A majority of Canadians say they will be financially hurting due to the latest Bank of Canada (BoC) rate hike, according to a new poll. With another recent increase to the BoC’s key overnight rate—the tenth rise since the start of 2022—59 percent of Canadians say it will have a negative impact on their personal…

Commentary Canada’s economy may manage to escape going into a recession despite economists predicting it would over the last few months. Higher-than-expected growth in the national GDP in the first quarter of 2023 has dampened speculation of an economic contraction. This has led to speculation the Bank of Canada will be raising interest rates again…

The government’s gross debt has increased by 50 percent while the federal Liberal Party has been in power, representing $47,179 per Canadian, according to a new report. An Economic Note published April 18 by the Montreal Economic Institute (MEI), an independent public policy think tank, indicates Canada’s total gross debt, referring to all of the…

The government’s gross debt has increased by 50 percent while the federal Liberal Party has been in power, representing $47,179 per Canadian, according to a new report by the Montreal Economic Institute (MEI). An Economic Note published April 18 by the MEI, an independent public policy think tank, indicates Canada’s total gross debt, referring to…

As Canadians deal with rising inflation and higher prices for food, fuel, and home heating costs, discount chain Dollarama says demand has boomed for bargains and the dollar store giant plans to open more stores next year. The Montreal-based retailer reported its fourth-quarter growth on March 29, saying comparable store sales grew 15.9 percent and…

Commentary Once upon a time Ontario, Canada’s largest province economically and demographically, was governed by spendthrift Liberals with an unshakeable faith in government’s ability to solve all problems. Booooo! So, many people worked hard to replace them with a different party. How’s that working for you now that the Tories just handed down the biggest-spending…

Commentary For economic prognosticators, the year that just ended threw up some big surprises, including the first land war in Europe since 1945, spiralling inflation, and a series of rapid-fire interest rate increases as panicked central bankers rushed to tame soaring prices. Few, if any, forecasters anticipated these developments—a stark reminder of how hard it…

Deputy Prime Minister Chrystia Freeland says that Canadians will face more economic challenges “around the corner” as a result of rising interest rates. “The impact that will have on people’s family budgets—some people are going to see their mortgage payments rise and that is a challenge,” Freeland told reporters in Gatineau, Que., on Oct. 17. “I’m…

Commentary Whatever is to be done about Canada’s economic problems? Actually, you don’t need to worry because (a) we don’t have any problems given the wisdom and compassion of those in charge, and (b) they just fixed those problems with more of what caused them. If you follow politics closely, including its rhetorical aspect, then…

OTTAWA—Statistics Canada said Tuesday the economy grew 4.6 percent last year, compared with a decline of 5.2 percent in 2020, the first year of the COVID-19 pandemic. Growth in the fourth quarter came in at an annualized rate of 6.7 percent. Statistics Canada said the largest contributor to economic growth last year was household spending…