Randall's Feed
Mar 11, 2015

Canada minister: oil train rule timing may differ from U.S.

OTTAWA, March 11 (Reuters) – While the United States and
Canada are near agreement on a tougher standard for oil-by-rail
tanker cars, they may diverge on the phase-in period, Transport
Minister Lisa Raitt told Reuters on Wednesday.

She said they were close “on a tank car standard agreement,
but not necessarily on the time frame. … Time is of the
essence for us.”

Mar 10, 2015

Canada lawmakers hear Hong Kong democracy activist over China’s objections

OTTAWA (Reuters) – Veteran Hong Kong democracy campaigner Martin Lee, testifying on Tuesday at a Canadian parliamentary committee over the objections of the Chinese government, appealed to Ottawa to stand with those struggling for democracy in Hong Kong.

“I hope the Canadian government and the Canadian Parliament will speak up for us at this difficult stage,” Lee told the House of Commons foreign affairs committee.

Mar 10, 2015

Canada lawmakers hear HK democracy activist over China’s objections

OTTAWA (Reuters) – Veteran Hong Kong democracy campaigner Martin Lee, testifying on Tuesday at a Canadian parliamentary committee over the objections of the Chinese government, appealed to Ottawa to stand with those struggling for democracy in Hong Kong.

“I hope the Canadian government and the Canadian Parliament will speak up for us at this difficult stage,” Lee told the House of Commons foreign affairs committee.

Mar 6, 2015

Bank of Canada watchers lament lack of anchors in Poloz era

OTTAWA, March 6 (Reuters) – Bank of Canada Governor Stephen
Poloz has made life more challenging for financial market
forecasters, with an approach some say lacks enough guideposts
to allow them to properly model the path of future interest rate
moves.

In addition to ditching the forward guidance pioneered in
Canada by predecessor Mark Carney, now governor of the Bank of
England, Poloz has left some economists and strategists feeling
less confident about what economic indicators they should work
from and how much they will influence policy.

Mar 4, 2015

Bank of Canada, happy with impact of Jan cut, holds rates steady

OTTAWA, March 4 (Reuters) – The Bank of Canada held interest
rates steady on Wednesday, in line with signals it sent out over
the past two weeks, and voiced satisfaction with how the market
and the economy have reacted to its surprise rate cut in
January.

“The risks around the inflation profile are now more
balanced and financial stability risks are evolving as expected
in January,” the central bank said as it announced its benchmark
overnight interest rate would stay at 0.75 percent.

Feb 27, 2015

Traders say lack of Bank of Canada guidance fuels volatility

OTTAWA, Feb 27 (Reuters) – When Bank of Canada Governor
Stephen Poloz abandoned a policy of offering forward guidance on
interest rates last year, he said telling traders explicitly
what’s going to happen can boost volatility as it spurs a rush
for the exits when things change.

But traders say that so far the policy shift has in fact
increased volatility with the central bank blindsiding markets
with its surprise rate cut in January, and then catching them
off guard again this week with comments by Poloz suggesting it
will hold rates steady next month.

Feb 20, 2015

Canada to require more oil/rail insurance, special fund

OTTAWA, Feb 20 (Reuters) – Canada will boost the minimum
insurance railways will have to carry when they haul crude oil
and an additional fund will be set up with levies on oil
shipments to cover major disasters, under legislation to be
introduced on Friday, two sources familiar with the bill said.

The legislation is in reaction to a spate of oil-by-rail
accidents, the most prominent being the 2013 explosion of a
runaway train in the Quebec village of Lac-Megantic that leveled
the heart of the town and killed 47 people.

Feb 19, 2015

Bank of Canada’s Cote: next rate decision not predetermined

MONT-TREMBLANT, Quebec, Feb 19 (Reuters) – A Bank of Canada
official said on Thursday there was nothing predetermined about
next month’s interest rate decision, even as traders priced in
high odds the central bank will ease for the second time this
year.

The central bank last month shocked markets by unexpectedly
cutting its main policy rate to 0.75 percent from 1 percent,
citing a threat to growth from the oil price plunge.

Feb 19, 2015

Bank of Canada says rate call to hinge on study of economy, risk

MONT-TREMBLANT, Quebec, Feb 19 (Reuters) – The Bank of
Canada will base its March 4 interest rate decision on a careful
examination of how the economy and the risks to it are evolving,
deputy governor Agathe Cote said on Thursday.

The central bank last month shocked markets by cutting
interest rates, citing a threat to growth and its 2 percent
inflation target. Many market analysts expect another cut on
March 4 by the bank, which has stopped giving guidance on rate
decisions.

Feb 17, 2015

Canada has 3-4 years to take advantage of yuan hub -Chinese banker

OTTAWA, Feb 17 (Reuters) – Canada will have only three or
four years to take advantage of its renminbi clearing hub before
China liberalizes its capital account and so reduces the
competitive advantage the hub creates, a Chinese banker key to
the operation said on Tuesday.

During Canadian Prime Minister Stephen Harper’s visit to
China in November, it was announced that a clearing hub for the
yuan, or renminbi, would be established in
Toronto, the first such hub in the Americas.