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Dec 10, 2014

Bank of Canada: steady financial risk despite overvalued housing

OTTAWA (Reuters) – Canadian housing may be overvalued by as much as 30 percent, but risks to the country’s financial system remained steady with a stronger U.S. recovery expected to help keep Canada’s economy out of trouble, the Bank of Canada said on Wednesday.

The central bank also said the recent slump in oil prices was not enough to trigger a severe recession that could lead to a sharp correction in housing prices.

Dec 9, 2014

Canada introduces bill to expose U.S.-Canada price inequities

OTTAWA, Dec 9 (Reuters) – The Canadian government introduced
legislation on Tuesday to give the country’s competition
watchdog the power to embarrass companies that charge more for
products in Canada than they do in the United States.

The Conservative government’s proposed Price Transparency
Act would fall short of making it illegal to engage in price
discrimination. Doing so had been roundly criticized by
economists as undue interference in the marketplace. Instead,
the bill provides a mechanism to expose price differences.

Dec 3, 2014

Bank of Canada sees broadening recovery, oil price risk

OTTAWA, Dec 3 (Reuters) – The Bank of Canada held its policy
rate unchanged at 1 percent on Wednesday, declaring that while
Canada’s economic recovery is broadening to include exports and
business investment, lower oil prices could cut inflation more
than expected.

“Canada’s economy is showing signs of a broadening
recovery,” the bank said. “Stronger exports are beginning to be
reflected in increased business investment and employment. This
suggests that the hoped-for sequence of rebuilding that will
lead to balanced and self-sustaining growth may finally have
begun.”

Nov 21, 2014

Canada inflation jumps in October, pressuring the central bank

OTTAWA, Nov 21 (Reuters) – Canada’s annual inflation rate
jumped last month as prices for shelter and food rose, putting
pressure on the Bank of Canada’s stance that interest rates will
remain low for some time.

Year-on-year inflation rose to 2.4 percent in October,
Statistics Canada data showed on Friday. That was the highest
level since June, surpassing economists’ expectations for a
slight rise to 2.1 percent from September’s 2.0 percent.

Nov 11, 2014

Canada honors war dead weeks after soldiers die in domestic attacks

OTTAWA (Reuters) – Thousands gathered for Remembrance Day ceremonies at Canada’s war memorial on Tuesday, the same site where a soldier was shot dead three weeks ago in an attack on parliament.

The annual Nov. 11 Remembrance Day honoring Canada’s war dead has taken on increased significance this year after two soldiers were killed in separate attacks in October that police said were carried out by radical recent converts to Islam.

Nov 10, 2014

Canadian housing starts slow modestly in October

OTTAWA, Nov 10 (Reuters) – Canadian housing starts
unexpectedly cooled in October as builders broke ground on fewer
multiple-unit homes, including apartment buildings and
condominiums, data showed on Monday.

The seasonally adjusted annualized rate of housing starts
declined to 183,604 units last month from a revised 197,355
units in September, according to a report from the Canada
Mortgage and Housing Corp, the country’s national housing
agency.

Nov 4, 2014

BoC – stimulus still needed despite stability risks concern

OTTAWA, Nov 4 (Reuters) – The Bank of Canada will plow ahead
with monetary stimulus despite risks from high household debt
and a hot housing market, Governor Stephen Poloz said on
Tuesday, pointing to recent weak data as a “brutal reminder” of
the economy’s fragility.

The central bank has kept its overnight rate at 1 percent
for more than four years, leading to concerns this might cause a
new crisis because of high household debt and housing prices.

Oct 23, 2014

Cheers, tributes for Canadian guard credited with killing gunman

OTTAWA (Reuters) – The guard credited with killing a gunman in Canada’s parliament fought back tears as lawmakers greeted him with a prolonged standing ovation, cheers and whistles on Thursday when he resumed his duties.

Canadian Prime Minister Stephen Harper and fellow lawmakers stood for a thunderous, minutes-long ovation as Kevin Vickers, the House of Commons’ Sergeant-at-Arms, led the traditional parade that opens every House session, dressed in ceremonial garb.

Oct 23, 2014

Canadian guard credited with killing gunman greeted as hero

OTTAWA (Reuters) – The guard credited with killing a gunman in Canada’s parliament fought back tears as lawmakers greeted him with a prolonged standing ovation, cheers and whistles on Thursday when he resumed his duties.

Canadian Prime Minister Stephen Harper and fellow lawmakers stood for a thunderous, minutes-long ovation as Kevin Vickers, Canada’s Sergeant-at-Arms, led the traditional parade that opens every session of the House of Commons, dressed in ceremonial garb.

Oct 23, 2014

Canada PM vows crackdown after capital shocked by fatal attacks

OTTAWA (Reuters) – Canadian Prime Minister Stephen Harper vowed to redouble the country’s fight against “terrorist organizations” abroad after a reported convert to Islam rampaged through parliament, shocking the usually tranquil capital city.

Shortly after a gunman shot dead a soldier at the National War Memorial in central Ottawa on Wednesday morning, a man armed with a shotgun burst into the Center Block of Parliament, pursued by police. He died after dozens of shots rang out a few yards away from where Harper was talking to his legislators.