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.
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
OTTAWA, Sept 5 (Reuters) – The Canadian economy unexpectedly
lost 11,000 jobs in August from July, and the number of
private-sector employees fell sharply in another sign that the
economy is still struggling to regain full speed.
Statistics Canada said on Friday that the unemployment rate
had remained at 7.0 percent. Analysts had forecast that 10,000
positions would be added after the gain of 41,700 jobs in July.
OTTAWA/WASHINGTON (Reuters) – Canada is likely to choose between two major U.S. firms when it buys a new fleet of jet fighters, excluding two European competitors, according to a source with direct knowledge of the matter.
The source, who spoke on the condition of anonymity, said Lockheed Martin Corp’s F-35 stealth fighter and Boeing Co’s F-18 E/F Super Hornet were deemed more suitable for the variety of tasks the military has laid out.
OTTAWA, Sept 3 (Reuters) – The Bank of Canada reiterated its
explicitly neutral stance and kept its overnight interest rate
at 1 percent on Wednesday, but highlighted new concern over the
overstretched household sector.
“Overall, the risks to the outlook for inflation remain
roughly balanced, while the risks associated with household
imbalances have not diminished,” it stated.
OTTAWA, Aug 29 (Reuters) – Strong consumer spending and a
jump in exports helped the Canadian economy bounce back from a
weather-restrained first quarter, with annualized growth of 3.1
percent in the second quarter after a downwardly revised 0.9
percent in the first.
The Statistics Canada data on Friday showed gross domestic
product growing at its fastest pace since the third quarter of
2011, beating the Bank of Canada’s July forecast of 2.5 percent
and exceeding market expectations of 2.7 percent.
OTTAWA, Aug 22 (Reuters) – Canada’s annual inflation rate
softened more than expected in July and the core rate
unexpectedly fell, Statistics Canada said on Friday, but the
surprise decline is not likely to worry the central bank.
The July figure comes after annual inflation rose to a
28-month high in June. Bank of Canada Governor Stephen Poloz
shrugged off that surge as temporary.
TORONTO/OTTAWA July 23 (Reuters) – Canada quietly issued new
details on rail safety regulation last week that included
specifications for the next generation of tank cars that are
tougher than some of the options proposed by the U.S. Department
of Transportation on Wednesday.
The safety proposals by Transport Canada for hauling
dangerous goods, released online on Friday, builds on measures
first announced in April that will require older DOT-111 rail
cars used for carrying crude oil be phased out by May 2017.
OTTAWA, July 23 (Reuters) – Strong car sales helped push
Canadian retail trade up by 0.7 percent in May to a new record
C$41.98 billion ($39.23 billion), Statistics Canada reported on
Wednesday, pointing to continued energy in the economy despite a
weak first quarter.
Sales by motor vehicle and parts dealers, which account for
just under one quarter of total retail sales, were up 2.5
percent. Excluding this sector, retail sales rose 0.1 percent,
and excluding the auto sector and gasoline, retail sales were
down 0.3 percent. The figures are adjusted for seasonal factors.
OTTAWA (Reuters) – Shrugging off a recent surge in inflation as temporary, the Bank of Canada held its key overnight interest rate at 1 percent on Wednesday, as expected, and insisted it could just as easily cut rates as raise them.
In the statement that accompanied the rate decision, the bank, however, did omit language it had used in its June rate statement that said the downside risks to its inflation outlook remain important, an acknowledgement that overall inflation hit 2.3 percent in May and that core inflation was also higher than expected.