pandemic - Fix Team

Inflation skyrockets to highest level in nearly 40 years as gas prices soar

By:Building .caPosted: Jun 23rd, 2022In: ConstructionNews

OTTAWA – 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[...]

Freeland touts previously announced measures to combat hot inflation

By:Building .caPosted: Jun 16th, 2022In: ConstructionNews

TORONTO – 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[...]

Key household debt to income ratio down in Q1 as income rises faster than debt

By:Building .caPosted: Jun 14th, 2022In: ConstructionNews

OTTAWA – 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.[...]

Bank of Canada says household debt and home prices key risks for financial system

By:Building .caPosted: Jun 10th, 2022In: ConstructionNews

OTTAWA – 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[...]

Bank of Canada says economy can handle higher rates despite household debt risks

By:Building .caPosted: Jun 9th, 2022In: ConstructionNews

High 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[...]

Study finds non homeowners are pessimistic about buying homes despite cooling prices

By:Building .caPosted: Jun 6th, 2022In: ConstructionNews

TORONTO – 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[...]

Bank of Canada expected to jack up interest rates as inflation persists

By:Building .caPosted: Jun 5th, 2022In: ConstructionNews

Experts 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[...]

Bank of Canada open to hiking interest rates past 3% in bid to bridle inflation

By:Building .caPosted: Jun 4th, 2022In: ConstructionNews

OTTAWA – 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[...]

Bank of Canada increases policy interest rate by 50 basis points, continues QT

By:Building .caPosted: Jun 2nd, 2022In: ConstructionNews

The 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[...]

The Bank of Canada hiked rates again. Here’s a timeline of how we got here

By:Building .caPosted: Jun 1st, 2022In: ConstructionNews

The 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[...]