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Aug 26, 2015

Bay St rallies in biggest gain in 7 months

TORONTO/OTTAWA, Aug 26 (Reuters) – Canada’s main stock index
racked up its biggest increase in seven months on Wednesday in
another volatile session as investors dove back into shares that
had recently sold off.

The TSX, which is heavily weighted with energy stocks, has
been hit by the slide in crude prices and was caught up in the
global market rout earlier this week that was fueled by concerns
about China.

Aug 25, 2015

Risks from housing markets’ strength contained -Bank of Canada

KINGSTON, Ontario, Aug 25 (Reuters) – The risks that booming
housing markets pose to Canada and other similar economies are
being well managed by credible and effective macroprudential
policies, Bank of Canada Deputy Governor Lawrence Schembri said
on Tuesday.

Schembri, who looked at Canada, Australia, Norway, Sweden
and New Zealand, said low interest rates in the wake of the 2008
recession had helped boost the housing sector.

Aug 25, 2015

Canadian banks brace for impact from oil price selloff

TORONTO/OTTAWA (Reuters) – Canadian banks are expected to begin feeling the impact of an extended downturn in the energy sector as they exercise caution with new and existing loans to companies and individuals.

Investors will this week be poring over the balance sheets and bottom lines of the country’s biggest lenders as they post third-quarter results, with Bank of Montreal kicking off the earnings party on Tuesday. Quarterly reports by RBC, TD Bank, CIBC and Scotiabank will follow.

Aug 21, 2015

Canada inflation rate picks up in July as food prices rise

OTTAWA, Aug 21 (Reuters) – Canada’s annual inflation rate
rose to its highest level in seven months in July as higher
prices for food and clothing offset the moderating effect of
cheaper energy.

A separate report on Friday showed retail sales rose more
than expected in June, though flat volumes dulled the enthusiasm
of analysts looking for signs the economy is pulling out of its
slump.

Jul 24, 2015

PM’s budget law limits options as Canada flirts with recession

OTTAWA, July 24 (Reuters) – Canada’s Conservative government
may have tied its own hands by launching anti-deficit
legislation just as the global oil price shock was pushing the
country to the edge of recession.

What had seemed like a prudent measure now means Prime
Minister Stephen Harper has less room to maneuver just months
from an election, even if he wanted to.

Jul 21, 2015

Ottawa, the city fun forgot, tops on infidelity website

OTTAWA (Reuters) – Canada’s prim capital is suddenly focused more on the state of people’s affairs than the affairs of the state.

One in five Ottawa residents allegedly subscribed to adulterers’ website Ashley Madison, making one of the world’s coldest capitals among the hottest for extra-marital hookups – and the most vulnerable to a breach of privacy after hackers targeted the site.

Jul 17, 2015

Canada provinces agree to strategy on pipelines, climate change

OTTAWA, July 17 (Reuters) – Canada’s provinces reached a
long-sought deal on Friday over an energy plan for the country,
agreeing broadly to curb greenhouse gas emissions while also
promoting the use of pipelines.

The oil-producing province of Alberta originally conceived
the strategy as a way to ensure that it could move its fuel to
market. The plan was changed at the insistence of some of the
provinces to reflect their desire to fight climate change.

Jul 17, 2015

Canadian inflation edges up in June on food, shelter costs

OTTAWA, July 17 (Reuters) – Canada’s annual inflation rate
edged up in June, but cheaper energy prices helped keep it at
the lower end of the central bank’s target range, data from
Statistics Canada showed on Friday.

Annual inflation was 1 percent last month, up from 0.9
percent in May and in line with analysts’ forecasts. The
increase was led by higher prices for food and shelter.

Jul 16, 2015

Bad news for Canada’s currency is good news for many

TORONTO/OTTAWA, July 16 (Reuters) – Canadians’ overseas
spending power has taken a hit, but the plunge in the Canadian
dollar after the central bank cut interest rates on Wednesday to
try to revive a sputtering economy is being cheered by a wide
array of businesses.

The tourism sector, along with export-oriented manufacturers
and resource companies were among those applauding the Canadian
dollar’s six-year low on Thursday after the Bank of Canada’s
25-basis-point rate cut to 0.5 percent, which was triggered
largely by last year’s collapse in the price of oil, a major
Canadian export.

Jul 16, 2015

Bank of Canada stumped by ‘puzzle’ of stalled exports

OTTAWA (Reuters) – If anyone has an explanation why Canada’s exports disappointed in the second quarter, the country’s central bank governor would like to know.

The Bank of Canada cut interest rates by a quarter point on Wednesday for the second time this year as the economy contracted in the first half after the anticipated pick up in non-energy exports failed to arrive.