, holding throughout 2023 with no rate cuts expected. “The challenge is that inflation is a lagging and backward-looking indicator, and interest rates work with quite a big lag, meaning the peak impact and transmissions won’t be known until next year,” says TD’s chief economist Beata Caranci. “If the Bank of Canada cuts rates too early, they can undo so much of the hard fought progress.
Yet, hundreds of pages of e-mails and reports obtained by The Globe show one of Canada’s most prominent private-sector unionsto ensure that app-based drivers and delivery workers in Ontario would not be granted employee status – a change that would have expanded their pay and benefits.
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