OTTAWA, March 6 (Reuters) – The Bank of Canada softened its
stance on the need for interest rate hikes on Wednesday, saying
it will likely hold its benchmark rate steady for “a period of
time” but that its next move would still probably be a hike
rather than a cut.
The central bank held its overnight lending target unchanged
at 1.0 percent, where it has been since September 2010. It had
been signaling for several months that it intends to raise the
rate, but in January said such a move was “less imminent” and on
Wednesday took another step back.
Canadian Cardinal Marc Ouellet, one of the leading candidates to succeed Pope Benedict, suggested in an interview with Canada’s national broadcaster that other candidates for pope might do a better job.
OTTAWA, March 1 (Reuters) – Slow Canadian economic growth
means the government will have lower revenues than initially
forecast in drawing up the next budget and some ministries may
need to cut spending further, Finance Minister Jim Flaherty said
He said he continues to plan to eliminate the federal
government’s relatively small deficit by 2015 in spite of the
OTTAWA (Reuters) – Canada expects to be able to make enough medical isotopes through non-nuclear methods by 2016 to replace those now produced by an aging reactor and better assure an uninterrupted supply for medical imaging, a government minister said on Thursday.
To that end, the federal government will fund three research institutes developing cyclotron and linear accelerator technologies for production of isotopes on a commercial scale, Natural Resources Minister Joe Oliver said.
OTTAWA, Feb 28 (Reuters) – Canadian Natural Resources
Minister Joe Oliver said on Thursday he does not expect the
United States to reject TransCanada Corp’s proposed
Keystone XL pipeline from the Alberta oil sands to Texas.
U.S. officials say they expect the government to make a
final decision on the northern leg of the $5.3 billion pipeline
by the middle of the year.
OTTAWA, Feb 27 (Reuters) – Canadian businesses hardly expect
to boost their capital spending at all this year, despite hopes
by the Bank of Canada for a good contribution to growth from
Statistics Canada said on Wednesday its survey showed the
private sector anticipated investment in construction and
machinery and equipment would rise 0.8 percent, the worst rate
since a 16.4 percent decline in 2009. In 2012 such spending rose
OTTAWA (Reuters) – Beijing’s attempts to stop Tibetans setting themselves on fire to protest against Chinese rule are counter-productive and are only provoking more self-immolations, the Tibetan prime minister in exile told Reuters on Tuesday.
Lobsang Sangay, who replaced the Dalai Lama as the political leader of exiled Tibetans in 2011, said Beijing first branded self-immolators as thieves and then as homeless. Later they blamed his government in exile.
OTTAWA, Feb 22 (Reuters) – Canada’s federal budget gap
widened slightly in December from a year earlier, but the
deficit for the first nine months of the fiscal year was still
down 19 percent, the finance department said on Friday.
The monthly Fiscal Monitor said the government spent C$572
million ($561 million) more in December than it took in. The gap
in December 2011 was C$538 million .
OTTAWA, Feb 22 (Reuters) – The Canadian economy registered
its lowest inflation in more than three years in January and its
largest decline in retail sales in almost three years in
December, a double whammy of data that depressed the Canadian
dollar and bond yields.
“All of this would feed into a dovish Bank of Canada and
Canadian dollar weakness,” said Camilla Sutton, chief currency
strategist at Scotiabank.
OTTAWA, Feb 21 (Reuters) – Larry Schembri, a Bank of Canada
economist with international expertise, will become one of the
central bank’s deputy governors on its rate-setting council
starting next week, the bank said on Thursday.
Schembri, 55, is an academic who currently coordinates the
bank’s contributions to the Financial Stability Board of the
Group of 20 leading economies. He will replace Jean Boivin, who
moved to the finance ministry. Schembri’s appointment is
effective next Monday.