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GDP stays positive even as high rates remain

8/2/2023

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The Canadian economy continued to show resiliency this spring. Statistics Canada reports that Gross Domestic Product stayed in positive territory. The Bank of Canada will make its next interest rate announcement on Sept. 6.
 
Business leaders will be watching closely as high-interest rates used to fight inflation have a direct impact on the cost of investment. A Globe and Mail interview with CIBC World Markets' deputy chief economist Benjamin Tal is a good read for insights to help cut through the confusing times. Tal said he thinks interest rates have peaked or are close to the peak. He added that conditions are right for rapid growth in business investment in 2025 as inflation subsides and productivity increases thanks to innovations such as AI.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards >
        • 2023 Business Awards
      • Picnic in the Park
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Small Business Month
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • BizNews Articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • The Chamber 1863
    • 1863-Indigenous
    • 1863-Early Chamber
    • 1863-History Events
    • 1863-Booms and Busts
    • 1863-Members & Communities
    • 1863-Women, people and organizations
    • 1863-Committees
    • 1863-Chairs and Chair Businesses
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us