Industry professionals respond to the 2023 Federal Budget
Posted: Apr 4th, 2023In: ConstructionNewsThe Canada Green Building Council (CAGBC), Canadian Urban Transit Association (CUTA), Pembina Institute, Canada’s Building Trades Unions, and RESCON have issued the following statements in response to the federal government’s Budget 2023: According to the[...]
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2023 Federal Budget: Ontario Construction Secretariat
Posted: Apr 1st, 2023In: ConstructionNewsCanada rebounded quickly from the pandemic, and in 2022 it was the fastest growing economy in the G7. This was due to government support, strong population growth (highest in the G7), and resilient household and[...]
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Inflation in Canada continues to slow, reaffirming BOC’s rate pause
Posted: Mar 22nd, 2023In: ConstructionNewsOTTAWA – Canada’s annual inflation rate continued to slow last month, reaffirming the central bank’s decision to hold its key interest rate steady. In its latest consumer price index report released Tuesday, Statistics Canada said the country’s inflation rate[...]
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Bank of Canada holds key rate for first time in a year, leaves door open to hikes
Posted: Mar 10th, 2023In: ConstructionNewsPhoto: Bank of Canada OTTAWA – The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating its wait-and-see approach to monetary policy. The central bank said Wednesday that it has decided[...]
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Canada’s annual inflation rate slowed in January, serving good news for the BoC
Posted: Feb 22nd, 2023In: ConstructionNewsOTTAWA – The annual inflation rate slowed more than expected in January, suggesting the Bank of Canada is likely content with its decision to pause rate hikes as price pressures continue to ease. In its consumer price index report[...]
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Slowing growth a `good thing’ when economy is overheated: BoC’s Macklem
Posted: Feb 15th, 2023In: ConstructionNewsOTTAWA – Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. Speaking in Quebec City Tuesday, Macklem said that higher interest rates are[...]
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BoC considered not raising rates last month, but hot economy swayed decision
Posted: Feb 13th, 2023In: ConstructionNewsBank of Canada Governor Tiff Macklem at the January 25, 2023 interest rate announcement meeting OTTAWA – The Bank of Canada contemplated not raising interest rates last month but with the economy outperforming expectations, its governing council ultimately decided[...]
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Interest rate hikes: The Bank of Canada’s ‘resolute’ fight against inflation could threaten its credibility
Posted: Jan 30th, 2023In: ConstructionNewsTiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Jan. 25, 2023. THE CANADIAN PRESS/Sean Kilpatrick Ellen D. Russell, Wilfrid Laurier University The Bank[...]
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GTA new home sales dipped in 2022, affected by interest rates, monetary policy
Posted: Jan 27th, 2023In: ConstructionNewsAccording to the Building Industry and Land Development Association (BILD), 2022 saw the Greater Toronto Area (GTA) experience the lowest level of new home sales since 2018. Altus Group, BILD’s official source for new home[...]
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Bank of Canada hikes key interest rate by quarter point, says it plans to hold
Posted: Jan 26th, 2023In: ConstructionNewsOTTAWA – The Bank of Canada delivered what it expects to be its last interest rate hike of the cycle as it pauses to assess the effects of higher rates on the economy. The central bank raised its key interest rate by a quarter of a percentage[...]
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