OTTAWA, (Reuters) – The Bank of Canada kept its main interest rate on hold at 1 percent on Wednesday, as expected, and said the risks of low inflation loom as large as ever, though prices have been rising faster than it had anticipated.
The central bank also flagged weaker-than-expected global growth and the possibility of slightly less underlying momentum in the United States and noted that the Canadian economy grew only modestly in the first quarter.
OTTAWA, May 30 (Reuters) – Canada will refrain from funding
abortions abroad as it promotes maternal and children’s health
in poor countries because the issue is too divisive and could
undermine a broader push to save lives, Prime Minister Stephen
Harper said on Friday.
The Conservative leader has resolutely resisted any attempt
to restrict abortions in Canada, where the procedure is legal,
but he has acquiesced to demands from within his caucus not to
promote abortion in other countries.
OTTAWA, May 29 (Reuters) – Canada signaled on Thursday it is
likely to make a decision in the next few weeks on whether to
replace its aging CF-18 fighter jets with F-35 stealth fighters
from Lockheed Martin Corp or hold an open competition
among aircraft makers.
Public Works Minister Diane Finley said on Thursday the
Conservative government will finish its review of reports on how
to replace its jet fighters in the coming weeks. Her spokesman,
Marcel Poulin, said both a government decision on how to proceed
and the release of the review are likely to come in that period.
OTTAWA, May 23 (Reuters) – - Canada’s annual inflation rate
rose to the central bank’s 2 percent target in April for the
first time in two years, Statistics Canada said on Friday,
further dampening talk of a cut in interest rates.
The jump from 1.5 percent in March was exactly as expected
in a Reuters survey of analysts, as was the 0.3 percent monthly
rise in prices from March.
OTTAWA, May 16 (Reuters) – Possible changes to make it
harder to bring temporary foreign workers into Canada may force
some restaurants to curb their hours or even shut down, and
could hamper important exports if not properly structured,
employers groups warned on Friday.
Employment Minister Jason Kenney and Immigration Minister
Chris Alexander on Thursday bandied about with employers and
unions several ideas for reforming the temporary foreign worker
program, which has recently come under enormous criticism.
OTTAWA, April 23 (Reuters) – Canada will require that the
use of older rail cars for carrying crude oil be phased out
within three years, even though the United States has yet to
make such a rule change, according to documents seen by Reuters
The unilateral move is a response to recommendations that
followed an investigation into a fiery rail-car derailment in
Lac-Megantic, Quebec, last July that killed 47 people.
OTTAWA, April 17 (Reuters) – The Canadian government will
take several more weeks to evaluate its options for the
much-delayed replacement of the country’s CF-18 fighter jets,
Public Works Minister Diane Finley said on Thursday.
The decision boils down to whether to proceed with a
single-source contract to Lockheed Martin Corp for 65
F-35 stealth fighters or to go with a tender that opens up the
bidding to competitors.
OTTAWA, April 17 (Reuters) – Costlier energy helped boost
Canada’s annual inflation by more than expected in March to 1.5
percent from 1.1 percent in February but the less volatile core
measure that guides the Bank of Canada edged up to only 1.3
percent from 1.2 percent.
Statistics Canada said on Thursday the month-on-month rate
was 0.6 percent for overall inflation and 0.3 percent for core.
The median forecasts in a Reuters survey were 1.4 percent
annually and 0.4 percent monthly for headline inflation and 1.3
percent and 0.3 percent respectively for core.
OTTAWA (Reuters) – Former Finance Minister Jim Flaherty, who steered Canada through the global financial crisis and then nearly eliminated the huge budget deficits he had run up in the process, died on Thursday just weeks after resigning.
His family said he passed away peacefully in Ottawa, but did not give a cause of death. An unnamed source close to the family told CBC television that Flaherty, had suffered a massive heart attack. He was 64.
OTTAWA (Reuters) – Former Canadian Finance Minister Jim Flaherty, 64, died on Thursday, just weeks after stepping down following eight years in his post.
His family said in a statement that he died peacefully in Ottawa, but did not mention the cause of his death. An unnamed source close to the family told CBC television the cause was a massive heart attack.