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.
TORONTO, March 24 (Reuters) – Canada’s financial benchmarks
have not been manipulated the way the London Interbank Offered
Rate (Libor) has, and the country is tightening its rules to try
to make sure they never are, Bank of Canada Deputy Governor Tim
Lane said on Monday.
“Whether it is a liter of wine, a pound of butter or an
interest rate benchmark, there should be no question that
measurements for commercial and financial transactions are
accurate and fair,” he said in the prepared text of a speech in
TORONTO, March 10 (Reuters) – Canadian housing starts rose
more than expected in February, data released on Monday showed,
but the modest increase did not sway economists’ expectations
that the country’s housing market will cool this year.
The seasonally adjusted annualized rate of housing starts
rose to 192,094 units last month from a upwardly revised 180,481
in January, the Canada Mortgage and Housing Corp (CMHC) said.
That topped expectations for an increase to 189,500.
OTTAWA/TORONTO, March 6 (Reuters) – The value of building
permits issued in Canada surged in January, while the pace of
purchasing activity unexpectedly picked up last month,
suggesting some of the impact of unusually harsh winter weather
may be dissipating in Canada.
Building permits jumped by 8.5 percent at the beginning of
the year, data from Statistics Canada showed on Thursday,
handily surpassing expectations for a 1 percent increase.
VANCOUVER/TORONTO, March 5 (Reuters) – Canadian police have
launched an investigation after online bitcoin bank Flexcoin,
which closed its virtual doors this week, said that it had lost
about $600,000 worth of the digital currency in a hacker attack.
The Edmonton, Alberta-based company reported the theft of
896 bitcoins on its website on Monday and said it “does not have
the resources (or) assets … to come back from this loss.” It
blamed the attack on hackers who had targeted its online wallet.
OTTAWA/TORONTO, Feb 27 (Reuters) – Lower prices for crude
oil helped to widen Canada’s current account deficit to its
fourth-largest level ever in the final months of last year,
underlining economists’ expectations that net exports were a
drag on economic growth in the fourth quarter.
The gap widened to C$16.01 billion ($14.42 billion) in the
fourth quarter of 2013, Statistics Canada said on Thursday.
Still, the deficit was smaller than the C$17.00 billion analysts
had forecast and previous deficits were revised lower.
(Reuters) – Canada’s housing market boom will fade out over the next three years and although analysts say prices won’t fall from record highs most are at least somewhat worried about the risk of a crash, a Reuters poll found.
In the survey of 16 forecasters, eight said they were “slightly concerned” that after more than a decade of rapid increases in home prices, they may be at risk of a sharp fall.