inc. is selling off 45 of its 103 regional radio stations as it cuts nine per cent of its workforce, including journalists and other workers at its Bell Media subsidiary. The affected stations are in British Columbia, Ontario, Quebec and Atlantic Canada.The company announced Thursday in an open letter signed by chief executive Mirko Bibic that
The Okanagan wine industry has been facing many challenges recently — among them wildfires and cold snaps — but the latest challenge is coming from the Alberta government. A letter obtained by Motorcycle accident toronto today from the Alberta government’s Gaming, Liquor and Cannabis Commission (AGLC), states that B.C. wine producers need to cease shipping wine directly
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