OTTAWA, March 7 (Reuters) – The Canadian economy
unexpectedly lost 7,000 jobs in February, giving little reason
for the Bank of Canada to change its neutral stance on interest
rates after strong hiring in January had raised hopes of renewed
vigor in the labor market.
Statistics Canada’s employment report, released on Friday,
was mixed, showing 18,900 full-time jobs were created in the
month while 25,900 part-time positions disappeared. The private
sector hired 35,200 new workers while the public sector shed
50,700. The services sector was hardest hit.
OTTAWA, March 5 (Reuters) – The Bank of Canada continued to
express concerns about weak inflation on Wednesday, even after
consumer prices picked up markedly in January, and it repeated
that its next move on interest rates could be either up or down.
The central bank left its benchmark interest rate unchanged
at 1.0 percent, as expected, extending a freeze that has lasted
more than three years. Analysts do not expect the bank to move
on rates until the third quarter of next year.
MELBOURNE, Feb 25 (Reuters) – Canada’s Finance Minister Jim
Flaherty has not yet decided whether to run for office again in
the 2015 general election, he told Reuters on Tuesday, amid
speculation he may step down before then to attend to health
“We’ll see. I haven’t decided,” Flaherty said in an
interview when asked to confirm his intentions.
SYDNEY, Feb 23 (Reuters) – The world’s top economies have
embraced a goal of generating more than $2 trillion in
additional output over five years while creating tens of million
of new jobs, signalling optimism that the worst of crisis-era
austerity was behind them.
The final communique from the two-day meeting of Group 20
finance ministers and central bankers in Sydney said they would
take concrete action to increase investment and employment,
among other reforms. The group accounts for around 85 percent of
the global economy.
SYDNEY (Reuters) – The world’s top economies are on the verge of adopting a soft target of adding an extra 2 percentage points to global growth over five years at a meeting in Sydney, signaling optimism that the worst of crisis-era austerity was behind them.
The deal will come as the Group 20 finance ministers and central bankers struggle with the impact of the Federal Reserve’s tapering of its monetary stimulus on emerging markets and giving developing nations a greater say in the International Monetary Fund.
SYDNEY, Feb 22 (Reuters) – Setting a higher goal for global
growth is a good idea to try to build momentum in the world
economy, but it should be seen as aspirational rather than a
hard target, Bank of Canada Governor Stephen Poloz said on
Poloz, in Sydney for a meeting Group of 20 finance ministers
and central bank chiefs, also said he hoped the worst of the
volatility that has hammered some major emerging markets this
year had passed.
OTTAWA, Feb 17 (Reuters) – Advanced economies must explain
their monetary policy approach clearly to the rest of the world
and some emerging economies need to strengthen policies in order
to soften the financial market volatility during this
unprecedented period of transition, a senior Canadian finance
official said on Monday.
Briefing reporters about a Feb. 22-23 meeting of finance
ministers and central bank chiefs from the Group of 20 advanced
and emerging economies in Sydney, Australia, the official, who
declined to be named, said the G20 needed to take a step back
and take a broader view than just the U.S. Federal Reserve’s
tapering of its bond-purchasing program and the spillover
OTTAWA, Feb 11 (Reuters) – Canada’s Conservative government
looks set to comfortably balance its books in 2015 or even
sooner, its latest budget showed on Tuesday, with cuts in
spending on the public service more than offsetting a series of
modest new expenditures.
The low-key spending plan leaves Prime Minister Stephen
Harper well-positioned to offer tax breaks and other initiatives
in the runup to an election scheduled for October next year.
OTTAWA (Reuters) – Canada’s Conservative government looks set to comfortably balance its budget in 2015 or even sooner, its latest budget showed on Tuesday, as public sector cutbacks more than offset a series of modest new spending measures.
The uneventful spending plan leaves Prime Minister Stephen Harper well-positioned to offer tax breaks and other initiatives in the run-up to an election scheduled for October next year.
OTTAWA (Reuters) – Canada’s Conservative government sprinkled the federal budget on Tuesday with measures aimed at lowering prices, part of a pro-consumer agenda it has touted as it prepares for a 2015 election.
These include a new law targeting the high prices Canadians pay relative to Americans for the same goods and services, a surprisingly interventionist stance for a government that has declared its faith in free markets.