Business Update – December 7, 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Bank of Canada rate decision: What economists expect
Economists are expecting the Bank of Canada will hold interest rates at its key policy announcement next week, with some saying they expect the central bank to be done hiking rates.
Statistics Canadian survey on business conditions, fourth quarter 2023
Statistics Canada conducted the Canadian Survey on Business Conditions from October to early November 2023. The survey collects information on the environment businesses are currently operating in and their expectations moving forward.
Is immigration to blame for inflation and high interest rates?
There has been much recent commentary about the merits of bringing so many new people into the country so quickly. Concerns have run the gamut from strains on housing and social services to decreased affordability, with some also blaming it for higher inflation.
What we heard: Bank of Canada publishes report on digital dollar consultations
The Bank of Canada has published a report summarizing the feedback it has received to date about a potential digital Canadian dollar.
Canada’s economy shrank by 0.3% in third quarter, StatsCan says
Canada’s economy shrank in the three months up to September, as household spending was flat and exports declined. Statistics Canada reported Thursday that the country’s gross domestic product shrank by 0.3 per cent.
Decarbonization is the new business imperative
According to a report from KPMG, growing Canada’s clean economy could be the greatest economic opportunity of our time.
Housing prices are ‘conundrum’ for Bank of Canada, National Bank’s Marion says
Canadian house prices that remain elevated due to record population growth — but despite restrictive monetary policy — complicate the Bank of Canada’s inflation fight, according to Stefane Marion, chief economist and strategist at National Bank of Canada.
What do the latest GDP figures mean for the Bank of Canada?
Canada’s economy shrank in the third quarter, according to Statistics Canada, adding fuel to the narrative that the Bank of Canada will need to lower interest rates soon to avoid a deep recession – but economists have varying views on when to expect cuts.
Cracks in job market grow as BoC succeeds at slowing economy to a near halt
Canada’s unemployment rate continues to trend higher as the Bank of Canada’s steep interest rate hikes weigh down the economy leaves workers with fewer options in the job market.
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