TORONTO (Reuters) – The coming year is unlikely to bring any relief to the weakening Canadian dollar as the Bank of Canada’s neutral stance prompted analysts in a Reuters poll to renew their pessimistic forecasts for the currency.
A number of factors are working against the loonie, not least of which is the growing view that the domestic central bank could be comfortable sitting on the sidelines even as the Federal Reserve starts to raise U.S. interest rates next 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 23 (Reuters) – Canadian retail sales slipped
unexpectedly in July, falling 0.1 percent from June’s record
level after six straight monthly increases, as strong auto sales
failed to offset weakness elsewhere, data showed on Tuesday.
This was the last major data point before gross domestic
product figures for July are released next Tuesday. Figures from
Statistics Canada have already shown strong exports and
manufacturing sales for the month but a 0.3 percent fall in
TORONTO (Reuters) – “The Imitation Game,” a biopic about British mathematician and World War Two code-breaker Alan Turing, won the top prize at the Toronto International Film Festival on Sunday.
The film, which stars Benedict Cumberbatch as Turing, took the Groslch People’s Choice award for best film at the 39th edition of the festival.
TORONTO, Sept 13 (Reuters) – “A Little Chaos,” may be a film
about the building of the gardens of Versailles set in 1682, but
director Alan Rickman wants audiences to know that he does not
view it as a period piece.
Rather, the movie – which will have its world premiere as
the closing gala of the Toronto International Film Festival on
Saturday – is about the character of Sabine De Barra, a woman
trying to navigate a man’s world as she comes to grips with her
own personal losses.
TORONTO/OTTAWA, Sept 11 (Reuters) – Canadian small
businesses will get C$550 million ($500 million) in rebates on
their employment insurance premiums over the next two years in
order to boost hiring, Finance Minister Joe Oliver said on
The Small Business Job Credit will effectively lower small
businesses’ employment insurance premiums to $1.60 per $100 of
insurable earnings as of Jan. 1 from the current legislated rate
of $1.88, or about a 15 percent cut.
TORONTO, Sept 10 (Reuters) – The sheer physicality of
playing a character in chronic pain was the most challenging
part of starring in the film “Cake,” Jennifer Aniston said of a
leading role that turns one of the world’s most glamorous
actresses into a bitter, unpleasant woman.
In the film, which had its world premiere at the Toronto
International Film Festival on Monday, Aniston plays Claire
Simmons, a woman suffering from constant pain and pill addiction
who is haunted by hallucinations of a fellow support-group
member who committed suicide.
TORONTO, Sept 4 (Reuters) – The Canadian government wants
credit card companies and banks to voluntarily agree to lower
transaction fees paid by retailers, and to do so within months,
Finance Minister Joe Oliver said on Thursday.
“We’ve said in last year’s budget that the government will
work with stakeholders to promote fair and transparent practices
and to help lower credit card acceptance fees for merchants and
also to encourage merchants to reduce prices for consumers,”
Oliver told a news conference.
TORONTO, Aug 12 (Reuters) – The July version of Canada’s
market-moving jobs report contained an error and must be
restated, the country’s main statistics agency said on Tuesday,
pointing to the latest in a series of mistakes that have damaged
its reputation in recent years.
Statistics Canada said in a statement that the source of the
error has been identified and that corrected estimates will be
released on Aug. 15. It did not specify what the error was.
OTTAWA/TORONTO, July 18 (Reuters) – Canada’s annual
inflation rate edged up to a 28-month high in June, the second
month in a row it has exceeded the Bank of Canada’s target,
posing a challenge to the central bank’s view that recent
strength in prices is temporary.
Annual inflation rose to 2.4 percent last month, Statistics
Canada said on Friday, the highest rate since the 2.6 percent
seen in February 2012. It also surpassed forecasts for inflation
to hold at May’s 2.3 percent level.