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.
TORONTO, May 8 (Reuters) – New home construction in Canada
picked up in April, shaking off the effects of this year’s harsh
winter, though economists still expect activity to cool
gradually in 2014.
The seasonally adjusted annualized rate of housing starts
rose to 194,809 last month from 156,592 units in March, data
from the Canada Mortgage and Housing Corp showed on Thursday.
TORONTO (Reuters) – Canada issued its first ultra-long term bond that will mature in 50 years, the Department of Finance said on Monday, a rare move that will let the government capitalize on the current low interest rate environment.
The government of Canada issued C$1.5 billion worth of the bonds with a yield of 2.96 percent. That was similar to where the yield on the benchmark 30-year bond was trading on Monday. The bonds will mature on December 1, 2064.
TORONTO, April 28 (Reuters) – Canada may issue an ultra
long-term bond in the “near future” that matures in 50 years,
the Department of Finance said on Monday, a rare move that would
let the government capitalize on the current low interest rate
The current maximum maturity on federal bonds is 30 years,
but the Canadian government’s debt management strategy, released
in February along with the government’s 2014-15 budget, said it
would look at issuing 50-year bonds.
TORONTO, April 24 (Reuters) – Canada’s Conservative
government proposed a new voluntary pension plan on Thursday
that would shift investment risks to employees in a bid to make
pensions more sustainable, touting it as a third option to the
two main types of plans now in place.
The proposal heats up the debate over the best way to ensure
a financially secure retirement for an aging population as
pensions struggle with poor returns after the financial crisis
and employers try to rid themselves of the burden of pension
OTTAWA, April 16 (Reuters) – The Bank of Canada signaled its
continuing concern about weak inflation on Wednesday,
maintaining its neutral stance on interest rates and suggesting
it will ignore a faster than expected rise in headline inflation
because the rise will mainly reflect temporary price increases
in volatile items.
The central bank held its benchmark interest rate at 1
percent, as expected, extending a 3-1/2 year freeze on borrowing
TORONTO, April 11 (Reuters) – The Bank of Canada named
Carolyn Wilkins, an adviser to Governor Stephen Poloz, as its
No. 2 policymaker on Friday, promoting an insider with more than
a decade’s experience at the central bank to the key role.
Wilkins will become senior deputy governor for a seven-year
term starting May 2, replacing Tiff Macklem, who is leaving on
May 1 for another job. She is the first woman to hold the job of
senior deputy governor.
TORONTO, April 3 (Reuters) – A lack of comprehensive data on
Canada’s housing sector poses risks to the country’s hot real
estate market by restricting information that could help
investors make sound decisions, according to a prominent
Benjamin Tal, senior economist at CIBC, Canada’s
fifth-largest bank, called on policymakers to address the issue
as rising interest rates are expected to begin to test the
By Leah Schnurr
(Reuters) – The Canadian dollar’s respite from recent heavy selling will only be temporary as a sluggish domestic economy and a dovish central bank stance are expected to drag the currency lower, a Reuters poll released on Wednesday showed.
Investors dumped the currency at the beginning of the year, and it weakened substantially against the greenback in the first quarter.