Leah's Feed
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.

Jul 16, 2015

Bank of Canada stumped by ‘puzzle’ of stalled exports

OTTAWA, July 16 (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.

Jul 15, 2015

Bank of Canada cuts rates again as economy contracts

OTTAWA, July 15 (Reuters) – The Bank of Canada cut its key
interest rate by 1/4 percentage point to 0.5 percent on
Wednesday, saying an unexpected economic contraction in the
first half of the year had added to excess capacity and put
downward pressure on inflation.

“Additional monetary stimulus is required at this time to
help return the economy to full capacity and inflation
sustainably to target,” the central bank said in the interest
rate decision that accompanied its quarterly Monetary Policy
Report.

Jul 14, 2015

Canada’s Conservatives may face unexpected hazard as economy cools

OTTAWA, July 14 (Reuters) – The economy has always worked
for Canadian Prime Minister Stephen Harper. Elected to Canada’s
top office three times with a platform of fiscal prudence, he
has ridden a wave of increased support each election helped by
the country’s relative economic stability.

But luck may be running out as he seeks a fourth term for
his Conservative government just as Canada teeters on the brink
of a recession.

Jul 10, 2015

Canada sheds fewer jobs than expected in June

OTTAWA, July 10 (Reuters) – Canada’s economy shed a
fewer-than-forecast 6,400 jobs last month, data from Statistics
Canada showed on Friday, prompting investors to pare back
expectations that the Bank of Canada will cut interest rates
next week.

Economists had anticipated a loss of 10,000 jobs in June.
The unemployment rate held steady at 6.8 percent, though the
participation rate edged down to 65.8 percent.