All Economy stories

Tiff's pause is over

The Bank of Canada’s (BoC) conditional pause on interest rate hikes ended with its decision to raise its policy rate to 4.75% yesterday, the highest level in 22 years

Why it matters: The decision reinforces the BoC’s pledge to beat inflation, even if it means more pain for Canadians in the short term. 
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Car thefts in Canada are a “national crisis”

Missy Elliott once asked, “Beep beep, who got the keys to the Jeep?” These days, the answer to that question is too often, “sophisticated international crime syndicates.”
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Office vacancies are trending up

Looking for office space? Well, you’re in luck. There’s a lot of it on the market right now.
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Canadian travellers enjoy their last hurrah

Canadians are booking their summer getaways in record numbers, but the good times may be coming to an end.

Per a new RBC report, dwindling savings and the rising cost of debt will force many middle-and-low-income earners to start pulling back on travel plans by next year.  
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Stellantis subsidies could surpass VW’s

Stellantis looked at the subsidies Volkswagen was offered for its Ontario electric vehicle (EV)  battery plant—the total could end up hitting $13 billion—and said, “Hold my beer.” 

Stellantis and its partner-in-battery-making LG Energy Solution stand to rake in up to $19 billion in subsidies for their EV battery plant in Windsor, Ontario, according to analysis from Johns Hopkins University professor Bentley Allan.
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A tale of two job markets complicates the labour story

We’ve all heard plenty about Canada’s labour shortage by now, but a new StatsCan report shows that understanding the state of the job market is way more complicated than counting the number of “help wanted” signs. 

There were 856,000 job vacancies in Canada by the end of last year and about 49,000 more people than that looking for work, according to the StatCan analysis.

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The last hurdle for the debt ceiling deal

Breathe a sigh of relief: We have a debt ceiling deal. But this long saga that none of us asked for isn’t quite over yet. 

What happened: President Joe Biden and Speaker Kevin McCarthy struck a deal to raise the debt ceiling over the weekend, but it still needs to be approved by Congress—and that’s no sure thing.
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We’re number one (in debt)

Sometimes, being number one isn’t anything to brag about—take Canada’s household debt situation, for example.

Canada tops the G7 when it comes to household debt as a share of GDP, according to a recently released report by the Canada Mortgage Housing Corp.

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Ontario clears path for foreign-trained engineers

Becoming an engineer in Ontario just got easier (you know, aside from all the math). 

Engineers trained abroad will no longer need Canadian experience to get their engineering licence in Ontario. It’s part of a broader push in the country’s largest province to make it easier for skilled immigrants to work in their respective fields. 

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Sunny with a chance of rate hikes

It was fun while it lasted, but Bank of Canada (BoC) Governor Tiff Macklem may end his “conditional pause” era sooner than we all expected.

Driving the news: Several big-name economists at Scotiabank, Capital Economics, and CitiGroup predict that the BoC will hike interest rates by a quarter-point at its June 7 meeting—breaking with a consensus view that a pause would be maintained at 4.5%.
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