"Canadian inflation is running more than three times faster than target,'' Desjardins' head of macro strategy, Royce Mendes, wrote in a note to clients Monday.
The Bank of Canada is gearing up to announce its next move on interest rates this Wednesday, with Bay Street forecasters expecting a 50 basis-point increase.
Statistics Canada says real gross domestic product grew 0.2 per cent in January, a month marked by restrictions due to a surge in COVID-19 cases.
A prominent Ottawa business expert is predicting a wave of bankruptcies in the coming months as Canada’s central bank raises its benchmark interest rate in a bid to put the brakes on inflation.
The central bank increased its key rate by a quarter of a percentage point to 0.5 per cent in a bid to help fight inflation, which is at its highest level since 1991.
The country's hot housing market drove economic expansion last year as the economy grew 4.6 per cent in 2021, Statistics Canada said Tuesday.
The region gained 1,400 jobs last month, but that was more than offset by the 4,000 people who resumed their search for work, Statistics Canada said Friday.
It's the fourth month in a row that housing starts in the region were behind their pace from 2020.
The economy shed more than 10,000 jobs last month, with the retail and educational services sectors among the hardest hit.
Employers in Ottawa-Gatineau shed a net total of 3,300 jobs in August, and the unemployment rate dropped mainly because of a mass exodus of 12,100 people from the labour force.