Randall's Feed
May 31, 2013

Canada GDP jumps to 2.5 pct growth in Q1 on exports

OTTAWA, May 31 (Reuters) – Rising exports helped rouse the
Canadian economy from a sluggish second half of 2012 to grow at
an annualized rate of 2.5 percent in the first quarter of this
year, the fastest pace in six quarters, Statistics Canada
reported on Friday.

The real growth rate was well above the Bank of Canada’s
forecast in April of 1.5 percent, topped the median projection
of 2.3 percent in a Reuters survey and outpaced U.S. growth of
2.4 percent for the quarter. Statscan also revised up
fourth-quarter growth to 0.9 percent from 0.6 percent.

May 29, 2013

Bank of Canada holds rate-hike bias in Carney’s final decision

OTTAWA, May 29 (Reuters) – The Bank of Canada said on
Wednesday that its next move would be an interest rate hike
rather than a cut, repeating its previous language and opting
not to rock the boat in the final policy decision under outgoing
Governor Mark Carney.

The central bank held the key policy rate at 1 percent, as
expected, extending a nearly three-year freeze on rates, the
longest since the 1950s.

May 20, 2013

Canada’s Harper under cloud after chief of staff resigns

OTTAWA (Reuters) – Canada’s Conservative Prime Minister Stephen Harper was under intense pressure on Monday to reassure voters that his administration is above reproach amid questions surrounding a secret check paid to Senator Mike Duffy.

“There’s been nothing under this prime minister’s watch that’s tied him so closely to such a massive ethical scandal. We need to see him show leadership,” opposition New Democratic Party Member of Parliament Charlie Angus told a news conference.

May 17, 2013

Canada April inflation well under forecast, Bank of Canada range

OTTAWA, May 17 (Reuters) – Cheaper gasoline and cars helped
Canada’s annual inflation rate fall dramatically in April to 0.4
percent from 1.0 percent in March – its lowest rate since 0.1
percent in October 2009, below expectations and well outside the
Bank of Canada’s target range of 1 to 3 percent.

The data released by Statistics Canada on Friday depressed
the Canadian dollar sharply and boosted bond prices, as the
market figured it made any interest rate by the Bank of Canada
even less likely than before.

May 14, 2013

Canada’s Liberals win Newfoundland seat in early test for Trudeau

OTTAWA (Reuters) – Canada’s Liberals regained a seat in the House of Commons on Monday in a race viewed as an early test of the popularity of the party’s new leader, Justin Trudeau, son of former Prime Minister Pierre Trudeau.

Liberal candidate Yvonne Jones had 50.8 percent of the vote and incumbent Conservative Peter Penashue only 29.1 percent, with 86 of the 91 polls reporting.

May 14, 2013

Trudeau’s Liberals headed for victory in special election

OTTAWA (Reuters) – Canada’s Liberals appeared to have regained a seat in the House of Commons on Monday in a race viewed as an early test of the popularity of the party’s new leader, Justin Trudeau, son of former Prime Minister Pierre Trudeau.

Newfoundland radio station VOCM called the election for the Liberals, and with 60 of the 91 polls reporting, Liberal Yvonne Jones had 50.7 percent of the vote to 29.6 percent for incumbent Conservative Peter Penashue, who had stepped down over campaign irregularities.

May 10, 2013

Canada recovers some of March’s big job loss in April

OTTAWA, May 10 (Reuters) – The Canadian economy in April
recovered 12,500 of the 54,500 jobs estimated to have been lost
in March, but the unemployment rate stayed at 7.2 percent,
Statistics Canada reported on Friday.

The figures were in line with the median forecast, in a
Reuters survey of economists, of 15,000 new jobs and a 7.2
percent jobless rate. The unemployment rate had risen to that
level in March from 7.0 percent in February.

May 8, 2013

One in five Canadians are born abroad, survey shows

OTTAWA (Reuters) – Canada is more than ever a nation of immigrants, with one in five Canadians born outside the country, according to a 2011 survey released by Statistics Canada on Wednesday.

That 20.6 percent proportion of people born abroad, up from 19.8 percent five years previously, is far bigger than in most other rich industrialized countries.

May 2, 2013

Surprise Bank of Canada chief stands ready to nurture economy

OTTAWA, May 2 (Reuters) – Canada tapped an outsider on
Thursday to head its central bank, bringing in the
well-respected head of the Canadian export credit agency, who
immediately stressed the need to nurture a choppy economic
recovery.

Incoming Bank of Canada Governor Stephen Poloz, 57, worked
at the central bank for 14 years earlier in his career. But he
has spent the last 14 years at Export Development Canada.

Apr 29, 2013

Canada tightens rules for temporary foreign workers

OTTAWA, April 29 (Reuters) – The Canadian government
announced tighter rules on Monday to prevent employers from
using its temporary foreign worker program to squeeze Canadians
out of jobs, acting after two high-profile cases tarnished the
program’s reputation.

The new rules will prevent employers from paying foreign
workers less than Canadians, and will ensure that employers who
rely on temporary foreign workers have a “firm plan” in place to
transition to a Canadian labor force.