The Bank of Canada’s governing council agreed the odds of another rate hike have decreased during its discussions ahead of the interest rate decision earlier this month. The central bank released its summary of deliberations for its Dec. 6 interest rate decision Tuesday, revealing the governing council felt more optimistic about the country’s inflation outlook. … Read more
Every year, Environment and Climate Change Canada ranks the top 10 Canadian weather stories. Senior climatologist David Phillips compiles the list and this year, there was no doubt about what would take the number one position: the record-setting wildfires. “There’s no drum roll here,” Phillips said. “The fires dominated everything…. In 28 years of putting … Read more
Brad Clements, 82, has been growing Christmas trees near Milton, Ont., since the 1980s but is getting ready to pack it in. “We’re looking at closing it up in the next year or so, if not sooner,” said Clements, owner of Clembrook Christmas Farm. Clements and his wife aren’t passing the business on to a … Read more
Canada’s annual inflation rate held steady at 3.1 per cent in November, matching the previous month’s rate, according to data released by Statistics Canada on Tuesday. Economists were expecting the rate to fall below the three per cent threshold, putting the economy closer to the Bank of Canada’s two per cent inflation goal. Mortgage interest costs and the high cost … Read more
Canada’s upstream oil and gas industry and drilling services sector has a “very favourable” outlook for 2024, according to Enserva’s State of the Industry report released on Thursday. Key highlights of the report show that oil prices are expected to remain strong, demand will be robust, export capacity will increase, and investment and drilling activity are set … Read more
The federal government’s decision to back a UN resolution calling for a ceasefire in the Israel-Gaza conflict without certain conditions has prompted a mix of reactions from Liberal MPs. Some say they hope it will bring about peace. Others say it amounts to Canada abandoning Israel while it’s at war with extremists. Some Liberal MPs take issue … Read more
The head of Canada’s biggest grocery chain says the looming implementation of the grocery code of conduct would lead to higher prices for consumers, not lower ones. Speaking at a House of Commons agriculture committee meeting on Thursday morning on stabilizing food prices, Galen Weston, executive chairman of the Loblaws group of companies, said his … Read more
Canada’s financial intelligence agency says it has levied a $1.3-million penalty against CIBC for non-compliance with money laundering and terrorist financing measures. The penalty is the second the Financial Transactions and Reports Analysis Centre of Canada has announced this week after RBC’s $7.4-million fine was publicized on Tuesday. The agency, known as Fintrac, says it … Read more
