OTTAWA (Reuters) – A Canadian legislator at the heart of a spending scandal on Monday accused Prime Minister Stephen Harper of being involved in a cover-up deal, deepening a crisis that has engulfed the Conservative government.
Senator Mike Duffy made his allegations just days before a Calgary convention of the ruling Conservatives, who have lost support in the polls since the scandal broke in May and are now trailing the opposition Liberals.
OTTAWA (Reuters) – The Bank of Canada has abandoned 18 months of warnings that interest rates will one day have to rise, saying on Wednesday that a soft economy and persistently weak inflation mean there is as much chance of a rate cut as a rate hike.
The surprise policy shift, which knocked the Canadian dollar to a one-week low and sent bond prices higher, came in a statement in which the central bank kept its key rate at 1.0 percent and dropped any hint of an eventual rate increase.
OTTAWA, Oct 23 (Reuters) – The Bank of Canada abandoned on
Wednesday an 18-month stretch of rate-hike talk in a dramatic
policy shift that highlighted lower-than-expected growth and the
risk of persistently weak inflation.
In a statement following its latest monetary policy meeting,
the central bank held its key interest rate at 1.0 percent, the
level it has been at for over three years.
OTTAWA, Oct 22 (Reuters) – Canada’s final budget figures for
the fiscal year that ended in March show a deficit of C$18.9
billion ($18.3 billion), slightly higher than a government
estimate released in May, but much lower than the forecast it
released in its March budget.
In a preliminary report on May 31, the Finance Department’s
Fiscal Monitor estimated a shortfall of C$18.3 billion for the
2012-13 year, while the government’s annual
budget released on March 21 had projected the deficit would be
OTTAWA, Oct 22 (Reuters) – Canadian retail sales rose
modestly in August, their second consecutive monthly rise,
according to Statistics Canada data on Tuesday that pointed to
similarly modest economic growth for the month.
The 0.2 percent rise in retail sales just missed the 0.3
percent consensus in a Reuters survey of analysts, after a
downwardly revised 0.5 percent rise in July. Excluding motor
vehicle and parts dealers, sales rose 0.4 percent, beating
street expectations of a 0.2 percent gain.
OTTAWA, Oct 18 (Reuters) – Ontario doctors have no right to
unilaterally withdraw life support from a patient if the family
objects, the Supreme Court of Canada ruled on Friday in a case
that centered on a Toronto man who has been in a coma since
The wife of Hassan Rasouli, a Shi’ite Muslim, had objected
on religious grounds to the doctors’ decision that her husband’s
life support should be withdrawn as it was of no medical
benefit, arguing that if death can be prevented, it should be.
OTTAWA/TORONTO, Oct 18 (Reuters) –
Canada’s annual inflation rate held steady last month, while
underlying price pressures were also unchanged, suggesting the
Bank of Canada has plenty of room to maintain its low interest
Annual inflation was 1.1 percent in September, the same as
the month before, Statistics Canada said on Friday, slightly
higher than economists’ expectations for 1.0 percent.
OTTAWA (Reuters) – Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) is still very much engaged with South Korea over the possible sale of F-15 fighter jets, despite Seoul’s move last month to restart a multibillion-dollar tender process, a senior Boeing executive told Reuters on Thursday.
The company also said the partial U.S. government shutdown would have had more significant ramifications if it had lasted longer, but saw no long-term effect from the 16-day hiatus in operations that ended overnight.
OTTAWA (Reuters) – Canada’s Conservative government on Wednesday promised to introduce legislation that will require balanced budgets except during economic crises, and renewed a pledge to balance its books by 2015.
It also said it would soon wrap up free trade talks with the European Union, and announced that Prime Minister Stephen Harper would travel to Brussels on Thursday “with the goal of concluding the … negotiations.”
OTTAWA, Oct 15 (Reuters) – Canada’s Conservative government
on Wednesday highlighted a populist, pro-consumer approach ahead
of a 2015 election, but says it will continue to push for more
jobs and economic growth.
Addressing members of his Conservative caucus ahead of a
policy speech that will outline government priorities for the
second half of its 4-1/2-year mandate, Prime Minister Stephen
Harper said the government planned moves on “choice, fair
treatment, competitive prices.”