OTTAWA, Sept 20 (Reuters) – Canada’s annual inflation rate
edged down in August to 1.1 percent from 1.3 percent in July, as
expected, ensuring there is no pressure on the Bank of Canada to
raise interest rates any time soon.
Higher shelter costs, particularly rent and natural gas,
were the main driver of inflation in the 12-month period,
Statistics Canada said on Friday.
OTTAWA (Reuters) – Canada’s federal government and two of its provinces will set up a common securities regulator as a first step toward their ultimate goal of replacing the current patchwork of provincial agencies with a more efficient national markets watchdog.
Federal Finance Minister Jim Flaherty and his counterparts from Ontario and British Columbia unveiled details of the plan on Thursday. Together, Ontario and British Columbia are home to about two-thirds of the country’s capital markets.
OTTAWA, Sept 19 (Reuters) – Canada’s federal government and
two of its provinces will set up a common securities regulator
to try to replace the current patchwork of provincial
regulation, but most provinces, notably the French-speaking
province of Quebec, have not signed on.
Federal Finance Minister Jim Flaherty and his counterparts
from Ontario, home to the country’s predominant capital market,
and British Columbia unveiled details of their plan on Thursday.
OTTAWA, Sept 9 (Reuters) – Canadian Finance Minister Jim
Flaherty canceled plans on Monday to increase a payroll tax in
a break for small businesses hurting from lingering economic
uncertainty, but the move is not expected to provide a big lift
to growth or jobs.
The employment insurance (EI) premium paid by both employers
and workers will be frozen at 2013 levels for 2014 and will not
be allowed to surpass that rate in 2015 and 2016, Flaherty said,
instead of rising every year as outlined in the government’s
WINNIPEG, Manitoba/OTTAWA, Sept 6 (Reuters) – Statistics
Canada may scrap one of its annual farmer surveys on crop yields
in favor of a report that uses satellite data to estimate
Statscan, the national statistical agency, said the
satellite data was producing increasingly similar results to its
September farmer survey on yields of wheat, canola and other
crops, and the change would help meet cost-cutting goals.
OTTAWA, Sept 6 (Reuters) – Canada’s economy churned out a
surprising 59,200 jobs in August, according to Statistics
Canada estimates released on Friday, with most of the gains in
part-time work and led by the health care and social assistance
The unemployment rate edged down to 7.1 percent from 7.2
percent, the federal agency said.
OTTAWA, Sept 4 (Reuters) – The Bank of Canada held its key
interest rate steady on Wednesday but signaled it has concerns
about global economic uncertainty and the health of the
country’s export sector, suggesting it is in no rush to follow
the U.S. Federal Reserve in altering monetary policy.
In a statement accompanying its widely expected rate
decision, the central bank repeated its vague tightening bias,
pointing to higher rates somewhere on the horizon. But it also
highlighted the slack in Canada’s economy and muted inflation,
and cited signs of improvement in household debt and in the
housing market, all of which suggested such a move is some way
OTTAWA, Aug 30 (Reuters) – Canada’s economy shifted into
lower gear in the second quarter and contracted in June for the
first time in six months, hurt by a Quebec construction strike
and flooding in Alberta.
Gross domestic product grew by 1.7 percent on an annualized
basis in the quarter, Statistics Canada said on Friday, slowing
from 2.2 percent growth in the first quarter. Statscan revised
down the first-quarter number from 2.5 percent initially.
(Reuters) – The Bank of Canada will likely keep interest rates at their current low level until the fourth quarter of 2014, according to economists in a Reuters poll, even though there are strong signs the U.S. Federal Reserve could soon start scaling back its stimulus measures.
As the Fed signals it will start reducing its $85 billion-a-month bond purchases in coming months and the U.S. and global economies show signs of firming, many analysts expect the Canadian dollar to weaken and foster a long-overdue export recovery.
KINGSTON, Ontario, Aug 27 (Reuters) – The eventual removal
by the U.S. Federal Reserve of its monetary policy stimulus
should be viewed positively, Bank of Canada Deputy Governor John
Murray said on Tuesday in a rebuttal to critics who expect Fed
tapering to reverberate negatively around the world.
Whenever the Fed begins winding down its unconventional
monetary policy, Murray said, it will take place in the context
of a strengthening U.S. economy, and the benefits for the
Canadian economy will outweigh any risks.