quantitative easing

Industry professionals respond to the 2023 Federal Budget

By:Building .caPosted: Apr 4th, 2023In: ConstructionNews

The 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[...]

2023 Federal Budget: Ontario Construction Secretariat

By:Building .caPosted: Apr 1st, 2023In: ConstructionNews

Canada 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[...]

BoC’s Macklem says he’s not backing down on rate hikes, even as recession fears grow

By:Building .caPosted: Oct 19th, 2022In: ConstructionNews

Bank 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[...]

More rate hikes needed despite signs of economic slowdown: Macklem

By:Building .caPosted: Oct 8th, 2022In: ConstructionNews

OTTAWA – 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[...]

Canada’s inflation rate cools in August but grocery prices continue to climb

By:Building .caPosted: Sep 24th, 2022In: ConstructionNews

OTTAWA – Canada’s annual inflation rate slowed to 7.0 per cent in August largely driven by the price of gasoline falling, but the cost of groceries continues to climb. In its latest monthly consumer price index (CPI) report, Statistics Canada said grocery[...]

Economic stimulus should have stopped earlier to tame inflation, Bank of Canada says

By:Building .caPosted: Sep 22nd, 2022In: ConstructionNews

OTTAWA – Bank of Canada deputy governor Paul Beaudry said in hindsight, governments and central banks should have withdrawn stimulus measures earlier as economies recovered from the COVID-19 pandemic, which likely would have kept a lid on inflation. In[...]

Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

By:Building .caPosted: Sep 12th, 2022In: ConstructionNews

OTTAWA – 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[...]

Lower economic growth necessary to bring inflation down: BoC senior deputy governor

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

OTTAWA – 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[...]

Slowing inflation not enough to prevent September interest rate hike, economists say

By:Building .caPosted: Aug 24th, 2022In: ConstructionNews

OTTAWA – Inflation in Canada finally appears to have peaked, but it nonetheless remains too high to dissuade the Bank of Canada from raising interest rates significantly in September, economists say. The year-over-year inflation rate[...]

Canada’s inflation rate slows in July despite price gains in food, rent, travel

By:Building .caPosted: Aug 17th, 2022In: ConstructionNews

OTTAWA – Canada’s year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices even as prices for food, rent and travel continued to rise. Economists had[...]