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Feb 25, 2014

Canada’s finance minister undecided on 2015 run amid health issues

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
issues.

“We’ll see. I haven’t decided,” Flaherty said in an
interview when asked to confirm his intentions.

Feb 23, 2014

G20 aspires to faster economic growth, roadmap sketchy

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.

Feb 23, 2014

G20 ready to aspire to faster global growth

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.

Feb 22, 2014

Bank of Canada head: higher growth goal should be seen as aspirational

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
Saturday.

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.

Feb 17, 2014

All G20 members have role in softening volatility-Canada official

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
effects.

Feb 11, 2014

Canada charts comfortable course to 2015 budget surplus

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.

Feb 11, 2014

Canadian government set to comfortably balance its budget by 2015

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.

Feb 11, 2014

Canadian gov’t targets cross-border pricing, wireless prices in budget

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.

Feb 11, 2014

Canada budget to favor restraint over stimulus

OTTAWA (Reuters) – Canada’s Conservative government will present a cautious budget on Tuesday, lacking any big new measures, as it lays the groundwork for a surplus in 2015 that will allow it to offer tax breaks and other goodies before an election late in that year.

Finance Minister Jim Flaherty is eager to eliminate the government’s relatively small budget deficit and restore the reputation Canada had before the financial crisis as having the strongest fiscal record in the Group of Seven major economies.

Feb 10, 2014

Analysis – Canadian exporters see fewer reasons to cheer currency drop

OTTAWA/TORONTO (Reuters) – Craig McIntosh’s company exports half of what its Canadian plastics factories produce, so he should be rejoicing in the Canadian dollar’s slide to a four-year-low. But he’s not.

The chief executive officer of Acrylon Plastics, which made the plastic parts in the children’s play set on the White House south lawn, says his business is suffering from President Barack Obama’s policy of encouraging American firms to open factories at home.

    • About Louise

      "I cover Canadian economic news, central banking and politics. I am based in Ottawa and have been in my current role since 2006. Before that, I wrote about Latin America from Buenos Aires and Santiago, Chile."
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