Toronto Star: ‘Cracks beginning to show.’ Consumer spending plunges in Ontario as interest rate hikes start to hurt
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While Canada’s economy has yet to dip into recession, new data from the Business Data Lab suggests that many of the country’s major cities are already heading into downturns known as “city-cessions.”
Toronto Star: Economy ‘clearly stagnating:’ New GDP data indicates Canada heading for recession — and may already be there
Andrew DiCapua, senior economist at the Canadian Chamber of Commerce, said it’s clear a recession is on the way — and he said many believe it’s been here for some time.
Financial Post: Bank of Canada swerves in ‘game of chicken’ with inflation: What economists say
The Bank of Canada surprised markets with a 50-basis point hike in its Oct. 26 rate decision, a smaller move than the 75-point hike many economists were anticipating.