interest rates

Bank of Canada cuts key interest rate for first time in more than four years

Bank of Canada cuts key interest rate for first time in more than four years

Jun 5, 2024 | 7:59am
The Bank of Canada cut its key interest rate for the first time in more than four years today, marking a major turning point in its fight against inflation. Governor Tiff Macklem says the Bank of Canada has more confidence inflation is moving closer to its two per cent target, citing various indicators that suggest […]
Inflation Up Slightly Nationally, and Down Slightly in Saskatchewan.

Inflation Up Slightly Nationally, and Down Slightly in Saskatchewan.

Apr 16, 2024 | 9:05am
The inflation rate ticked up from 2.8 per cent in February to 2.9 per cent last month as we paid more for gasoline. Statistics Canada reports gas prices rose 4.5 per cent from a year ago, partly due to an increase in global oil prices. Shelter prices rose up 6.5 per cent, mortgage interest costs jumped 25.4 […]
Canada’s unemployment rate jumps to 6.1% in March as job growth comes to a halt

Canada’s unemployment rate jumps to 6.1% in March as job growth comes to a halt

Apr 5, 2024 | 7:35am
Canada’s unemployment rate jumped to 6.1 per cent in March as more people looked for work, Statistics Canada reported Friday. The figure is up from 5.8 per cent in February and marks the largest increase in the unemployment rate since summer 2022. The federal agency’s labour force survey shows employment was little changed last month, […]
Economy adds 41,000 jobs in February, unemployment rate rises to 5.8%

Economy adds 41,000 jobs in February, unemployment rate rises to 5.8%

Mar 8, 2024 | 8:29am
The Canadian economy added 41,000 jobs in February as employment gains continue to lag strong population growth in the country. The federal agency’s labour force survey released Friday says the unemployment rate ticked up to 5.8 per cent last month. Job gains were spread across several industries in the services-producing sector, with the strongest employment growth in […]
2024 to bring slower food inflation as prices continue to moderate: report

2024 to bring slower food inflation as prices continue to moderate: report

Dec 7, 2023 | 9:07am
Food prices will keep rising in 2024, though at a slower pace, according to the latest Food Price Report. The 14th annual report by Dalhousie University, the University of British Columbia, the University of Guelph and the University of Saskatchewan predicted that food prices will rise between 2.5 per cent and 4.5 per cent next year as […]
Unemployment rate rises to 5.8% in November as job market continues to cave

Unemployment rate rises to 5.8% in November as job market continues to cave

Dec 1, 2023 | 11:32am
Canada’s unemployment rate ticked up to 5.8 per cent last month, as high interest rates weigh on job creation at a time when the country’s population is growing rapidly. Statistics Canada released its November labour force survey Friday, showing the economy added a modest 25,000 jobs, slightly surpassing forecasters’ expectations. Manufacturing and construction saw the […]
Statistics Canada says annual inflation rate slowed to 3.1% in October

Statistics Canada says annual inflation rate slowed to 3.1% in October

Nov 21, 2023 | 8:30am
The inflation rate slowed to 3.1 per cent on a year-over-year basis, down from 3.8 per cent in September, as the price of gasoline fell, Statistics Canada said Tuesday. The agency said the price drivers paid for gasoline in October fell 7.8 per cent from a year earlier compared with a 7.5 per cent increase […]