OTTAWA, Jan 21 (Reuters) – A revived auto sector boosted
Canada’s manufacturing sales in November and helped prevent a
slide in wholesale trade, a trend that may continue into 2014 as
a weaker Canadian currency and strengthening U.S. economy spur
Factory sales jumped 1.0 percent to C$50.5 billion ($45.9
billion) in the month, the highest level in nearly two years and
approaching levels typically seen before the 2008-09 recession,
Statistics Canada data showed on Tuesday.
OTTAWA, Jan 13 (Reuters) – Canadian businesses were hopeful
in the fourth quarter of 2013 that sales would increase over the
next year and were more upbeat on investment and hiring than in
the previous quarter, according to a Bank of Canada survey
released on Monday.
But the positive outlook was not shared evenly among the
senior managers participating in the bank’s quarterly survey.
Details of the responses showed that companies benefiting from
an improving global economy appeared more encouraged than those
relying solely on the domestic market.
OTTAWA, Jan 10 (Reuters) – Canada will auction off another
set of airwaves for wireless use in April 2015, structuring the
rules in a way designed to boost competition and lower consumer
prices, Industry Minister James Moore said on Friday.
The announcement on details of the 2,500 megahertz auction
comes as the Conservative government prepares to open the
bidding process for the 700 MHz spectrum on Tuesday.
OTTAWA, Jan 10 (Reuters) – Canada’s economy lost 45,900 jobs
in December and the unemployment rate rose to 7.2 percent from
6.9 percent in a surprising setback that may add pressure on the
central bank to consider cutting interest rates.
The employment data released by Statistics Canada on Friday
was the weakest since March 2013. The report also showed hiring
in 2013 was the slowest since 2009, with year-on-year employment
gains in December of just 0.6 percent, or 102,000.
OTTAWA, Jan 7 (Reuters) – The Bank of Canada should keep its
key interest rate on hold until the data persuades it otherwise,
central bank chief Stephen Poloz said on Tuesday, adding that he
was not worried about calls from some international players to
His comments follow controversial remarks by Canada’s
finance minister on Sunday suggesting there would be pressure to
raise interest rates in 2014.
OTTAWA, Jan 3 (Reuters) – Canada has reached an agreement
with United Technologies Corp’s Sikorsky Aircraft unit
to reactivate a C$5 billion ($4.7 billion) deal to buy 28
helicopters that had been beset by delays and was almost
scrapped by Ottawa.
Canada signed a contract in 2004 for Sikorsky’s Cyclone
helicopters to replace its ageing fleet of Sea Kings. But after
delays and complications, Ottawa announced last September that
it might scrap the deal and consider other options.
OTTAWA, Dec 20 (Reuters) – Canada’s annual inflation rate
crept higher in November to 0.9 percent from 0.7 percent in
October but remained below the central bank’s target range,
ensuring that chronically weak inflation will remain on
policymakers’ radar as a top concern.
Retail sales in October came in weaker than expected,
according to Statistics Canada data released on Friday.
(Reuters) – Market volatility spurred by the U.S. Federal Reserve’s plans to scale back its massive stimulus program is far less of a concern now than it was earlier this year, Bank of Canada Governor Stephen Poloz told Reuters on Tuesday.
Investors understand the Fed’s thinking much better than they did when Chairman Ben Bernanke first mentioned the possibility of tapering the U.S. central bank’s $85 billion in monthly asset purchases on May 22, Poloz said.
MEECH LAKE, Quebec, Dec 16 (Reuters) – Canada’s federal
government and the governments of its 10 provinces failed to
agree on Monday on a deal to enhance the country’s public
Some provinces, worried by studies showing Canadians are not
saving enough for retirement, want to boost Canada Pension Plan
(CPP) payouts by obliging workers and employers to make higher
MONTREAL, Dec 12 (Reuters) – The Bank of Canada is more
worried about the downside risks to inflation than the upside
ones, Bank of Canada Governor Stephen Poloz said on Thursday,
but gave no indication what the next move on interest rates
The central bank has held its key overnight rate at a
near-record low of 1 percent since September 2010. It was a
touch more dovish in its Dec. 4 statement, which kept interest
rates on hold, saying the downside risk to inflation appeared to
be greater than before.