Randall's Feed
May 19, 2015

Bank of Canada’s Poloz: economy on track for partial Q2 rebound

CHARLOTTETOWN, Prince Edward Island, May 19 (Reuters) – The
Canadian economy remains on track for a partial rebound in the
second quarter as non-energy exports and other positive forces
continue to build, Bank of Canada Governor Stephen Poloz said on
Tuesday.

Against the backdrop of the central bank’s shock interest
rate cut in January and a weaker Canadian dollar, Poloz said the
economy would be marked by strong positive momentum in the
second half of the year and be on track to reach full capacity
by the end of 2016.

May 13, 2015

Canada seen as unlikely to tamper with inflation target during review

OTTAWA, May 13 (Reuters) – Canadian financial authorities
are unlikely to raise the country’s inflation target after a
review this year given the risk to the central bank’s
credibility and widespread support for the existing benchmark,
economists say.

The Bank of Canada, which reviews the target every five
years, flagged in November that it was researching whether to
raise the target above 2 percent, given the difficulties of
conducting monetary policy with interest rates near zero.

May 8, 2015

Philippines says important to uphold rights over South China Sea

OTTAWA (Reuters) – Philippine President Benigno Aquino, in remarks that follow Chinese warnings against Philippine flights over the South China Sea, said on Friday it was important to uphold the right to fly in that area.

“It is in our interest to uphold the freedom of navigation and overflight in South China Sea, a region that is of vital importance not only to Southeast Asia but also to the rest of the global community,” Aquino, who was visiting Canada, said during a joint news conference with Prime Minister Stephen Harper.

May 6, 2015

Record Canada trade deficit masks non-energy export strength

OTTAWA, May 6 (Reuters) – A record Canadian trade deficit in
March caused by plunging oil prices has masked an encouraging
trend – strength in non-energy exports that the central bank is
counting on to revive economic growth.

The report on Tuesday showing gains for sectors like auto
parts and forestry, combined with encouraging outlooks from some
company executives, suggest the Bank of Canada’s forecast of an
export-driven pickup in growth later this year is taking shape.

May 4, 2015

Canada’s Trudeau vows to make rich pay for middle class tax cut

GATINEAU, Quebec, May 4 (Reuters) – Canadian Liberal leader
Justin Trudeau pledged on Monday to cut taxes for most
middle-class families and raise taxes on the rich as he sought
to regain his polling lead over the governing Conservatives
ahead of October’s election.

Trudeau, son of former Prime Minister Pierre Trudeau, helped
lift the Liberals into first place in the polls when he took
over as leader in 2013, but the party has since slumped and has
trailed Prime Minister Stephen Harper’s Conservatives in some
recent polls.

May 4, 2015

Canada’s Trudeau vows to cut middle-class taxes, hike taxes on rich

GATINEAU, Quebec, May 4 (Reuters) – Canadian opposition
Liberal leader Justin Trudeau pledged on Monday to cut taxes for
most middle-class families and raise taxes on the rich, as he
sought to regain his polling lead over the ruling Conservatives
ahead of an October election.

Trudeau, son of former Prime Minister Pierre Trudeau, helped
lift the Liberals into first place when he took over as leader
in 2013, but the party has since slumped and has trailed Prime
Minister Stephen Harper’s Conservatives in some recent polls.

Apr 28, 2015

Bank of Canada’s Poloz shrugs off Carney comparison

OTTAWA, April 28 (Reuters) – Bank of Canada Governor Stephen
Poloz defended himself against criticism on Tuesday that his
surprise January rate cut unduly shocked markets and for failing
to use measured language like his predecessor, current Bank of
England chief Mark Carney.

Poloz also said the negative effects from the oil price
shock would last longer than three or four months, but would
begin to be “overwhelmed” after the first quarter by renewed
exports and other positives.

Apr 22, 2015

Populist Conservative budget puts Canada’s Liberals in election squeeze

OTTAWA, April 22 (Reuters) – Canadian Prime Minister Stephen
Harper, facing a battle to win reelection to a rare fourth term
in October, has boosted his chances with a populist budget
expected to energize his base.

The tax breaks in the budget the Conservative government
delivered on Tuesday, plus the cold hard cash it will give to
every family with children starting in July, put pressure on
Harper’s main opponent, Liberal leader Justin Trudeau, to spell
out an economic agenda with just as much vote-getting appeal.

Apr 21, 2015

With eye on election, Canada Conservatives balance budget with asset sales

OTTAWA, April 21 (Reuters) – Canada’s Conservative
government, seeking reelection this year, delivered a federal
budget on Tuesday that promised a slim surplus despite the oil
price crash, while offering goodies to seniors and small
businesses and boosting security spending.

It will mark Canada’s first surplus in eight years,
accomplished with the help of the sale of assets including
General Motors shares. The government also cut some of
the cushion set aside for economic shocks.

Apr 18, 2015

Bank of Canada decision pushed traders to catch up on C$: Poloz

WASHINGTON (Reuters) – The Bank of Canada’s decision to hold interest rates steady last month, coming on the heels of rising oil prices, appears to have pushed hesitant foreign exchange traders to bid up the Canadian dollar, central bank Governor Stephen Poloz said.

He was referring to the central bank’s April 15 rate decision, which came after a surprise rate cut in January and was coupled with a forecast that economic growth would rebound strongly this year from zero growth in the first quarter.