Inflation skyrockets to highest level in nearly 40 years as gas prices soar
Posted: Jun 23rd, 2022In: ConstructionNewsOTTAWA – Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt[...]
Read More about Inflation skyrockets to highest level in nearly 40 years as gas prices soarFreeland touts previously announced measures to combat hot inflation
Posted: Jun 16th, 2022In: ConstructionNewsTORONTO – Amid stubbornly hot inflation and rising interest rates, Finance Minister Chrystia Freeland detailed financial commitments to “help make life more affordable for millions of Canadians” – but the measures were all previously announced. Freeland delivered[...]
Read More about Freeland touts previously announced measures to combat hot inflationKey household debt to income ratio down in Q1 as income rises faster than debt
Posted: Jun 14th, 2022In: ConstructionNewsOTTAWA – Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes grew faster than debt.[...]
Read More about Key household debt to income ratio down in Q1 as income rises faster than debtBank of Canada says household debt and home prices key risks for financial system
Posted: Jun 10th, 2022In: ConstructionNewsOTTAWA – The Bank of Canada said vulnerabilities from high household debt and elevated housing prices have increased and pose key risks to the Canadian financial system. In its latest financial system review, the central bank said Thursday the twin factors[...]
Read More about Bank of Canada says household debt and home prices key risks for financial systemBank of Canada says economy can handle higher rates despite household debt risks
Posted: Jun 9th, 2022In: ConstructionNewsHigh household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. “We think[...]
Read More about Bank of Canada says economy can handle higher rates despite household debt risksStudy finds non homeowners are pessimistic about buying homes despite cooling prices
Posted: Jun 6th, 2022In: ConstructionNewsTORONTO – A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don’t own homes think home ownership remains far out of reach despite prices cooling slightly across the[...]
Read More about Study finds non homeowners are pessimistic about buying homes despite cooling pricesBank of Canada expected to jack up interest rates as inflation persists
Posted: Jun 5th, 2022In: ConstructionNewsExperts predict the Bank of Canada will likely announce another major interest rate boost Wednesday as it tries to rein in runaway inflation. After keeping its key interest rate near zero since March 2020, the central bank unveiled a pair of rate hikes[...]
Read More about Bank of Canada expected to jack up interest rates as inflation persistsBank of Canada open to hiking interest rates past 3% in bid to bridle inflation
Posted: Jun 4th, 2022In: ConstructionNewsOTTAWA – The Bank of Canada may need to raise its key interest rate to three per cent or beyond – more than double its current level – to ensure inflation doesn’t settle in for the long haul, its[...]
Read More about Bank of Canada open to hiking interest rates past 3% in bid to bridle inflationBank of Canada increases policy interest rate by 50 basis points, continues QT
Posted: Jun 2nd, 2022In: ConstructionNewsThe Bank of Canada (BoC) increased its target for the overnight rate to 1½% on Wednesday, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy[...]
Read More about Bank of Canada increases policy interest rate by 50 basis points, continues QTThe Bank of Canada hiked rates again. Here’s a timeline of how we got here
Posted: Jun 1st, 2022In: ConstructionNewsThe Bank of Canada raised its overnight rate by half a percentage point to 1.5 per cent Wednesday and signalled more increases to come, as it aims to curb out-of-control inflation, which is now at its highest level in[...]
Read More about The Bank of Canada hiked rates again. Here’s a timeline of how we got here