Direct Loan Canada Blog

New Zealand’s central bank surprised economists on Wednesday by imposing an aggressive half-point rate rise to bring its benchmark interest rate to 5.25%. It was the Reserve Bank of New Zealand’s 11th straight rate hike as it tries to cool inflation, which is running at 7.2%, far above the bank’s target level of around 2%.
Source: ctv business
New Zealand’s central bank ‘surprises’ with hikes, key interest rate to 5.25 per cent

Swiss regulators on Wednesday defended the rescue of Credit Suisse through a controversial takeover by rival bank UBS as the best solution with least risk of spreading a wider crisis and severely damaging Switzerland’s standing as a financial centre.
Source: ctv business
UBS confident about Credit Suisse deal despite ‘huge’ risk

According to a survey from Autism Speaks Canada (ASC), autistic adults have the lowest employment rate in Canada, at 14.3 per cent, when compared to the general population at 92.7 per cent.
Source: ctv business
Most Canadian adults with autism are unemployed: Survey

About 5,000 white-collar workers at General Motors took the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time.
Source: ctv business
About 5K GM salaried workers take buyouts, avoiding layoffs

The Bank of Canada says deputy governor Paul Beaudry will be leaving his position at the central bank at the end of July.
Source: ctv business
Bank of Canada deputy governor Paul Beaudry to leave post, return to academia at UBC

China’s recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year, the Asian Development Bank said in a report issued Tuesday.
Source: ctv business
ADB forecasts China, India to power strong growth in 2023

Australia’s central bank left its benchmark interest rate on hold at 3.6% on Tuesday following evidence that inflation is falling. It was the first monthly meeting at which the Reserve Bank of Australia board did not hike the cash rate since April 6 last year.
Source: ctv business
Australia pauses key interest rate at 3.6 per cent after 10 hikes

While Canada’s recently announced grocery rebate has yet to be implemented, CTVNews.ca heard from dozens of Canadians who say they already know how they would spend the extra money. While some would use the rebate to stock up on items that regularly appear on their grocery lists, others hope to splurge on more expensive foods they wouldn’t normally buy.
Source: ctv business
This is how Canadians would spend the proposed grocery rebate

Furious at U.S. efforts that cut off access to technology to make advanced computer chips, China’s leaders appear to be struggling to figure out how to retaliate without hurting their own ambitions in telecoms, artificial intelligence and other industries.
Source: ctv business
China seethes as U.S. chip controls threaten tech ambitions

The chairman of Credit Suisse apologized Tuesday to shareholders for failures of the once-venerable bank and acknowledged the shock and anger felt as the troubled Swiss lender is set to be swallowed up by rival UBS in a government-arranged takeover.
Source: ctv business
Credit Suisse investors slam failures as chairman apologizes