KINGSTON, Ontario, Jan 10 (Reuters) – Canada’s economy will
likely be more sluggish than expected in the near term and the
Bank of Canada will take that into account in its revised
economic forecasts later this month, the Bank of Canada’s senior
deputy governor, Tiff Macklem, said on Thursday.
“We continue to expect economic activity to pick up through
2013, but near-term momentum now appears to be slightly softer
than previously anticipated,” Macklem said.
OTTAWA, Jan 7 (Reuters) – The Bank of Canada is looking for
a new boss with “the courage to take a stand” as it seeks to
replace Governor Mark Carney, who is leaving to head the Bank of
But an advertisement for the position, published on Monday,
made clear that Canada is not about to follow Britain in
appointing a foreign citizen to head its central bank.
OTTAWA, Jan 4 (Reuters) – Canada’s prime minister will meet
with native leaders next week to discuss social and economic
issues, an olive branch to an angry aboriginal movement that has
blockaded rail lines and threatened to close Canada’s borders
with the United States.
Stephen Harper made no mention of the aboriginal protests in
a statement announcing the Jan. 11 meeting.
OTTAWA, Dec 18 (Reuters) – WestJet Airlines Ltd is
concerned about special treatment for its main competitor, Air
Canada, which is seeking leniency over a gaping pension
fund deficit, and records show that WestJet launched a concerted
lobbying campaign with the federal government over pensions.
Executives from WestJet, the country’s second-largest
airline, held a series of meetings on pension issues on Nov.
20-21 with four members of cabinet, including Finance Minister
Jim Flaherty, who is in charge of the Air Canada pension file.
WestJet executives also met with numerous senior officials as
well as lawmakers from the governing Conservative Party.
OTTAWA, Dec 17 (Reuters) – Bank of Canada Governor Mark
Carney did not breach conflict of interest policy by vacationing
at the home of a Liberal Party lawmaker, his chief spokesman
said on Monday, following a report that the visit occurred while
the opposition party was seeking to recruit him.
Carney, who will become the Bank of England governor in
July, finds himself at the center of controversy after the Globe
and Mail newspaper reported new details on Saturday about the
Liberals’ efforts earlier this year to woo him into running for
leadership of the third-place political party.
OTTAWA, Dec 17 (Reuters) – The Bank of Canada’s general
counsel has determined that Governor Mark Carney did not engage
in a conflict of interest when he and his family stayed at the
home of Liberal legislator and finance critic Scott Brison,
Carney spokesman Jeremy Harrison said on Monday.
Harrison confirmed that Carney and his family stayed at a
home owned by Brison in Nova Scotia during part of their summer
vacation this year, news that was revealed in a Globe and Mail
story on Saturday on Liberal attempts to get Carney to run for
leader of the party. Harrison said Carney and Brison have been
personal friends for about a decade.
OTTAWA, Dec 14 (Reuters) – Canada’s Supreme Court on Friday
upheld an anti-terrorism law enacted after the Sept. 11, 2001,
attacks on the United States, ruling unanimously that those who
choose to engage in terrorism must “pay a very heavy price.”
The law’s constitutionality was challenged by Mohammad Momin
Khawaja, convicted in Canada of terrorism for involvement with a
British group that had plotted unsuccessfully to set off bombs
OTTAWA, Dec 13 (Reuters) – Canada’s broadcast regulator does
not have the authority to impose a value-for-signal plan under
which television broadcasters would charge cable and satellite
firms for their programming, the Supreme Court of Canada ruled
The industry regulator, the Canadian Radio-television and
Telecommunications Commission, had in 2010 accepted the
broadcasters’ arguments that local stations needed new money to
stay viable. Before imposing a fee system on cable companies, it
asked the courts to verify that it had the right to do so and
the Supreme Court ruled on Thursday that it did not.
OTTAWA, Dec 5 (Reuters) – Canada will announce eagerly
awaited guidelines to clarify its rules for approving foreign
investments “fairly soon,” Finance Minister Jim Flaherty said on
Wednesday, as suspense builds around the government’s reviews of
two bids for Canadian energy producers.
The Conservative government has promised for two months that
it would issue the guidelines soon and that it planned to do so
at about the same time as it announces its decisions on takeover
proposals by Chinese and Malaysian bidders.
OTTAWA, Dec 4 (Reuters) – The Bank of Canada held interest
rates steady on Tuesday and said it would likely need to hike
rates “over time”, repeating the formula it used in October
despite weaker-than-expected growth, soft inflation and worries
about the U.S. fiscal cliff.
“Over time, some modest withdrawal of monetary policy
stimulus will likely be required, consistent with achieving the
2 percent inflation target,” the bank said in a statement, using
language identical to its Oct. 23 rate announcement.