This week, we’re keeping our economic update to the headlines, featuring the latest resources from the team at RBC Global Asset Management and RBC Wealth Management:

• How to manage a volatile stock market, podcast featuring RBC Global Asset Management’s Stu Kedwell and David Richardson
• Canadian inflation elevated, but may be close to peak, article written by RBC Wealth Management’s Claire Fan

Business owners, we have two feature articles for you this week. The first is focused on the staffing challenges that business owners are facing in the current competitive employment landscape, Tips to attract, retain and engage staff. The second article is keeping with our cyber security theme of the past two weeks, Cyber security for your business.

As always, we end our weekly newsletter with a few good news stories from in and around our community. We have also included information about a new partnership with the Milton District Hospital Foundation, Ladies Play Day.

Elinesky Schuett is back in the office!

We are thrilled to back in the office, welcoming you to meet with us in-person for your next appointment. Using our online meeting scheduler, in-person, virtual and telephone appointments will be conveniently available to you. Our team is in the office, Monday to Thursday, from 8:30 a.m. to 4:30 p.m. We will be working remotely on Fridays during the summer months.

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How to manage a volatile stock market

Emotions are running high for investors as uncertainty ripples through markets. How can investors push aside the panic and maintain their focus? This episode, Stu Kedwell, Head of North American Equities with RBC Global Asset Management, breaks down what’s driving volatility in markets today, and how he is preparing portfolios amidst the many unknowns in the months ahead. Stu also explains how long-term investors can turn volatility into their friend in order to lock in opportunities when markets eventually rebound.

Listen to the podcast online: How to manage a volatile stock market

Canadian inflation elevated, but may be close to peak Overall, elevated consumer spending, tight labour market conditions and higher wage growth are expected to maintain pressure on the Bank of Canada to hike rates quickly, including another 50 basis point increase in the overnight rate expected at the next policy decision in June. Near-term price pressures are still very firm. But we expect higher interest rates, both in Canada and abroad, will ultimately begin to cool demand and price pressures as the year progresses. Read the full article online: Canadian inflation elevated but may be close to peak

 

Tips to attract, retain and engage staff

HR best practices in turbulent times

In a recent webinar, RBC's Karen Svendsen is joined by Leslie Bradford Scott, Founder and CEO of Walton Wood Farm, and David Penney, VP of HR Outsourcing Business for ADP Canada. They discuss the staffing challenges facing Canadian businesses and offer strategies for overcoming them.

Read the full article online: Tips to attract, retain and engage staff: HR best practices in turbulent times

Cyber security for your business Whether you run a manufacturing business, an online consulting firm or a florist shop, you have information that is valuable to crafty cyber criminals. That’s why it’s important for small to medium-sized businesses to have a cybersecurity plan in place to protect their business, their customers, and their data from growing cybersecurity threats. Learn about common scams and what you can to protect your business: How to Protect Your Business Did you miss the cyber security feature in our most recent newsletters? Here are your links to the articles online, Phone messaging scams and How to protect yourself online.

 

Community Corner

Each week, we like to share a few good news stories from in and around the community. We hope that they brighten your day!

• City of Guelph offering more summer activities in 2022
• Guelph’s Earth to Table Bread Bar, Elora Mill Restaurant make top outdoor dining list
• Guelph students learn about Indigenous culture through art
• Wheelchair basketball star Patrick Anderson honoured with a sign in his hometown
• ‘By youth, for youth’ is not just an expression at The Grove
• Big Downtown Food Truck Picnic back after two-year hiatus
• Stone Road Mall unveils Guelph's first rainbow crosswalk

Milton District Hospital Foundation: Ladies Play Day The good weather is back, and so are the golf tournaments! We are thrilled to continue our sponsorship of a number of local golf tournaments, and are very excited to add a new one to our list! This year, Elinesky Schuett Private Wealth Management is the presenting sponsor for the Milton District Hospital Foundation’s Ladies Play Day. For more information or to register, please visit the event website: Ladies Play Day Golf Tournament

 

As always, we are available to connect with you personally. Please don’t hesitate to contact us at 519-822-2024 or elineskyschuett@rbc.com.