The latest rate hike by the Bank of Canada is putting the onus on farmers to plan further ahead to stay on top of the financial impacts. The central bank’s policy rate increased a further 75 basis points on September 7 to 3.25%, or 13 times the rate on March 1. It’s the fifth consecutive …
FCC
Borrowing costs begin to bite
Three increases this year to the Bank of Canada’s overnight lending rate are raising financing costs for farmers. The central bank’s benchmark rate increased to 1.5% on June 1, six times what it was at the start of the year. Prior to the first increase in March, the benchmark rate had been 0.25% since March …
The battle continues long after the war is over
In November 1968, I worked on a maintenance project in a large Vancouver sawmill. To avoid the worst of the morning traffic on the Patullo bridge, I left home early and regularly spent the half-hour before work on my own drinking coffee in the gloomy lunchroom. I arrived one morning to the sound of weeping …
Produce drives BC exports
Canada’s ambitions of achieving $75 billion in agri-food exports by 2025 were set back by COVID-19, but the prospects remain bright as Marie-Claude Bibeau once more takes the reins of the department following September’s election. Farm Credit Canada released its annual review of trade shortly before Bibeau was sworn into cabinet this week, highlighting Canada’s …
Agriculture first for support
Close to three-quarters of BC residents believe agri-food companies should be first in line for government assistance to help them weather the effects of COVID-19, according to a survey market research firm Research Co. conducted in partnership with Glacier Media. “Across the province, the highest level of support for government assistance is observed for agri-food …