Daily News

FP Economy Source: Financialpost March 16, 2022

Higher oil prices give Chrystia Freeland more room to spend in April budget

The government is set for an even bigger revenue windfall than it projected in December Surging commodity prices are giving Finance Minister Chrystia Freeland breathing room to deliver on spending demands in next month’s budget without pushing Cana...

FP Economy Source: Financialpost March 16, 2022

Inflation surges to 5.7%, adding pressure on Bank of Canada to accelerate rate hikes

Kevin Carmichael: The latest CPI numbers will stoke speculation that the Bank will play catch-up and raise its rate by half a point in April Inflation in February accelerated from a rate that was already way too fast, adding to the pressure on Bank...

FP Economy Source: Financialpost March 11, 2022

Canada's jobless rate plunges to pre-pandemic lows, proving the COVID recession is over

Kevin Carmichael: The case for higher interest rates was strong before these jobs numbers. It is even stronger now Canada’s economy had a February for the ages. Employers created 337,000 jobs in February, recouping the 200,000 positions that...

FP Economy Source: Financialpost March 07, 2022

'Class divide element to this': Support for trucker protests reveal fault lines by age, work status

Groups known to have experienced more isolation or work inflexibility during the pandemic were more likely to respond positively about the demonstrators Canadians have little sympathy for the erstwhile protesters who occupied downtown Ottawa for we...

Source: Bankofcanada March 03, 2022

Getting inflation back to target

Governor Tiff Macklem talks about the Bank of Canada’s decision yesterday to raise its policy interest rate. He explains that after two years of extraordinary stimul...

Source: Bankofcanada March 03, 2022

Opening Statement before the House of Commons Standing Committee on Finance

Introduction Good afternoon. Thank you for inviting me here as part of your study on inflation in Canada. I’m pleased to have Senior Deputy Governor Ca...

FP Economy Source: Financialpost March 03, 2022

'The economy can handle it': More rate hikes in store, but Macklem pledges careful path forward

Kevin Carmichael: Comments suggest it's reasonable to expect quarter-point increases, rather than half-point adjustments Bank of Canada governor Tiff Macklem said the war in Europe has “injected new uncertainty,” but not enough to veer off a path t...

Source: Bankofcanada March 02, 2022

Bank of Canada increases policy interest rate

The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping its overall h...

FP Economy Source: Financialpost March 01, 2022

GDP grew faster than expected in fourth quarter, ensuring Bank of Canada interest rate hike

Kevin Carmichael: Economy grew at an annual rate of 6.7 per cent in the fourth quarter, much faster than the Bank of Canada was expecting The Canadian economy grew at an annual rate of 6.7 per cent in the fourth quarter, much faster than the Bank o...

FP Economy Source: Financialpost February 24, 2022

Stephen Poloz predicts inflation will slow quickly over the next 12 months

Kevin Carmichael: Poloz's outlook would allow current policy-makers to take a gentler path back to higher interest rates Former Bank of Canada governor Stephen Poloz predicted year-over-year increases in the consumer price index will slow to a rate...