The Bank of Canada has raised its benchmark interest rate by another 25 basis points, bringing it to levels not seen since 2001 amid fears the decline in inflation “could stall.” The central bank’s key interest rate now stands at 5.0 per cent following back-to-back hikes.Many economists, including Canada’s big six banks, had expected the
There may be movement towards an end to the bitter labour dispute that has shut down B.C.’s ports. Federal Labour Minister Seamus O’Regan sent a letter to the lead federal negotiator in the strike Tuesday to trigger section 105(2) of the Canada Labour Code, which allows them to make recommendations for a settlement of the
The sole ferry service responsible for transporting travellers between Nova Scotia and eastern Prince Edward Island has been no stranger to challenges over the past year. In 2022, a fire broke out on Northumberland Ferries Limited’s MV Holiday Island vessel and put the ship out of service permanently. It was replaced by the MV Confederation
Canada’s unemployment rate rose in June despite a substantial rebound in job gains, Statistics Canada said Friday, which economists say sends “mixed” signals to the Bank of Canada ahead of a hotly anticipated interest rate decision next week. The agency said Friday Canada added 60,000 jobs amid a gain of 110,000 new full-time positions last
B.C. port workers’ strike continues Sunday morning, and talks have resumed after a 33-hour negotiation period failed to find a deal on Friday and Saturday. Late Sunday afternoon, the International Longshore and Warehouse Union (ILWU) Canada provided an update in a press conference.“I was in hopes that sometime (Sunday) or earlier we would be coming
As of 9 a.m. Saturday, more than 7,000 B.C.’s port workers are on strike. In a statement issued at 8 a.m. Wednesday, the International Longshore and Warehouse Union Canada (ILWU) said workers were prepared to walk off the job as talks broke down between the two sides.Bargaining between the ILWU and the British Columbia Maritime
The return to summer travel and an uptick in demand for short-term rentals are renewing scrutiny on the role platforms such as Airbnb play in making housing less affordable for some Canadians. Experts who spoke to Motorcycle accident toronto today say there’s a clear correlation between the prominence of short-term rentals in a city and the affordability
Canada’s unemployment rate rose to 5.2 per cent in May, Statistics Canada said Friday, a sign of weakening in the country’s tight labour market that will help inform the Bank of Canada’s future interest rate decisions. Employment overall was little changed in the month, the agency said, with a modest 17,000 jobs lost. Employment fell
The Bank of Canada’s interest rate pause is set for its toughest challenge yet on Wednesday as policymakers weigh whether another hike is needed to quell a resilient economy and push inflation down further. While money markets and some economists say that another hike is in the cards for this week’s interest rate decision, those
Republican leaders in the House of Representatives and the White House have reached an “agreement in principle” to raise the debt ceiling — just over a week before the deadline to avoid a potential default. Republican Speaker Kevin McCarthy first tweeted the news Saturday night. He said the parties have come to an “agreement in