Direct Loan Canada Blog

The Bank of Canada has hiked its key overnight interest rate by 50 basis points to 1.5 per cent and will also continue quantitative tightening. The rate hike comes as the Bank believes that inflation will likely move higher in the near term before beginning to ease.
Source: ctv business
Bank of Canada hikes key interest rate by 50 basis points to 1.5 per cent

Statistics Canada says restaurant and bar sales in March 2022 surpassed pre-pandemic levels for the first time.
Source: ctv business
Restaurant sales surpassed pre-pandemic levels in March: Statistics Canada

The province’s lowest-paid workers will soon be seeing more money on their paycheques as British Columbia’s minimum wage increases again.
Source: ctv business
B.C.’s minimum wage, the highest of all Canadian provinces, is going up again

India’s appetite for cheap Russian oil is swelling, even as the West continues to hit Moscow with unprecedented sanctions.
Source: ctv business
India shows no sign of slowing its purchase of Russian oil

Israel and the United Arab Emirates signed a free trade agreement on Tuesday, the first of its kind that Israel has concluded with an Arab country.
Source: ctv business
Israel, UAE sign free trade deal, first with an Arab country

Tired of speaking to a machine when you call the bank or power company? Spain’s government wants to make it obligatory for companies to offer a real, flesh-and-blood customer service worker when so requested by a caller.
Source: ctv business
Can I talk to a human? Spain presents customer service bill

Economists say the Bank of Canada is still on track for another oversized rate hike on Wednesday after the latest Statistics Canada data showed the pace of economic growth slowed in the first quarter.
Source: ctv business
Bank of Canada on track for rate hike after GDP growth slows: economists

Hungary’s divisive leader has once again got his own way with the European Union — this time in tough negotiations on Russian oil at a summit in Brussels.
Source: ctv business
Hungary’s Orban wins exemption in EU Russian oil embargo

Eurozone inflation hit a record 8.1 per cent in May amid surging energy and food costs fuelled in part by Russia’s war in Ukraine.
Source: ctv business
Eurozone inflation hits record 8.1 per cent amid rising energy costs

In the most significant effort yet to punish Russia for its war in Ukraine, the European Union agreed to ban the overwhelming majority of Russian oil imports after tense negotiations that tested how far the bloc is willing to go to ostracize Moscow.
Source: ctv business
In big bid to punish Moscow, EU bans most Russia oil imports