economy

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. THE CANADIAN PRESS/Justin Tang

Economists expect Bank of Canada to hike key interest rate by 0.75% on Wednesday

Central bank aiming to bring soaring inflation back down to two per cent target

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. THE CANADIAN PRESS/Justin Tang
People fuel up vehicles at a Shell gas station in Vancouver, on Saturday, May 14, 2022. GasBuddy’s head petroleum analyst says drivers should expect some relief at the pump heading into the end of July and start of August. THE CANADIAN PRESS/Darryl Dyck

VIDEO: B.C. gas prices expected to drop below $2/litre mark: analyst

Global prices dropping as economy slows, threatens recession

People fuel up vehicles at a Shell gas station in Vancouver, on Saturday, May 14, 2022. GasBuddy’s head petroleum analyst says drivers should expect some relief at the pump heading into the end of July and start of August. THE CANADIAN PRESS/Darryl Dyck
A shopper wipes down a handle as they select a cart at an Ikea furniture store in Ottawa, Tuesday, May 31, 2022. Canadian retailers are struggling with higher shipping costs as couriers tack hefty fuel surcharges onto shipping rates to recoup record gas prices. THE CANADIAN PRESS/Justin Tang

Canadian retailers grapple with soaring fuel surcharges to ship online orders

Extra charge topping 40 per cent for some carriers

A shopper wipes down a handle as they select a cart at an Ikea furniture store in Ottawa, Tuesday, May 31, 2022. Canadian retailers are struggling with higher shipping costs as couriers tack hefty fuel surcharges onto shipping rates to recoup record gas prices. THE CANADIAN PRESS/Justin Tang
Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)

Education urged for B.C. businesses in battling bogus bills

‘We have materials designed for everybody, and everything is absolutely free’

Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)
Gas hit the listed price of $2.19.9 at one Vernon service station on 25th Avenue at 43rd Street Thursday, June 2. (Roger Knox/Morning Star).

Strategic support for B.C. residents needed as central bank works on inflation: experts

Economist says to expect food prices to stay high for another year

Gas hit the listed price of $2.19.9 at one Vernon service station on 25th Avenue at 43rd Street Thursday, June 2. (Roger Knox/Morning Star).
Milk and dairy products are displayed for sale at a grocery store in Aylmer, Que., on Thursday, May 26, 2022. Dairy Farmers of Canada has asked the Canadian Dairy Commission for a mid-year milk price hike due to the current inflationary environment. THE CANADIAN PRESS/Sean Kilpatrick

Canadian dairy farmers seek second milk price hike this year, citing rising costs

Dairy commission says it will issue its decision around June 17

Milk and dairy products are displayed for sale at a grocery store in Aylmer, Que., on Thursday, May 26, 2022. Dairy Farmers of Canada has asked the Canadian Dairy Commission for a mid-year milk price hike due to the current inflationary environment. THE CANADIAN PRESS/Sean Kilpatrick
Gas prices dropped slightly but offered little respite for Greater Victoria residents over Victoria Day. (Black Press Media File)

Gas prices drop slightly on South Vancouver Island, still highest Victoria Day ever

Prices dropped by 2.9 cents per litre averaging 225.63 as of May 22, according to GasBuddy

Gas prices dropped slightly but offered little respite for Greater Victoria residents over Victoria Day. (Black Press Media File)
Gas prices dropped slightly but offered little respite for Greater Victoria residents over Victoria Day. (Black Press Media File)

Gas prices drop slightly, highest ever for Victoria Day

Prices dropped by 2.9 cents per litre averaging 225.63 as of May 22, according to GasBuddy

Gas prices dropped slightly but offered little respite for Greater Victoria residents over Victoria Day. (Black Press Media File)
Heavy equipment is shown at the Cheetah Resources Nechalacho Project near Yellowknife, Northwest Territories in an undated handout image. The country’s first rare earth mine has started delivering concentrated ore. THE CANADIAN PRESS/ BILLBRADENPHOTO / HO-CHEETAH RESOURCES

First Canadian rare earth mine starts shipping concentrate from N.W.T.

Minerals critical for computers, wind turbines and electric cars

Heavy equipment is shown at the Cheetah Resources Nechalacho Project near Yellowknife, Northwest Territories in an undated handout image. The country’s first rare earth mine has started delivering concentrated ore. THE CANADIAN PRESS/ BILLBRADENPHOTO / HO-CHEETAH RESOURCES
The City of Colwood has set priority actions for the year as part of its Business Retention, Expansion and Attraction Strategy. (Black Press Media file photo)

Colwood council sets priorities for business strategy

Business Retention, Expansion and Attraction Strategy aims to guide business support and growth

The City of Colwood has set priority actions for the year as part of its Business Retention, Expansion and Attraction Strategy. (Black Press Media file photo)
Bill Singer checks for proof of vaccination at the doors of the Rumrunner Pub, which he owns and manages in Sidney. His decision to keep the vaccination requirement in place has sparked online criticism but also earned praise from customers. (Wolf Depner/News Staff)

