BURLINGTON, Ontario (Reuters) – The Bank of Canada cannot rely on its usual models to assess the economy because of unexpectedly high levels of uncertainty, with the biggest risks coming from abroad, the new central bank chief, Stephen Poloz, said on Wednesday.
Answering audience questions after his inaugural speech, Poloz said the central bank was in “uncharted territory” and called for direct feedback from those doing business on the ground in order to better understand what is happening.
BURLINGTON, Ontario, June 19 (Reuters) – The Bank of Canada
is relying on a rebound in businesses confidence to drive the
economy’s return to health, the central bank’s new chief,
Stephen Poloz, said on Wednesday in a speech that revealed no
clear leanings on monetary policy.
In his first speech after taking over as governor on June 3,
Poloz said there were signs that business confidence is
improving as export demand builds and he said what Canada needs
now is “stability and patience”.
SAN FRANCISCO (Reuters) – The fight over legalizing gay marriage in the most populous U.S. state may go back to the ballot box in 2014 with California voters asked once again to settle the matter even after the Supreme Court’s expected ruling this month on the issue.
Experts believe the top court is unlikely to proclaim a national right to same-sex marriage in its decisions. The court is set to rule on a challenge to California’s ban on same-sex marriage and on a provision of federal law denying certain benefits for married same-sex couples.
TORONTO, June 11 (Reuters) – Canadian railways should bring
in automatic braking systems and video recording devices to help
prevent accidents like a fatal 2012 passenger train derailment,
the country’s transportation watchdog said on Tuesday.
The Transportation Safety Board of Canada’s proposals would
apply to both passenger and freight travel, bringing railways in
line with air travel, where flight recorders and automatic pilot
systems have long been required.
TORONTO, June 11 (Reuters) – Canadian employers are less
inclined to add jobs than they were just three months ago,
according a survey released on Tuesday that cast doubt on
whether a hiring boom seen in May will be sustained.
A net 9 percent of Canadian employers expect to add jobs in
the third quarter, with the biggest gains seen in the
transportation and public utilities sector, the study from
staffing company Manpower Inc showed.
TORONTO, June 10 (Reuters) – Canada’s main stock index
advanced slightly on Monday as an upgrade of the U.S. credit
outlook and strong domestic housing starts helped lift shares of
financial companies, while energy shares rebounded from recent
Standard & Poor’s upgraded its credit outlook for the United
States government to “stable” from “negative”, reducing the
threat of a further downgrade to the country’s sovereign debt