business news article

Bank of Canada rates hike nails in coffin for economy

June 10, 2023

Business News

Breadcrumb Trail Links economy The Bank of Canada did exercise patience, but not enough Published June 08, 2023 • Last updated 1 day ago • 4 minute read The Bank of Canada’s tone on June 7 was hawkish, leaving the door open for another interest rate hike in July. Photo by Sean Kilpatrick /The Canadian Press Article content The Bank of Canada pulled an RBA and hiked rates on June 7 with the market mostly (call it 60-40) priced for no move and more than 80 per cent of Bay Street economists believing the central bank would hold its fire.…

Smith faces a slew of financial challenges in Alberta after election victory

June 4, 2023

Business News

After faltering about a decade ago in her ambitions to lead the Wildrose Party to power in Alberta, Danielle Smith found redemption on Monday night as leader of the United Conservative Party with a majority victory in the provincial election. Smith became premier in October after winning the UCP leadership vote in the wake of Jason Kenney’s resignation, and now has a much broader mandate after a victory over the Alberta New Democratic Party. “To paraphrase our dear friend Ralph Klein, ‘Welcome to another miracle on the Prairies,'” Smith said to cheers from the crowd in Calgary. The election comes…