economy

Temporary foreign workers from Mexico plant strawberries on a farm in Mirabel, Que., on May 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes

Facing labour shortages, Liberals loosen rules on foreign workers ahead of budget

Changes announced Monday will allow employers to hire foreign workers for more low-wage jobs

 

FILE - Farmers harvest with their combines in a wheat field near the village Tbilisskaya, Russia, July 21, 2021. The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, March 17, 2022, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. (AP Photo/Vitaly Timkiv, File)

War in Ukraine will take global economic toll, group warns

OECD: conflict to reduce gross domestic product by 1.08% worldwide, 1.4% in the 19 Euro countries

 

Governor of the Bank of Canada Tiff Macklem participates in a media availability at the Bank of Canada in Ottawa, on Wednesday, Dec. 15, 2021. THE CANADIAN PRESS/Justin Tang

Bank of Canada hikes key interest rate for first time since pandemic began

Central bank increases key rate by a quarter of a percentage point in bid to help fight inflation

 

A worker carries wood as a house under construction is shown in a subdivision in Beckwith, Ont. THE CANADIAN PRESS/Sean Kilpatrick

Statistics Canada says Canadian economy grew 4.6% in 2021

Home construction, resales and renovations increased at near-record levels as country bounes back

A worker carries wood as a house under construction is shown in a subdivision in Beckwith, Ont. THE CANADIAN PRESS/Sean Kilpatrick
Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. Investors watching bank earnings that start this week will be keeping a keen eye on any hints at how the institutions will fare with the two big trends this year: rate hikes and inflation. THE CANADIAN PRESS/Adrien Veczan

Outlook for interest rates, inflation are key trends as banks set to report earnings

The central banks of Canada and the U.S. are expected to start raising rates in March

Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. Investors watching bank earnings that start this week will be keeping a keen eye on any hints at how the institutions will fare with the two big trends this year: rate hikes and inflation. THE CANADIAN PRESS/Adrien Veczan
People line up at the Toronto Premium Outlets mall on Black Friday for shopping sales during the COVID-19 pandemic in Milton, Ont., Friday, Nov. 27, 2020. THE CANADIAN PRESS/Nathan Denette

November economy pushed Canada past pre-COVID level for first time in 2 years

Statistics Canada says economy grew 0.6% in November, decline expected to start 2022

People line up at the Toronto Premium Outlets mall on Black Friday for shopping sales during the COVID-19 pandemic in Milton, Ont., Friday, Nov. 27, 2020. THE CANADIAN PRESS/Nathan Denette
People walk along Ste-Catherine Street in Montreal, Sunday, January 2, 2022, as the COVID-19 pandemic continues in Canada. Some measures put in place by the Quebec government, including the closure of stores to help curb the spread of COVID-19 in the province. THE CANADIAN PRESS/Graham Hughes
People walk along Ste-Catherine Street in Montreal, Sunday, January 2, 2022, as the COVID-19 pandemic continues in Canada. Some measures put in place by the Quebec government, including the closure of stores to help curb the spread of COVID-19 in the province. THE CANADIAN PRESS/Graham Hughes
People wait in line at a COVID-19 testing and vaccination site in Montreal, Wednesday, Dec. 29, 2021. Ontario and Quebec are both reporting new COVID-19 case records today as Canadian provinces explore changing their isolation rules to keep health systems afloat amid an unprecedented wave of infections. THE CANADIAN PRESS/Graham Hughes
People wait in line at a COVID-19 testing and vaccination site in Montreal, Wednesday, Dec. 29, 2021. Ontario and Quebec are both reporting new COVID-19 case records today as Canadian provinces explore changing their isolation rules to keep health systems afloat amid an unprecedented wave of infections. THE CANADIAN PRESS/Graham Hughes
Alicia Dempster poses for a photograph at her home in Stouffville, Ont., on Wednesday, December 22, 2021. Dempster anticipated she’d return to her work in events after her maternity leave ended, but has yet to do so as a result of COVID-19. THE CANADIAN PRESS/ Tijana Martin

Statistics show the ‘she-cession’ is over, but experts say not so fast

Many women still struggling to balance work and demands of family life

Alicia Dempster poses for a photograph at her home in Stouffville, Ont., on Wednesday, December 22, 2021. Dempster anticipated she’d return to her work in events after her maternity leave ended, but has yet to do so as a result of COVID-19. THE CANADIAN PRESS/ Tijana Martin
Statistics Canada’s offices at Tunny’s Pasture in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang

Statistics Canada says GDP grew at 5.4% annual rate in Q3

Economy edged up by 0.1% in September

Statistics Canada’s offices at Tunny’s Pasture in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang
Bank of Canada Governor Tiff Macklem speaks during a news conference, in Ottawa, Wednesday, Oct. 27, 2021. The Bank of Canada’s move to end its pandemic-driven purchases of government bonds to stimulate the economy, and warnings of rate hikes sooner than previously expected, has coloured federal efforts to craft an annual plan to mange the debt. THE CANADIAN PRESS/Adrian Wyld

