OTTAWA/BENGALURU (Reuters) – The Bank of Canada will likely hold interest rates steady next week as it waits to see how last month’s surprise cut is absorbed by the economy, though analysts expect the central bank to lower rates once more by mid-year, a Reuters poll found.
Comments from Governor Stephen Poloz earlier this week proved crucial to cementing analysts’ forecasts.
LONDON, Ontario, Feb 24 (Reuters) – The Bank of Canada’s
surprise rate cut last month bought the central bank time to see
how the economy responds to a plunge in oil prices, Governor
Stephen Poloz said on Tuesday in the bank’s last pronouncement
before its March 4 rate decision.
Poloz did not refer to next week’s announcement, saying only
that the Jan. 21 cut was intended to take out insurance both
against too-low inflation and against financial instability
posed by high household debt. “The sudden drop in global oil
prices has increased both risks,” he said in a speech.
OTTAWA, Feb 16 (Reuters) – Canadian Pacific Railway
and the Teamsters Canada union have agreed to seek mediated
arbitration, ending a one-day strike at the country’s No. 2
railway, Canada’s labour minister said on Monday.
“The strike is over,” Labour Minister Kellie Leitch told
reporters. “Our intention is to get service working at 100
percent by tomorrow morning.”
OTTAWA/TORONTO, Feb 13 (Reuters) – The Canadian government
said on Friday it had joined contract talks between Canadian
Pacific Railway Ltd and unionized staff ahead of a
possible weekend strike, but it also began laying the groundwork
to introduce back-to-work legislation.
Canadian Labour Minister Kellie Leitch intervened in the
negotiations to encourage an agreement and stave off a potential
weekend strike, her spokesman said.
TORONTO/OTTAWA (Reuters) – A landmark decision to overturn a ban on physician-assisted suicide by Canada’s top court shows it could take a tough stance on federal government legislation, including security and citizenship bills, that challenge the boundaries of the country’s rights-based constitution.
Academics and lawyers said that even though right-leaning Prime Minister Stephen Harper has appointed 7 of its 9 justices since he became prime minister in 2006, the Supreme Court is proving to be a stern defender of the Canadian Charter of Rights and Freedoms that took force in 1982.
TORONTO/OTTAWA, Feb 10 (Reuters) – A landmark decision to
overturn a ban on physician-assisted suicide by Canada’s top
court shows it could take a tough stance on federal government
legislation, including security and citizenship bills, that
challenge the boundaries of the country’s rights-based
Academics and lawyers said that even though right-leaning
Prime Minister Stephen Harper has appointed 7 of its 9 justices
since he became prime minister in 2006, the Supreme Court is
proving to be a stern defender of the Canadian Charter of Rights
and Freedoms that took force in 1982.
OTTAWA, Feb 10 (Reuters) – The Canadian economy is still
operating below its potential and one sign of this is labor
market slack, a senior Bank of Canada official said on Tuesday,
calling the recent sharp drop in oil prices a “setback”.
In some of the first remarks by a Bank of Canada policymaker
since the central bank cut interest rates last month, Senior
Deputy Governor Carolyn Wilkins laid out the reasons for the
surprise move, reiterating that the bank thought it would take
too long to close the output gap if it did not act.
OTTAWA, Feb 5 (Reuters) – As the Group of 20 leading
economies head into ministerial talks in Turkey next week,
Canada highlighted the uncertainty of the global economy and
concerns over the ability of the United States to sustain global
A senior Canadian finance official, briefing reporters on
Thursday ahead of the meeting Monday and Tuesday of finance
ministers and central bank governors, cited lower growth
expectations for most parts of the world except the United
OTTAWA (Reuters) – Canadian police on Tuesday arrested an Ottawa man they said was planning to aid Islamic State fighters and charged him with participation in the activity of a terrorist group.
The Royal Canadian Mounted Police said the man, Awso Peshdary, 25, was also accused of facilitating the activity of a terrorist group. They stressed there had never been any immediate threat to the Canadian public.
OTTAWA (Reuters) – The Bank of Canada stunned markets by cutting interest rates on Wednesday, citing a threat to economic growth and its inflation targets from the dramatic drop in oil prices and said the bank stood ready to ease policy further if necessary.
Governor Stephen Poloz said the central bank’s surprise move to stimulate the economy provides “insurance” against risks for Canada, a major oil producer, stemming from the “oil price shock”. He said oil’s plunge could worsen household debt burdens by driving up unemployment and cutting incomes.