OTTAWA, March 20 (Reuters) – Canadian retail sales dropped
more than expected in January due to lower prices at the
gasoline pump, suggesting the economy may have had a weaker
start to 2015 than anticipated.
Statistics Canada also said on Friday that the annual
inflation rate in February was pressured by cheap gasoline as
well, holding steady at 1 percent, matching expectations, and at
the low end of the Bank of Canada’s target range.
GATINEAU, Quebec (Reuters) – Canadian television viewers will no longer be forced to pay for vast numbers of channels they do not watch, the country’s broadcast regulator said in a sweeping ruling on Thursday.
The Canadian Radio-television and Telecommunications Commission (CRTC) said cable and satellite providers had to offer viewers an affordable basic package and allow them to choose additional channels.
OTTAWA, March 6 (Reuters) – Bank of Canada Governor Stephen
Poloz has made life more challenging for financial market
forecasters, with an approach some say lacks enough guideposts
to allow them to properly model the path of future interest rate
In addition to ditching the forward guidance pioneered in
Canada by predecessor Mark Carney, now governor of the Bank of
England, Poloz has left some economists and strategists feeling
less confident about what economic indicators they should work
from and how much they will influence policy.
OTTAWA, March 4 (Reuters) – The Bank of Canada held interest
rates steady on Wednesday, in line with signals it sent out over
the past two weeks, and voiced satisfaction with how the market
and the economy have reacted to its surprise rate cut in
“The risks around the inflation profile are now more
balanced and financial stability risks are evolving as expected
in January,” the central bank said as it announced its benchmark
overnight interest rate would stay at 0.75 percent.
OTTAWA, March 3 (Reuters) – The Canadian economy grew at a
faster pace than expected in the final quarter of last year as
consumer spending and a build up in inventories offset a decline
in exports, reaffirming expectations the Bank of Canada will
hold interest rates steady later this week.
Still, the 2.4 percent annualized rate for gross domestic
product (GDP) in the fourth quarter marked a step down from an
upwardly revised 3.2 percent in the third quarter, the report
from Statistics Canada showed on Tuesday. The fourth quarter
surpassed economists’ forecasts for 2 percent.
OTTAWA, Feb 27 (Reuters) – When Bank of Canada Governor
Stephen Poloz abandoned a policy of offering forward guidance on
interest rates last year, he said telling traders explicitly
what’s going to happen can boost volatility as it spurs a rush
for the exits when things change.
But traders say that so far the policy shift has in fact
increased volatility with the central bank blindsiding markets
with its surprise rate cut in January, and then catching them
off guard again this week with comments by Poloz suggesting it
will hold rates steady next month.
OTTAWA/BENGALURU (Reuters) – The Bank of Canada will likely hold interest rates steady next week as it waits to see how last month’s surprise cut is absorbed by the economy, though analysts expect the central bank to lower rates once more by mid-year, a Reuters poll found.
Comments from Governor Stephen Poloz earlier this week proved crucial to cementing analysts’ forecasts.
LONDON, Ontario, Feb 24 (Reuters) – The Bank of Canada’s
surprise rate cut last month bought the central bank time to see
how the economy responds to a plunge in oil prices, Governor
Stephen Poloz said on Tuesday in the bank’s last pronouncement
before its March 4 rate decision.
Poloz did not refer to next week’s announcement, saying only
that the Jan. 21 cut was intended to take out insurance both
against too-low inflation and against financial instability
posed by high household debt. “The sudden drop in global oil
prices has increased both risks,” he said in a speech.
OTTAWA, Feb 16 (Reuters) – Canadian Pacific Railway
and the Teamsters Canada union have agreed to seek mediated
arbitration, ending a one-day strike at the country’s No. 2
railway, Canada’s labour minister said on Monday.
“The strike is over,” Labour Minister Kellie Leitch told
reporters. “Our intention is to get service working at 100
percent by tomorrow morning.”
OTTAWA/TORONTO, Feb 13 (Reuters) – The Canadian government
said on Friday it had joined contract talks between Canadian
Pacific Railway Ltd and unionized staff ahead of a
possible weekend strike, but it also began laying the groundwork
to introduce back-to-work legislation.
Canadian Labour Minister Kellie Leitch intervened in the
negotiations to encourage an agreement and stave off a potential
weekend strike, her spokesman said.