News of the day: Bank of Canada, cottage country, CRA disagreements, BMO’s U.S. business, duty free troubles and more

Bank of Canada senior deputy government Carolyn Rogers acknowledged Thursday that the persistence of inflation following the pandemic surprised central bankers. Photo by HYUNGCHEOL PARK/Postmedia

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It’s Thursday, March 26. Here are the top stories we’re following today.

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Soaring oil prices are raising concerns among economists that inflation there will spread to other segments of the economy. Against that backdrop, Bank of Canada senior deputy government Carolyn Rogers acknowledged Thursday that the persistence of inflation following the pandemic surprised central bankers and delayed raising interest rates. She said the central bank took important lessons from that recent “difficult” experience.

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Limited supply is continuing to push recreational property prices higher. Photo by Getty Images

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The work-from-home boom that drove buyers into Canada’s cottage market during the COVID-19 pandemic is now fading as some families return to city life, but limited supply continues to push recreational property prices higher, says real estate brokerage, Royal LePage.

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For individual taxpayers, the deadline for filing an objection is one year from the normal filing due date or 90 days after the date printed on the Notice of Assessment, whichever is later. Photo by Getty Images

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Once you get your Notice Of Assessment, take a close look to verify that the Canada Revenue Agency has assessed your tax return the way you expected. If not, you have the formal right to object and, ultimately, to your day in court.

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Deepening client relationships is another aspect Bank of Montreal is focusing on as it tries to achieve its return on equity target in the next three years. Photo by Cole Burston/Bloomberg

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The Bank of Montreal says it wants to boost its return on equity to more than 15 per cent by 2028 by bolstering its business in the United States, deepening client relationships, increasing the use artificial intelligence.

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Liz Bucar, sales supervisor at the Tunnel Duty Free Shop in Windsor, Ont. Photo by WINDSOR STAR - DAN JANISSE

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The duty free shops at Canada’s land borders depend entirely on cross-border traffic into the United States, and the downturn is placing extreme pressure on small businesses in border communities across the country.

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