The Bank of Canada says its trend-setting interest rate will remain unchanged because the economy is adjusting as expected to the bite of low commodity prices and weaker-than-expected demand from the United States. The central bank says Canadian inflation remains within its target range –the key determinant in its rate decisions. As a result, the […]
Canada has climbed out of the recession that nudged the economy into reverse over the first half of 2015, but a rebound in growth during the third quarter has already shown signs of lost momentum. Statistics Canada says Tuesday that the GDP grew at an annualized rate of 2.3% during the three-month period that ended […]
Ontario is projecting that its deficit for next year will be $7.5 billion, as the Liberal government maintains it can eliminate the deficit by 2017-18. The deficit currently sits at $10.3 billion and in the spring budget, the government predicted the 2015-16 deficit would be $8.5 billion. In the fall economic update, the government says […]
Canada’s post-secondary institutions are not producing enough graduates with the right skills to drive future economic growth, warns the head of one of the country’s largest banks. CIBC chief executive Victor Dodig told The Canadian Press in an interview Tuesday that much of the country’s eventual economic success will be generated by entrepreneurs who commercialize […]
As aging baby boomers fuel growing demand for health-care services, investors, including pension plans, are increasingly turning their attention to medical office buildings, a niche within the real estate market that some argue is recession-proof. “Doctors are paid by the government in Canada, so they’re pretty secure tenants,” says Huy Lam, a broker at Colliers […]
Alberta’s NDP government is facing accusations that the broad guidelines for its multibillion-dollar proposed carbon tax will change that tax from a climate-fighting levy into an all-purpose slush fund. The province expects to collect about $3 billion per year from the tax as of 2018, with hikes in power and electricity bills and in the […]
The Canada Pension Plan Investment Board (CPPIB) is teaming with a private equity group in a US$4.6-billion takeover Petco Animal Supplies Inc., a California-based specialty retailer of premium pet food, supplies and services. Under the deal, the CPPIB and CVC Capital Partners will jointly acquire the company from a group of investors led by TPG […]
The new Liberal government says the federal books passed down from the Conservatives are on track to drive the country billions of dollars deeper in the hole than expected. But Finance Minister Bill Morneau maintained Friday that the government will fulfill its pledge to balance the books before the next election despite the weaker economic […]
In October, the consumer price index rose 1% over a year ago due to a rise in the cost of food. Still, lower gas prices continued to weigh on the index. Statistics Canada says prices were up in seven of the eight major components measured on a year-over-year basis, led by higher food costs. And, […]
Canadians may have been told that carbon pricing is a “job-killing tax on everything” but a new study finds the impact rather underwhelming. The latest report from Canada’s Ecofiscal Commission says only four per cent of the overall Canadian economy would be exposed to competitive pressures if carbon was priced at $30 a tonne, although […]