Long term rate hikes effects will be ‘more powerful’ than people think: Poloz
Posted: Nov 26th, 2022In: ConstructionNewsOTTAWA – The full effects of interest rate hikes have yet to be felt – and will be “even more powerful” than many anticipate, said former Bank of Canada governor Stephen Poloz Thursday in a speech about ways Canada can chart a path[...]
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Inflation relief measures should be well targeted and temporary, says Macklem
Posted: Nov 24th, 2022In: ConstructionNewsOTTAWA – Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor[...]
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Canada’s low unemployment rate is unsustainable, contributing to inflation: Macklem
Posted: Nov 11th, 2022In: ConstructionNewsTORONTO – Canada’s low unemployment rate is not sustainable and is contributing to decades-high inflation, Bank of Canada governor Tiff Macklem said during a speech in downtown Toronto Thursday. Speaking before students and researchers at Toronto Metropolitan University, the governor[...]
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Bank of Canada slows pace of rate hikes but Macklem warns more to come
Posted: Oct 27th, 2022In: ConstructionNewsOTTAWA – The Bank of Canada signalled it is drawing closer to the end of what’s been one of the fastest rate hike cycles in its history Wednesday as it raised its key interest rate by a half-percentage point – but made it[...]
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60% of Canadians concerned about impact of rising rates: MNP survey
Posted: Oct 25th, 2022In: ConstructionNewsAs another Bank of Canada interest rate hike is to be announced Wednesday (26th), a recent poll conducted by Ipsos on behalf of MNP Ltd finds that six in ten Canadians (59%,+1pt) say they are[...]
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BoC’s Macklem says he’s not backing down on rate hikes, even as recession fears grow
Posted: Oct 19th, 2022In: ConstructionNewsBank of Canada governor Tiff Macklem emphasized Friday (Oct. 14) that he has not changed his mind on interest rate hikes, even as expectations grow about a possible recession next year. Now is not the time to be[...]
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More rate hikes needed despite signs of economic slowdown: Macklem
Posted: Oct 8th, 2022In: ConstructionNewsOTTAWA – Despite some early signs of a slowing economy, Bank of Canada governor Tiff Macklem says more interest rate hikes are necessary to bring inflation down. Speaking to the Halifax Chamber of Commerce on Thursday, Macklem said high[...]
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Ontario’s Construction Employment Reaches New Records: report
Posted: Sep 25th, 2022In: ConstructionNewsAccording to recent research conducted by the Ontario Construction Secretariat, new data from Statistics Canada has shown that construction employment in Ontario continues to reach new record highs, breaking the previous record from May. The[...]
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Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher
Posted: Sep 12th, 2022In: ConstructionNewsOTTAWA – Canadians should expect interest rates will climb even higher, the Bank of Canada said Wednesday after announcing another supersized interest rate hike. The central bank raised its key interest rate by three-quarters of a percentage point and signalled this won’t be[...]
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Lower economic growth necessary to bring inflation down: BoC senior deputy governor
Posted: Sep 9th, 2022In: ConstructionNewsOTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says the journey back to two per cent inflation will take time and a that period of lower economic growth is necessary to bring inflation down. The Thursday speech to Calgary[...]
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