Unique natural events caused by the effects of climate change need to be considered in a financial organization’s risk analysis, according to a new report by the Canadian Institute of Actuaries. The report examined work and recommendations of the task force on climate-related financial disclosures on climate risk frameworks for the Canadian financial sector. It […]
Nearly a third (32 per cent) of Canadian small- and medium-sized employers are currently facing challenges in attracting employees, according to a new survey by ADP Canada. The survey, which polled more than 750 Canadian business decision-makers and employees from SMEs, found, among those that reported difficulty attracting and retaining talent, 69 per cent said […]
Since the onset of the coronavirus pandemic three years ago, the global economy has faced a bumpy ride, led by the lingering public health crisis, rising geopolitical tensions and high inflation. The 2023 Defined Contribution Investment Forum, which was held on Sept. 29 at the Ritz-Carlton Hotel in Toronto, shared thought leadership on the various […]
Defined contribution pension plan members are currently in a different place, especially the younger generations, who are likely feeling as though their financial priorities don’t line up with workplace pensions the way they did for previous generations. “What I’m getting at here is the idea that retirement saving isn’t the undeniable consensus top priority it […]
The Bank of Canada raised interest rates again on Wednesday and released new projections that suggest it will take longer to get inflation back to two per cent. The central bank hiked its key interest rate by a quarter of a percentage point, bringing it to five per cent. Forecasters were widely anticipating the central […]
“Let me start by pointing out the obvious: the last few years have been exhausting,” said Mina Krishnan, multi-asset portfolio manager at Schroders, during a session on regime shifts at the Canadian Investment Review’s 2023 Global Investment Conference. “We’ve had the [coronavirus] pandemic, the war in Ukraine, the energy crisis and Brexit.” As a result […]
Fewer than a quarter of Canadian employees describe their wellness as ‘very good,’ a score of nine or 10 out of 10, according to a new survey by Desjardins Insurance. The survey, which polled more than 2,000 workers, found overall wellness scores were lower for LGBTQ2S+ employees, as well as workers who are unhappy with […]
If there was one message for defined benefit pension plan sponsor delegates at the 2022 Defined Benefit Investment Forum, it was that the fate of global markets in 2023 is on a knife’s edge. In the keynote address, Douglas Porter, chief economist and managing director at BMO Financial Group, said he expects the Canadian economy […]
In a move widely anticipated by the financial sector, the Bank of Canada is increasing its target for the overnight rate to 0.5 per cent. “Persistently elevated inflation is increasing the risk that longer-run inflation expectations could drift upwards,” said the bank in a press release. “The bank will use its monetary policy tools to […]
Financial sector workers with a keen understanding of sustainable finance issues are in high demand in Canada, according to a United Nations-backed report. The report, commissioned by the UN-linked Financial Centres for Sustainability, Deloitte and Toronto Finance International, was based on responses from individuals working at asset management companies, banks, insurance companies, pension plans and other financial sector organizations. While all […]