Bank of Canada and Governments Must Put Well-Being of Workers and Families First
September 6, 2023
OTTAWA–Canada’s unions welcome today’s Bank of Canada decision not to raise rates further but warned that with so many struggling to get by the Bank must signal an end to rate hikes while governments must act to help families being left behind. “We learned last week that our economy is contracting. Statistics Canada reported that our economy went into the…
As we head into the holidays, Canadians are struggling after being hammered by aggressive interest rate hikes
December 21, 2022
Bruske: In 2023, Parliament needs to focus on the true causes of inflation and address the affordability crisis Canadians will continue to face Today’s numbers are further evidence that inflation is already slowly moderating in Canada. Yet again, Canada’s unions are calling on the Bank to pause its tightening cycle and avoid further hiking rates. “The Bank’s rapid and aggressive…
Bank of Canada’s continuous rate hike is not slowing down inflation
November 17, 2022
Bruske: It’s time to address the true causes of current inflation, protect Canadians against its effects, and safeguard jobs and incomes. OTTAWA –– Canada’s inflation rate held at 6.9 per cent in October, despite the Bank of Canada’s aggressive interest rate increases, while workers across Canada continue to see their cost of living rise. “To have the Bank of Canada…
Bank of Canada determined to push the economy into a recession, no matter the impact on Canadians
October 25, 2022
Bruske: Workers cannot keep paying the price the Bank of Canada is imposing. A recession would mean thousands of Canadians thrown out of work and downward pressure on wages. OTTAWA –– Today’s decision by the Bank of Canada to further raise interest rates will have devastating effects on the working people who drive our economy. “With corporate profits at an all-time…
New report urges rate hike pause to save workers’ jobs
October 19, 2022
An economic report from the Canadian Labour Congress and the Centre for Future Work proposes alternatives to a monetary policy-induced recession OTTAWA – A new economic report outlining the risks of the Bank of Canada’s single-minded pursuit of Canada’s inflation target through higher interest rates was released today by the Canadian Labour Congress (CLC) and the Centre for Future Work.…
Grocery greedflation leaves families paying more for food
September 28, 2022
Bruske: Corporate concentration drives up food prices as a few companies occupy an outsized market share OTTAWA––As Canadian families struggle to afford their grocery bill and as profits for grocery chains grow, Canada’s unions are calling on governments to take action on greedflation and the role it has played fuelling the ongoing inflation crisis. “Rising prices on family essentials is…
Statement by Bea Bruske: We must work to avoid a recession that would put many working families at risk
September 23, 2022
Bea Bruske, President of the Canadian Labour Congress, released the following statement after meeting between the Bank of Canada Governor and a delegation of representatives of the labour movement: “Canada’s unions were pleased to have the opportunity to meet with the Governor and Deputy Governors from the Bank of Canada and brief them on the realities facing workers and their…
Politicians must put aside the rhetoric and fix the affordability crisis
September 20, 2022
Bruske: MPs must work together to help families in need and clamp down on corporate greed OTTAWA – As Parliament reconvenes this week, Canada’s unions are urging Members of Parliament to put aside glib rhetoric and work together to provide relief for those who need it most amid the ongoing affordability crisis. Today’s inflation numbers showed that while CPI has…
Bruske: Liberal and New Democrat cooperation will help families weather this affordability crisis OTTAWA –– Canada’s unions welcomed new relief announced today to help families struggling with rising prices and congratulated the government for bringing forward measures to make life more affordable for everyday Canadians. “Moving forward on rental and dental relief is essential and will help to ease the…
Bruske: As wages lag far behind inflation, Conservative leadership candidates ignore struggling workers. OTTAWA – Canada’s unions are shining a spotlight on how the Conservative Party is missing in action when it comes to standing up for workers who are seeing their buying power shrink as their wages rise at half the rate of inflation. “Workers are worried about how…