A fossil fuel financial bubble is growing as financial institutions pump over a trillion dollars into the sector, even as the need to transition off coal, oil and gas is paramount to avoid climate catastrophe. Is it time to put the Bank of Canada to work?
Finance Minister Chrystia Freeland delivered a federal budget on Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending.
Finance Minister Chrystia Freeland will table the fall fiscal update on Tuesday, Nov. 21, 2023, which is expected to focus on housing and affordability as the Liberal government struggles to regain favour with Canadians feeling overwhelmed and angry about the rising cost of living.
Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution's independence.
In a letter Thursday to Bank of Canada governor Tiff Macklem, Eby urged him to consider the "human impact" of rate hikes, which the bank has employed as an anti-inflationary measure, before making a decision next Wednesday.
Amid all this suffering — what we’ve been through and what’s to come — there is one statistic that marches ever upward: corporate profits, Avi Lewis writes.
The full effects of interest rate hikes have yet to be felt — and will be "even more powerful" than many anticipate, said former Bank of Canada governor Stephen Poloz on Thursday, November 24, 2022, in a speech about ways Canada can chart a path toward economic growth during uncertain times.
Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem.
Bank of Canada senior deputy governor Carolyn Rogers says addressing supply problems could help ease inflationary pressures but such policies wouldn't substitute the need for higher interest rates.