Inflation in Canada hit 6.7% in March, up from 5.7% in February and the largest year-over-year increase since January 1991 as supply chain disruptions, the war in Ukraine and a reopening economy all had an effect. … READ MORE >
Canada
Bank of Canada raises rates by a half percentage point
In an effort to target inflation that is at its highest level in decades, the Bank of Canada on Wednesday increased its policy interest rate by 50 basis points, to 1%, and said it would begin to reduce its balance sheet, known as quantitative tightening. … READ MORE >
Canada’s unemployment rate lowest in nearly five decades
Canada added 73,000 jobs in March, a relatively modest gain that still helped push the unemployment rate down to 5.3%, the lowest since 1976. … READ MORE >
Supply shock ripples across agricultural commodities
As Russia’s invasion of Ukraine takes a mounting human and economic toll, it also has the potential to threaten the food supply for millions of people who depend on agricultural commodities from those two countries. … READ MORE >
Canada’s GDP rises, led by construction and trade
Canada’s gross domestic product in January had a modest increase of 0.2% from December as the effects of the omicron variant paused growth in the services sector. … READ MORE >
RSM Canada Supply Chain Index is flat, but challenges await
The RSM Canada Supply Chain Index in February continued to show stress in the economy, measuring 1.89 standard deviation below normal and little changed from January. … READ MORE >
Canadian retail sales rebound amid strong auto demand
The fact that most Canadian retail sectors were little affected by the omicron variant in January highlights the strong consumer demand that shows little sign of waning even as prices climb. … READ MORE >
Canada’s inflation hits 5.7% in a warmup for what’s ahead
Canada’s inflation rate hit 5.7% year over year in February, up from 5.1% in January, as price increases continued to broaden across categories. … READ MORE >
Canada’s job market is strong but uncertainty lies ahead
The Canadian economy added 337,000 jobs in February as the reopening of the economy more than offset the job losses in January because of the omicron variant. … READ MORE >
The impact of an energy shock on Canada’s economy
Although high oil and gas prices had been good news for the Canadian economy over the past few decades, this time is different. … READ MORE >