OTTAWA, Sept 30 (Reuters) – Economic growth in Canada
stalled unexpectedly in July, breaking a six-month streak of
gains and ensuring the Bank of Canada will be in no rush to
raise interest rates.
Statistics Canada said on Tuesday that real gross domestic
product in July was unchanged from June. Market analysts had
expected a 0.2 percent advance.
OTTAWA, Sept 26 (Reuters) – The European Union and Canada on
Friday dismissed threats by a top German politician to block a
free trade deal the two sides wrapped up in August after five
years of often difficult negotiations.
The deal could increase bilateral trade by a fifth to 26
billion euros ($34 billion) and is widely seen as a template for
a larger trade pact between the EU and the United States.
BRUSSELS/OTTAWA (Reuters) – Germany’s rejection of part of a multibillion-dollar trade deal between the European Union and Canada threatens to derail the agreement, in a potentially embarrassing re-run of a breakdown a year ago.
On Friday, Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso are due to announce in Ottawa the end of five years of negotiations on the trade accord, with the finalization of a 1,500-page text that its architects say should increase two-way trade by a fifth, to 26 billion euros ($33 billion) a year.
OTTAWA, Sept 24 (Reuters) – Canadian monetary policy can
diverge from that of its neighbor to the south, even as the U.S.
Federal Reserve’s exit from its extraordinary stimulus measures
will likely raise market interest rates in Canada and weigh on
the loonie, a Bank of Canada official said on Wednesday.
Deputy Governor Timothy Lane also warned that the unwinding
of the Fed’s policy could pose risks to the financial system
globally as asset prices and volatility now reflect liquidity
spawned by the accommodative actions of central banks in the
United States and other countries.
OTTAWA, Sept 19 (Reuters) – Canada’s annual inflation rate
remained above the Bank of Canada’s 2.0 percent target in August
for the fourth month in a row, putting pressure on the central
bank to drop its neutral stance on interest rates.
Statistics Canada said on Friday overall inflation held firm
at 2.1 percent while the closely watched core rate unexpectedly
jumped to 2.1 percent from 1.7 percent in July to hit a level
last seen in April 2012.
OTTAWA, Sept 17 (Reuters) – The Canadian government will
fine Canadian National Railway Co for failing to meet
minimum weekly grain volumes under an official order demanding
railways ramp up grain shipments or face penalties, a
spokeswoman for Transport Minister Lisa Raitt said on Wednesday.
The maximum weekly fine is C$100,000 ($91,100) and Raitt
will decide the amount, the spokeswoman said. A spokesman for CN
Rail said any such move would be unfounded.
OTTAWA (Reuters) – Ukrainian President Petro Poroshenko received a rapturous welcome usually reserved for sports stars from Canadian lawmakers on Wednesday as he thanked the country for helping save lives in the battle with Russian-speaking rebels.
Canada last month promised to provide Kiev with helmets and bullet-proof vests to help it secure the unstable eastern region, scene of heavy fighting.
OTTAWA, Sept 15 (Reuters) – Canada’s anemic job market poses
“significant challenges,” Prime Minister Stephen Harper
acknowledged on Monday, while promising new measures this year
to help boost the economy.
Harper’s right-leaning low-tax Conservatives, who are
trailing in the polls ahead of an election scheduled for October
2015, portray themselves as the only party that can be trusted
to maintain economic stability in the wake of the 2008
OTTAWA (Reuters) – Canadian politicians who almost saw their country torn apart by an independence referendum in 1995 say pro-union British leaders have been slow to learn lessons from that campaign but can still take steps to win the vote Scotland will hold on Sept. 18.
In a campaign with striking similarities to the Scottish vote, the predominantly French-speaking province of Quebec came within a whisker of deciding to split up Canada in the 1995 referendum, which saw support for separatism spike in the final week.
OTTAWA (Reuters) – Canadian explorers have found the wreck of one of two ships lost in the 1845 Franklin expedition to Canada’s Northwest Passage, solving an enduring historical mystery and bolstering Canada’s claim to the key Arctic trade route.
Sir John Franklin and his 128 crew in the British ships HMS Erebus and HMS Terror were seeking the fabled Northwest Passage between the Atlantic and Pacific oceans when they became stuck in ice. The men all died and the ships vanished.