The Daily Chase: WestJet avoids strike; Scotiabank forecasts interest rate hike ahead
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WestJet and the union representing about 1,800 of its pilots have reached an eleventh-hour deal to avert a work stoppage.
Scotia Economics is making it official, updating its view of the Bank of Canada's next rate decision and calling a further 25 basis point rate increase at the next meeting. In a note late yesterday, Scotia Chief Economist Jean-François Perrault said that on balance, the central bank can't afford to continue to wait on the sidelines to see how the previous 425 basis points worth of hikes are working through the economy, with inflation still running well above four per cent. Worth noting, Citi's Veronica Clark has already made (and reiterated) the call for 25 bp at this coming meeting, but this move by Scotia makes Perrault and Clark the lone outliers (for the moment – models change, as do calls, and we have a couple weeks to said rate decision.) CINEPLEX FIRES BACK AT COMPETITION BUREAU
Cineplex is firing back at Canada's Competition Bureau as it hit the theatre operator with a lawsuit over its ticket advertising practices. The theatre operator says the watchdog's allegations are “meritless” and that it expects the suit to be dismissed in short order. The issue here is the online pricing aspect of things – the Competition Bureau says advertised prices don't include a $1.50 booking fee, and as such are misleading to consumers, while Cineplex says it's all laid out pretty clearly, and that customers have the option to buy in person and avoid said fee altogether easily.
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