End of quantitative easing shadows Liberals’ consultation on managing federal debt

Bank of Canada could start increasing key rate from 0.25% beginning in the second quarter of 2022

Bank of Canada Governor Tiff Macklem speaks during a news conference, in Ottawa, Wednesday, Oct. 27, 2021. The Bank of Canada’s move to end its pandemic-driven purchases of government bonds to stimulate the economy, and warnings of rate hikes sooner than previously expected, has coloured federal efforts to craft an annual plan to mange the debt. THE CANADIAN PRESS/Adrian Wyld
Office towers are photographed in Toronto’s financial district on Wednesday, June 27, 2018. THE CANADIAN PRESS/ Tijana Martin

Banking regulator planning for more frequent volatility ahead in financial sector

The regulator is working to better understand the risks and to increase disclosures

Office towers are photographed in Toronto’s financial district on Wednesday, June 27, 2018. THE CANADIAN PRESS/ Tijana Martin
Prime Minister Justin Trudeau, left, arrives with Deputy Prime Minister and Minister of Finance Chrystia Freeland as she prepares to table the federal budget in the House of Commons in Ottawa, on Monday, April 19, 2021. THE CANADIAN PRESS/Justin Tang

Liberals to face pressure to move quickly on fiscal plan as fourth wave hits economy

Analyst: Liberals are unlikely to start reining in spending with the pandemic ongoing

Prime Minister Justin Trudeau, left, arrives with Deputy Prime Minister and Minister of Finance Chrystia Freeland as she prepares to table the federal budget in the House of Commons in Ottawa, on Monday, April 19, 2021. THE CANADIAN PRESS/Justin Tang
Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick

Statistics Canada says economy contracted in second quarter of year

Agency said the drop was drive by declines in home resale activity, exports

Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
Shell Canada President Susannah Pierce poses in this undated handout photo. The oil and gas sector is simply “not as attractive as it once was” to today’s young people, Pierce says. THE CANADIAN PRESS/HO, Shell Canada *MANDATORY CREDIT*

Top CEOs urge diversification as Alberta grapples to find its place in changing world

Alberta’s long-term unemployment rate is 2.4 per cent, higher than the national average of 1.4 per cent

Shell Canada President Susannah Pierce poses in this undated handout photo. The oil and gas sector is simply “not as attractive as it once was” to today’s young people, Pierce says. THE CANADIAN PRESS/HO, Shell Canada *MANDATORY CREDIT*
Bank buildings are photographed in Toronto’s financial district on Wednesday, June 27, 2018. Canadian banks are emerging from the pandemic flush with cash, but analysts say they’ll be looking at financial results out this week for hints of how the sector is transitioning towards more business as usual. THE CANADIAN PRESS/ Tijana Martin

Big Canadian banks set to release earnings as economy shifts to reopening

Loan growth will be a key area to watch as the economy reopen

Bank buildings are photographed in Toronto’s financial district on Wednesday, June 27, 2018. Canadian banks are emerging from the pandemic flush with cash, but analysts say they’ll be looking at financial results out this week for hints of how the sector is transitioning towards more business as usual. THE CANADIAN PRESS/ Tijana Martin
Statistics Canada says retail sales rose 4.2 per cent to $56.2 billion in June as public health restrictions were eased in many parts of the country. Shoppers are shown at West Edmonton Mall in Edmonton on Wednesday, December 9, 2020. THE CANADIAN PRESS/Amber Bracken

Statistics Canada says retail sales gained 4.2% in June as restrictions eased

Sales at general merchandise stores rose 7.4 per cent, while motor vehicle and parts dealers gained 2.7 per cent

Statistics Canada says retail sales rose 4.2 per cent to $56.2 billion in June as public health restrictions were eased in many parts of the country. Shoppers are shown at West Edmonton Mall in Edmonton on Wednesday, December 9, 2020. THE CANADIAN PRESS/Amber Bracken
FILE – A sign on a shop window indicates the store is closed in Ottawa, Monday March 23, 2020. THE CANADIAN PRESS/Adrian Wyld

Women, BIPOC Canadians must remain focused as economy recovers from COVID: report

People who bore the brunt of pandemic restrictions must be taken into account

FILE – A sign on a shop window indicates the store is closed in Ottawa, Monday March 23, 2020. THE CANADIAN PRESS/Adrian Wyld
Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada will act to cool inflation if prices run too hot, Macklem says

The central bank forecast inflation will run above 3 per cent this year

Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada cuts growth forecast for 2021, reduces bond-buying target

Bank now expects growth of 4.6 per cent in 2022, up from its earlier forecast of 3.7 per cent

Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick