OTTAWA, Jan 30 (Reuters) – Canada’s economy unexpectedly
shrank by 0.2 percent in November, prompting market talk that
the Bank of Canada will cut interest rates in March for the
second time in six weeks.
Analysts had expected no growth from October. The
month-on-month decline was the largest since a 0.4 percent drop
in December 2013.
OTTAWA (Reuters) – The wife of a Saudi rights activist, sentenced last year to 1,000 lashes for criticizing the Kingdom’s clerics in his blog, said on Thursday her husband’s health had worsened after the first round of flogging and that he could not survive the full punishment.
Raif Badawi, 31, a blogger and founder of the “Free Saudi Liberals” website, received 50 lashes on Jan 9. The second of 20 rounds in total has twice been postponed on medical grounds.
OTTAWA (Reuters) – Canada’s electronic spy agency has been intercepting and analyzing data on up to 15 million file downloads daily as part of a global surveillance program, according to a report published on Wednesday.
Critics said the revelations, made in 2012 documents obtained by former U.S. spy agency contractor Edward Snowden and leaked to journalists, showed much more oversight was needed over Canada’s Communications Security Establishment (CSE).
OTTAWA, Jan 27 (Reuters) – If Canada’s opposition Liberals
win the election set for this October they would be able to
boost spending on their priorities without necessarily running a
budget deficit, party leader Justin Trudeau told Reuters on
Trudeau’s centrist Liberals are neck and neck with the
governing right-of-center Conservatives in the runup to the
OTTAWA (Reuters) – Canadian Finance Minister Joe Oliver insisted on Monday that the government would balance next year’s budget despite falling oil prices and said the country’s economy would outperform most of its rivals.
Oliver, who says the oil price plunge will not overly harm the economy, is under pressure from opposition legislators who say his reassurances lack credibility. Crude prices have sunk by more than half from their peak last June.
OTTAWA, Jan 23 (Reuters) – Lower gasoline costs pulled down
the Canadian annual inflation rate in December to a nine-month
low, Statistics Canada said on Friday, two days after the Bank
of Canada cut interest rates due to slumping oil prices.
The annualized rate in December dropped to 1.5 percent from
2.0 percent in November, which is the midpoint of the Bank of
Canada’s 1 to 3 percent target range. The rate of inflation -
the lowest since the 1.5 percent recorded in March 2014 -
matched market expectations.
LONDON, Ontario (Reuters) – A stunning rate cut by the Bank of Canada may be the just the thing Canadian Prime Minister Stephen Harper needs to preserve a promised budget surplus as he heads into an election campaign dominated by plunging oil prices and faltering economy.
The central bank’s move to cut overnight interest rates to 0.75 percent from 1 percent – the first rate move since September 2010 – could stimulate Canada’s plodding economy and lower the government’s debt costs just enough to preserve Harper’s long-promised budget surplus.
LONDON, Ontario, Jan 20 (Reuters) – Canadian opposition
leader Justin Trudeau, who polls indicate could win power in the
election set for later this year, accused Prime Minister Stephen
Harper on Tuesday of mismanaging the economy as oil prices
Trudeau’s Liberals aim to oust the governing Conservatives,
who took power in early 2006 and who have long campaigned on
their ability to manage the economy. They are looking for a rare
fourth consecutive victory in October’s election.
OTTAWA, Jan 15 (Reuters) – Canada has quietly postponed a
summit with the leaders of the United States and Mexico amid
tensions over the construction of TransCanada Corp’s
Keystone XL pipeline and other issues, sources indicated on
Canadian Prime Minister Stephen Harper had been due to host
U.S. President Barack Obama and Mexican President Enrique Pena
Nieto for the annual meeting of the so-called Three Amigos, and
a date had tentatively been set for late February, said two
sources familiar with the plans.
WASHINGTON/OTTAWA, Jan 14 (Reuters) – Canada is committed to
taking outmoded tank cars off the rails years earlier than U.S.
officials envision, sources familiar with negotiations say,
leaving the trading partners at an impasse as they try to
harmonize oil train safety measures.
In the wake of the 2013 Lac-Megantic disaster, in which 47
people died after an oil train derailed and blew up in Canada,
both nations agreed to retire older versions of the tank car
model involved in that tragedy, the DOT-111.