Financial Post: Bank of Canada raises rate 75 bps and signals more hikes to come

The cost of doing business has gotten more expensive, with everything from wages, materials and debt repayment to overhead expenses now pricier than before the pandemic. At the same time, companies are still trying to recover from lost sales from COVID-19 restrictions.

Inflation and a potential recession weren’t on everyone’s mind when Marie-Claude Boisvert joined Sagard Holdings Inc., the alternative investment arm of Power Corp., in January last year with a plan to raise $400 million for a new private equity fund to buy stakes in mid-market Canadian companies.

With record high inflation and rising inflation rates, economist Stephen Tapp isn’t anticipating a painless solution to 2023’s likely recession.