Sidney restaurant still checking vaccine passports receives support from patrons

Owner Bill Singer thought other establishments would make the same decision

Bill Singer checks for proof of vaccination at the doors of the Rumrunner Pub, which he owns and manages in Sidney. His decision to keep the vaccination requirement in place has sparked online criticism but also earned praise from customers. (Wolf Depner/News Staff)
According to Statistics Canada, Greater Victoria’s unemployment rate was 4.1 per cent in mid-March, down 0.1 per cent from February. (Black Press Media file photo)

Easing of pandemic measures, other factors keep Greater Victoria unemployment low

Jobless rate of 4.1 per cent keeps metropolitan area among the most employed in Canada

According to Statistics Canada, Greater Victoria’s unemployment rate was 4.1 per cent in mid-March, down 0.1 per cent from February. (Black Press Media file photo)
B.C. announced a new Mass Timber Action Plan April 7, with an initial invesment of $1.2 million into four structures. (Black Press Media file photo)

B.C. investing in future of mass timber with 4 new structures, long-term action plan

Province looks to be leading producer in carbon-capturing material

B.C. announced a new Mass Timber Action Plan April 7, with an initial invesment of $1.2 million into four structures. (Black Press Media file photo)
Shipping containers are shown at the Port of Montreal, Sunday, April 25, 2021.Statistics Canada says the country’s merchandise trade surplus narrowed in February as imports rose at a faster pace than exports. THE CANADIAN PRESS/Graham Hughes

Canada posted smaller merchandise trade surplus in February, StatCan reports

By country, imports from China had the strongest growth by far, up 26.9 per cent

Shipping containers are shown at the Port of Montreal, Sunday, April 25, 2021.Statistics Canada says the country’s merchandise trade surplus narrowed in February as imports rose at a faster pace than exports. THE CANADIAN PRESS/Graham Hughes
Temporary foreign workers from Mexico plant strawberries on a farm in Mirabel, Que., on May 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes

Facing labour shortages, Liberals loosen rules on foreign workers ahead of budget

Changes announced Monday will allow employers to hire foreign workers for more low-wage jobs

Temporary foreign workers from Mexico plant strawberries on a farm in Mirabel, Que., on May 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
Auto worker Angely Labo works in the body shop producing the Chevrolet Silverado, at the GM Assembly plant in Oshawa, Ont. A new report co-authored by the UVic-based Pacific Institute for Climate Solutions found Canada has a narrow window to insert itself as a leader in making larger electric vehicles. (THE CANADIAN PRESS/Chris Young)

UVic institute report finds Canada must act now to prosper in net-zero marketplace

Coordinated effort needed as country risks losing opportunities to trading partners

Auto worker Angely Labo works in the body shop producing the Chevrolet Silverado, at the GM Assembly plant in Oshawa, Ont. A new report co-authored by the UVic-based Pacific Institute for Climate Solutions found Canada has a narrow window to insert itself as a leader in making larger electric vehicles. (THE CANADIAN PRESS/Chris Young)
A Canadian Pacific locomotive. (File photo: THE CANADIAN PRESS/Jeff McIntosh)

Surrey Board of Trade ask feds to declare rail essential service as CP strike halts

‘Surrey’s agricultural exports are a critical piece of food security for all of Canada,’ board CEO Anita Huberman says

A Canadian Pacific locomotive. (File photo: THE CANADIAN PRESS/Jeff McIntosh)
FILE - Farmers harvest with their combines in a wheat field near the village Tbilisskaya, Russia, July 21, 2021. The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, March 17, 2022, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. (AP Photo/Vitaly Timkiv, File)

War in Ukraine will take global economic toll, group warns

OECD: conflict to reduce gross domestic product by 1.08% worldwide, 1.4% in the 19 Euro countries

FILE - Farmers harvest with their combines in a wheat field near the village Tbilisskaya, Russia, July 21, 2021. The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, March 17, 2022, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. (AP Photo/Vitaly Timkiv, File)
Ravi Kahlon, B.C. minister of jobs, economic recovery and innovation on March 15, during a round of meetings about the provincial Stronger BC Economic Plan. (Dan Ferguson/Langley Advance Times)

B.C. outlines recovery plan for northern communities

Better access to internet and skills training among promises to northern communities

Ravi Kahlon, B.C. minister of jobs, economic recovery and innovation on March 15, during a round of meetings about the provincial Stronger BC Economic Plan. (Dan Ferguson/Langley Advance Times)
Governor of the Bank of Canada Tiff Macklem participates in a media availability at the Bank of Canada in Ottawa, on Wednesday, Dec. 15, 2021. THE CANADIAN PRESS/Justin Tang

Bank of Canada hikes key interest rate for first time since pandemic began

Central bank increases key rate by a quarter of a percentage point in bid to help fight inflation

Governor of the Bank of Canada Tiff Macklem participates in a media availability at the Bank of Canada in Ottawa, on Wednesday, Dec. 15, 2021. THE CANADIAN PRESS/Justin Tang