Economists predict interest rate hike next week

The Bank of Canada is widely expected to raise interest rates again next week in an ongoing effort to rein in consumer prices and cool the overheated Canadian housing market. With inflation hitting a 31-year high of 6.8% in April, Bay Street analysts generally expect Governor Tiff Macklem and his team of economists to raise … Read more

Investor interest shows signs of slowing in condominium market ahead of construction in Toronto

Construction of The Well condominium project in downtown Toronto is scheduled for September 15, 2020. Like the resale market, buyers of pre-construction homes are beginning to pause purchases amid uncertain economic times.Fred Lum/The Globe and Mail Investor confidence has started to cool for new condos in Toronto, the latest sign that sharply rising borrowing costs … Read more

Conservative leadership candidates clash over past controversies and cost of living in French-only debate

Conservative leadership candidates Patrick Brown, left, Leslyn Lewis, Scott Aitchison, Pierre Poilievre, Jean Charest and Roman Baber pose for photos after the Conservative leadership debate in French on May 25, 2022.Ryan Remiorz/The Canadian Press Tory leadership candidates have attacked their opponents’ ethics in the only official debate in French, with Jean Charest, Pierre Poilievre and … Read more

Layoffs and sluggish growth: is this the cure for inflation?

It is at this point in our difficult economic situation that predicting a little stagflation passes for optimism. Canada’s former central banker Stephen Poloz sees higher prices, volatile oil markets and weaker growth prospects. And what he sees as the best-case scenario is stagflation — that oxymoron that tripped us up in the late 1970s, … Read more

Here’s why the Conservatives fear Pierre Poilievre

OTTAWA — Conservative leadership candidate Pierre Poilievre’s promise to fire the governor of the Bank of Canada split the caucus on Wednesday as worries grow over the future of the party after its controversial leadership race ends. The party’s finance spokesman, Ed Fast, was removed from his post after telling reporters earlier Wednesday morning that … Read more

Here’s why the Conservatives fear Pierre Poilievre

OTTAWA — Conservative leadership candidate Pierre Poilievre’s promise to fire the governor of the Bank of Canada split the caucus on Wednesday as worries grow over the future of the party after its controversial leadership race ends. The party’s finance spokesman, Ed Fast, was removed from his post after telling reporters earlier Wednesday morning that … Read more

Here’s why the Conservatives fear Pierre Poilievre

OTTAWA — Conservative leadership candidate Pierre Poilievre’s promise to fire the governor of the Bank of Canada split the caucus on Wednesday as worries grow over the future of the party after its controversial leadership race ends. The party’s finance spokesman, Ed Fast, was removed from his post after telling reporters earlier Wednesday morning that … Read more

Armchair Bank of Canada critics like Pierre Poilievre should stick to football

The Bank of Canada (BoC) has rarely been so criticized as it is today. The Bank of Canada sets the interest rates which determine the cost of borrowing. And it pumps money into a stalled economy to get it going again, or pulls money back to keep the economy from overheating. The bank is now … Read more

This is how Canada’s inflation rate could be reduced

Year-on-year, CPI inflation was 6.7% in March. In other words, average prices for consumer goods and services in March were 6.7% higher than in March 2021 – a rate well above the 2% target and the highest since the start of 1991. Under pressure from economists and financiers, Bank of Canada Governor Tiff Macklem seems … Read more

This is how Canada’s inflation rate could be reduced

Year-on-year, CPI inflation was 6.7% in March. In other words, average prices for consumer goods and services in March were 6.7% higher than in March 2021 – a rate well above the 2% target and the highest since the start of 1991. Under pressure from economists and financiers, Bank of Canada Governor Tiff Macklem seems … Read more