{"id":45501,"date":"2026-10-09T11:14:50","date_gmt":"2026-10-09T14:14:50","guid":{"rendered":"https:\/\/www.rdeeipe.net\/?p=45501"},"modified":"2026-10-09T14:30:13","modified_gmt":"2026-10-09T17:30:13","slug":"the-resilience-of-canadian-entrepreneurs-will-ensure-their-survival-the-bank-of-canada","status":"publish","type":"post","link":"https:\/\/www.rdeeipe.net\/en\/2026\/10\/la-resilience-des-entrepreneurs-canadiens-assurera-leur-survie-la-banque-du-canada\/","title":{"rendered":"The resilience of Canadian entrepreneurs will ensure their survival: the Bank of Canada"},"content":{"rendered":"<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-1024x667.jpg\" alt=\"Five people in front of banners from the Bank of Canada\" class=\"wp-image-45502 lazyload\"><noscript><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"667\" src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-1024x667.jpg\" alt=\"Five people in front of banners from the Bank of Canada\" class=\"wp-image-45502\" srcset=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-1024x667.jpg 1024w, https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-300x195.jpg 300w, https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-767x500.jpg 767w, https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-1536x1001.jpg 1536w, https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle-18x12.jpg 18w, https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/avec-Toni-Gravelle.webp 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/noscript><figcaption class=\"wp-element-caption\"><em>Some members of the RD\u00c9E IPE team and the Acadian and Francophone Chamber of Commerce of PEI (CCAFLIPE) had the honor of meeting Toni Gravelle, Deputy Governor of the Bank of Canada, following his presentation at a breakfast hosted by the Greater Summerside Chamber of Commerce on the morning of October 8. From left to right, we see Sebastian Vargas, Entrepreneurial Projects Manager, Emmanuelle Camara, Navigator of the Employment Support Service, speaker Toni Gravelle, Raymond J. Arsenault, Manager of CCAFLIPE, and Robert Maddix, Entrepreneurship Manager.<\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>SUMMERSIDE \u2013 October 8, 2026 \u2013<\/strong> Even as these economic times are very uncertain due to the trade war and other factors, the Deputy Governor of the Bank of Canada remains confident that the Canadian economy will survive, especially because he knows that Canadian entrepreneurs are resilient and will find ways to cope.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking at a breakfast of the Greater Summerside Chamber of Commerce on Thursday morning, in front of about 100 business people, Deputy Governor Toni Gravelle indicated that his institution is doing everything it can to prevent the inflation rate from rising too much. His bank hoped to keep it at a Canadian average of about 2.25 percent for this year, but it seems it will reach 3 percent, mainly due to high gas and oil prices. For the Island, the rate is expected to be around 4.4 percent, he predicts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All of this is complicated as people and entrepreneurs, faced with market uncertainties, are spending less or waiting to see what will happen before purchasing new equipment or machinery or hiring new employees, he noted in his general address.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>FIRESIDE CHAT<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/Sanderson-et-Gravelle-1024x1017.jpg\" alt=\"Two men are discussing in front of microphones during an event.\" class=\"wp-image-45503 lazyload\"><noscript><img decoding=\"async\" src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/Sanderson-et-Gravelle-1024x1017.jpg\" alt=\"Two men are discussing in front of microphones during an event.\" class=\"wp-image-45503\"><\/noscript><figcaption class=\"wp-element-caption\"><em>Sam Sanderson, on the left, President of the Greater Summerside Chamber of Commerce, hosts a \u00abfireside chat\u00bb discussion with Toni Gravelle, Deputy Governor of the Bank of Canada.<\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">There, during a \u00abfireside chat\u00bb style discussion with Chamber President Sam Sanderson, the Deputy Governor answered several interesting and diverse questions from Chamber members.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. Gravelle noted that Canadian exports of oil and gas have increased significantly, generating more revenue for the Canadian economy. Additionally, the defense sector is investing significant amounts in major projects across the country, which is generating good returns.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As for the labor market on the Island, there was a 2.5 percent increase last year, even after immigration restrictions. This year, he expects the figure to be slightly lower.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The relatively new sector of artificial intelligence \u2013 and more specifically the technical industry that supports it \u2013 is positioned to generate significant revenue. A lot of copper and electrical \u00abtransformers\u00bb are produced that can be exported worldwide for this purpose. But Mr. Gravelle admits that this entire industry is somewhat in a \u00abbubble\u00bb that is inflating very quickly and is becoming a bit precarious.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regarding worker productivity, Mr. Gravelle indicated that the vast majority of \u00abbaby boomers,\u00bb in their final years in the labor market, were very productive. And then, when they retired en masse, there was an immediate noticeable decline in the overall productivity of the workforce. But now their children have had time to gain more experience and are restoring the level of productivity that was previously seen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the speaker, the best thing entrepreneurs can do right now is to diversify their customer bases and sell their products to different countries or especially to different parts of Canada. They should explore other supply chains (than those coming from American sources) and try to reduce their production costs. He believes that small and medium-sized enterprises are more capable of innovating and responding more quickly to market demands.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/au-dejeuner-Summerside-1024x813.jpg\" alt=\"Group gathered around a table at the restaurant\" class=\"wp-image-45504 lazyload\"><noscript><img decoding=\"async\" src=\"https:\/\/www.rdeeipe.net\/wp-content\/uploads\/2026\/10\/au-dejeuner-Summerside-1024x813.jpg\" alt=\"Group gathered around a table at the restaurant\" class=\"wp-image-45504\"><\/noscript><figcaption class=\"wp-element-caption\"><em>Employees of RD\u00c9E IPE, CBDC Central PEI, and others are listening attentively to the presentation by the Deputy Governor of the Bank of Canada.<\/em><\/figcaption><\/figure>","protected":false},"excerpt":{"rendered":"<p>SUMMERSIDE \u2013 le 8 octobre 2026 \u2013 M\u00eame alors que ces temps \u00e9conomiques sont tr\u00e8s incertains en raison de la guerre de tarifs et autres facteurs, le sous-gouverneur de la Banque du Canada demeure confiant que l\u2019\u00e9conomie canadienne survivra, surtout parce qu\u2019il sait que les entrepreneurs canadiens sont r\u00e9silients et trouveront des moyens de moyenner. 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