Randall's Feed
Oct 10, 2014

Bank of Canada to abandon general rate guidance -Poloz

WASHINGTON, Oct 10 (Reuters) – The Bank of Canada intends
generally to abandon guidance on the direction of interest rates
because doing so will lead to less volatility in normal times
and less market parsing of the central bank’s statements,
Governor Stephen Poloz told Reuters.

Poloz was speaking in conjunction with the release on Friday
of a paper on integrating uncertainty into monetary
policymaking, the first he has written since taking over as head
of the Bank of Canada last year.

Oct 9, 2014

Canada’s Oliver ready to act but sees no housing bubble

WASHINGTON, Oct 9 (Reuters) – The Canadian government stands
ready to act to cool the housing market if necessary but does
not see a housing bubble or the need for any dramatic moves,
Finance Minister Joe Oliver said on Thursday.

“We’re watching it, obviously. We don’t believe we’re in a
bubble,” Oliver said, adding that neither did the Bank of Canada
nor Canada’s housing agency nor the Organization for Economic
Cooperation and Development.

Sep 23, 2014

CN rail fines over grain shipments to proceed -Ottawa

OTTAWA, Sept 23 (Reuters) – The Canadian government
dismissed on Tuesday complaints from Canadian National Railway
Co that fines for failing to ship the required minimum
amounts of grain were unfair because there was not enough

Agriculture Minister Gerry Ritz said there was a backlog of
grain waiting for CN to move, even though it is less than
expected, and the other main carrier, Canadian Pacific Railway
Ltd, was having no problem meeting its minimum.

Sep 23, 2014

Canadian July retail sales slip from record level

OTTAWA, Sept 23 (Reuters) – Canadian retail sales slipped
unexpectedly in July, falling 0.1 percent from June’s record
level after six straight monthly increases, as strong auto sales
failed to offset weakness elsewhere, data showed on Tuesday.

This was the last major data point before gross domestic
product figures for July are released next Tuesday. Figures from
Statistics Canada have already shown strong exports and
manufacturing sales for the month but a 0.3 percent fall in
wholesale trade.

Sep 22, 2014

Canada may spread oil-by-rail insurance burden, mulls special fund

OTTAWA, Sept 22 (Reuters) – The Canadian government is
looking at extending the insurance burden for crude-by-rail
disasters beyond just railways and is weighing the idea of
special fund similar to one once set up for maritime oil spills,
a government official said.

The potential policy move comes over a year after a runaway
oil train exploded last July in Lac-M├ęgantic, Quebec, leveling
the heart of the town and killing 47 people. The cleanup and
reconstruction bill, now being covered by governments, is
expected to be at least C$400 million ($360 million).

Sep 18, 2014

Two small Russian banks taken off Canada sanctions list

OTTAWA/LONDON, Sept 18 (Reuters) – Canada, one of the
harshest critics of Russia’s involvement in Ukraine, this week
quietly cancelled sanctions against Expobank and RosEnergoBank,
two small Russian banks on which it imposed the measures earlier
this year.

The cancellations were put into effect at the same time as
new sanctions were announced by Foreign Affairs Minister John
Baird on Tuesday, including adding Russia’s Sberbank
to the list, but his news release made no mention of lifting the
measures against Expobank and RosEnergoBank.

Sep 12, 2014

Canada ratifies China deal, may help smooth relations

OTTAWA (Reuters) – Canada has finally ratified a foreign investment protection agreement with China after a two-year delay in a step that may help ease tensions between the two countries and smooth the way for a possible visit to China by Prime Minister Stephen Harper.

International Trade Minister Ed Fast announced the ratification on Friday and said the agreement, designed to give investors greater legal certainty, would come into effect on Oct. 1. It was signed in September 2012.

Sep 12, 2014

Say ‘Non’: Quebec referendum offers lessons for pro-union UK leaders

OTTAWA (Reuters) – Canadian politicians who almost saw their country torn apart by an independence referendum in 1995 say pro-union British leaders have been slow to learn lessons from that campaign but can still take steps to win the vote Scotland will hold on Sept. 18.

In a campaign with striking similarities to the Scottish vote, the predominantly French-speaking province of Quebec came within a whisker of deciding to split up Canada in the 1995 referendum, which saw support for separatism spike in the final week.

Sep 12, 2014

Canada Q2 household debt ratio back up as expected

OTTAWA, Sept 12 (Reuters) – Canada’s closely watched ratio
of household debt to income rebounded to 163.6 percent in the
second quarter from 163.1 percent in the first, following a
pattern which typically sees a second-quarter rise, Statistics
Canada indicated on Friday.

The ratio, which is not seasonally adjusted, typically
declines in the first quarter as households pay off Christmas
purchases and hold off buying homes till the spring and summer;
it therefore usually goes up in the second quarter.

Sep 11, 2014

Canada businesses to get employment insurance rebate-official

OTTAWA, Sept 11 (Reuters) – Canadian Finance Minister Joe
Oliver on Thursday will announce a rebate for small businesses
on their employment insurance premiums in an effort to boost
hiring, a government official said.

Employment insurance premiums will be frozen until 2017, at
which time they will be cut for everybody, but small businesses
will get a “very significant rebate” on the premiums they pay,
effective Jan. 1, 2015, said the official, speaking on condition
of anonymity.