economy

Ravi Kahlon, B.C.’s minister of jobs, economic recovery and innovation, speaks at a restaurant in Delta, on September 15, 2021. Kahlon announced a new economic diversification funding program on Nov. 14, 2022. THE CANADIAN PRESS/Darryl Dyck

New economic diversification fund launched for rural, forest-dependent B.C. communities

Up to $33M available to communities, First Nations, not-for-profits

 

Governor of the Bank of Canada Tiff Macklem says the country’s economic slowdown will impact low income earners the most. THE CANADIAN PRESS/Justin Tang

Slowdown will impact low-income earners most, says Bank of Canada governor

Tiff Macklem spoke at conference on diversity, equity Monday

 

Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle

Job losses will rise but won’t reach levels seen in past economic downturns: BoC

Slowdown necessary to halt inflation, says Bank of Canada governor

 

Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang

Five things you need to know about the Liberals’ fall economic update

The federal Liberals unveiled their fall economic update Thursday — a 92-page…

Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang
Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Amid growing criticism, Macklem says Bank of Canada’s independence not under threat

Governor says opinions of politicians, interest groups not changing bank’s long-term plan

Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck

As Canada faces potential recession, Freeland to give fall economic statement

Finance minister has already warned not to expect big money to help Canadians cope

Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck
A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh

Boomtown no more: How Alberta’s economy has changed, in spite of sky-high oil prices

Oil producers having to put increased profits to paying off debt and shareholders

A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh
The State of the Island Economic Summit will happen Oct. 26-27 in Nanaimo. (News Bulletin file photo)

Business and community leaders gathering for Vancouver Island Economic Summit

Sessions explore forest health and climate, future of Island food production and more

The State of the Island Economic Summit will happen Oct. 26-27 in Nanaimo. (News Bulletin file photo)
People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang

VIDEO: Holiday spending expected to slump amid inflation

Canadian households forecast to spend an average of $1,520 this year

People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck

RBC economists say recession could arrive as early as Q1 of next year

Federal budget officer projects considerably slower economy, declining federal deficit

People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck
Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)

New First Nations centre coming to B.C. to give economic development guidance

Centre will look at how to better benefit from sectors such as forestry, mining and natural gas

Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)
A person walks their dog past the storefront of a Spirit Halloween on Avenue Road, in Toronto, Wednesday, Sept. 21, 2022. After two years of COVID-19 restrictions curbing Halloween festivities, some Canadians may be willing to open their wallets wide for a trendy costume or candy for trick-or-treaters. THE CANADIAN PRESS/Alex Lupul

‘Huge demand’: Supply issues could haunt Halloween amid trick-or-treating rebound

Canadians expected to pounce on the holiday after a couple years of subdued celebrations

A person walks their dog past the storefront of a Spirit Halloween on Avenue Road, in Toronto, Wednesday, Sept. 21, 2022. After two years of COVID-19 restrictions curbing Halloween festivities, some Canadians may be willing to open their wallets wide for a trendy costume or candy for trick-or-treaters. THE CANADIAN PRESS/Alex Lupul
A pedestrian walks past a Deloitte sign in downtown Ottawa on Tuesday, Sept. 20, 2011. A tight labour market and elevated savings during the pandemic will cushion the impact of a recession on Canadians, says a new report from Deloitte. THE CANADIAN PRESS/Sean Kilpatrick

Labour shortage, pandemic savings to soften blow of short-lived recession: report

Deloitte forecasts Canada will enter a short-lived recession by the end of the year

A pedestrian walks past a Deloitte sign in downtown Ottawa on Tuesday, Sept. 20, 2011. A tight labour market and elevated savings during the pandemic will cushion the impact of a recession on Canadians, says a new report from Deloitte. THE CANADIAN PRESS/Sean Kilpatrick
Heavy machinery clears up washed-up buildings and rubble in the harbour in Burnt Island, Newfoundland and Labrador on Tuesday, Sept. 27, 2022. Fiona left a trail of destruction across much of Atlantic Canada, stretching from Nova Scotia’s eastern mainland to Cape Breton, Prince Edward Island and southwestern Newfoundland. THE CANADIAN PRESS/Frank Gunn

Newfoundland fishers face livelihood questions after Fiona storm damage

Fiona’s path of destruction through Atlantic Canada heavily damaged the fishing industry

Heavy machinery clears up washed-up buildings and rubble in the harbour in Burnt Island, Newfoundland and Labrador on Tuesday, Sept. 27, 2022. Fiona left a trail of destruction across much of Atlantic Canada, stretching from Nova Scotia’s eastern mainland to Cape Breton, Prince Edward Island and southwestern Newfoundland. THE CANADIAN PRESS/Frank Gunn
Wendy McCulloch (third from the left), Executive Director of Community Futures British Columbia, and Naina Sloan (third from the right), Vice President of programs and partners with the Pacific Economic Development Canada, with representatives of the communities receiving a portion of the funding. (Zachary Delaney)

Feds kick in $5.5 million to help B.C. mitigate economic effects of disasters

Funds given to Community Futures British Columbia to distribute to small business and non-profits

Wendy McCulloch (third from the left), Executive Director of Community Futures British Columbia, and Naina Sloan (third from the right), Vice President of programs and partners with the Pacific Economic Development Canada, with representatives of the communities receiving a portion of the funding. (Zachary Delaney)
A server brings food to a table as people dine at a restaurant in Vancouver, on Tuesday, September 21, 2021. Tipping fatigue is hitting consumers as requests for gratuities increase and spread to new businesses amid the rise of automated payment machines and preset tip suggestions. THE CANADIAN PRESS/Darryl Dyck
A server brings food to a table as people dine at a restaurant in Vancouver, on Tuesday, September 21, 2021. Tipping fatigue is hitting consumers as requests for gratuities increase and spread to new businesses amid the rise of automated payment machines and preset tip suggestions. THE CANADIAN PRESS/Darryl Dyck
Finance Minister Selina Robinson talks about financial aid due to inflation and the cost-of-living increases and support during a press conference at Goudy Field in Langford, B.C., on Wednesday, September 7, 2022. Robinson says preliminary financial numbers for the first three months of the current fiscal year show the province is in a strong position despite ongoing global economic risks. THE CANADIAN PRESS/Chad Hipolito

B.C. says financial outlook improving, forecasts $706 million surplus

Finance minister presented province’s first quarterly report Sept. 12

Finance Minister Selina Robinson talks about financial aid due to inflation and the cost-of-living increases and support during a press conference at Goudy Field in Langford, B.C., on Wednesday, September 7, 2022. Robinson says preliminary financial numbers for the first three months of the current fiscal year show the province is in a strong position despite ongoing global economic risks. THE CANADIAN PRESS/Chad Hipolito
The Bank of Canada is pictured in Ottawa on Tuesday Sept. 6, 2022. The Bank of Canada is expected to announce it will be raising its key interest rate today, making it the fifth consecutive increase this year. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

Expected lift brings the bank’s key rate target to 3.25 per cent

The Bank of Canada is pictured in Ottawa on Tuesday Sept. 6, 2022. The Bank of Canada is expected to announce it will be raising its key interest rate today, making it the fifth consecutive increase this year. THE CANADIAN PRESS/Sean Kilpatrick
Statistics Canada’s offices at Tunney’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang

Economy grew by annual rate of 3.3% in second quarter, Statistics Canada says

According to the federal agency, real GDP grew by 0.8 per cent in the second quarter

Statistics Canada’s offices at Tunney’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang
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