Randall's Feed
Jan 27, 2015

Canada Liberals can lift spending and avoid deficits -Trudeau

OTTAWA, Jan 27 (Reuters) – If Canada’s opposition Liberals
win the election set for this October they would be able to
boost spending on their priorities without necessarily running a
budget deficit, party leader Justin Trudeau told Reuters on
Tuesday.

Trudeau’s centrist Liberals are neck and neck with the
governing right-of-center Conservatives in the runup to the
election.

Jan 23, 2015

Analysis – Bank of Canada’s shock move marks clear break with Carney era

OTTAWA (Reuters) – Bank of Canada Governor Stephen Poloz’s shock rate cut on Wednesday sent a clear message to financial markets: Don’t expect me to hold your hand.

Trading floors reacted by selling the Canadian dollar and uttering more than the usual number of expletives, but the move drove home that the central bank has changed its views about a monetary policy tool used by Poloz’s predecessor Mark Carney, who’s now Governor of the Bank of England.

Jan 23, 2015

Bank of Canada’s shock move marks clear break with Carney era

OTTAWA, Jan 23 (Reuters) – Bank of Canada Governor Stephen
Poloz’s shock rate cut on Wednesday sent a clear message to
financial markets: Don’t expect me to hold your hand.

Trading floors reacted by selling the Canadian dollar and
uttering more than the usual number of expletives, but the move
drove home that the central bank has changed its views about a
monetary policy tool used by Poloz’s predecessor Mark Carney,
who’s now Governor of the Bank of England.

Jan 21, 2015

Bank of Canada shocks market with rate cut, blames oil plunge

OTTAWA (Reuters) – The Bank of Canada stunned markets by cutting interest rates on Wednesday, citing a threat to economic growth and its inflation targets from the dramatic drop in oil prices and said the bank stood ready to ease policy further if necessary.

Governor Stephen Poloz said the central bank’s surprise move to stimulate the economy provides “insurance” against risks for Canada, a major oil producer, stemming from the “oil price shock”. He said oil’s plunge could worsen household debt burdens by driving up unemployment and cutting incomes.

Jan 21, 2015

Bank of Canada delivers shock rate cut as ECB gears up for quantitative easing

OTTAWA/FRANKFURT (Reuters) – The Bank of Canada joined the list of “unpredictable” central banks on Wednesday with a shock quarter point rate cut as the European Central Bank prepared a 600 billion euro ($695 billion) bond-buying program aimed at lifting Europe out of its economic doldrums.

The Canadian move came in response to a sharp drop in oil prices that hit the commodity-dependent economy, expected to grow by just 1.5 percent in the first half of this year compared with the central bank’s previous forecast of 2.4 percent.

Jan 21, 2015

Bank of Canada delivers shock rate cut as ECB gears up for QE

OTTAWA/FRANKFURT, Jan 21 (Reuters) – The Bank of Canada
joined the list of “unpredictable” central banks on Wednesday
with a shock quarter point rate cut as the European Central Bank
prepared a 600 billion euro ($695 billion) bond-buying program
aimed at lifting Europe out of its economic doldrums.

The Canadian move came in response to a sharp drop in oil
prices that hit the commodity-dependent economy, expected to
grow by just 1.5 percent in the first half of this year compared
with the central bank’s previous forecast of 2.4 percent.

Jan 21, 2015

Bank of Canada makes shock rate cut on oil concerns

OTTAWA (Reuters) – In a shock move, the Bank of Canada cut its benchmark interest rate on Wednesday to counter the effects of cheaper oil on economic growth and inflation and help guard against the risks of a housing market downturn.

Ending the longest period of unchanged rates in Canada since 1950, the central bank cut its overnight rate to 0.75 percent from 1 percent, where it had been since September 2010, and it dramatically slashed its inflation and growth forecasts for the coming year.

Jan 15, 2015

South Korean BlackBerry bid not seen raising Canadian concerns

OTTAWA (Reuters) – A possible bid for BlackBerry Ltd by South Korea’s Samsung Electronics Co Ltd would be unlikely to raise Canadian government security concerns, sources familiar with Ottawa’s thinking said on Wednesday.

“I don’t imagine that there’d be any security roadblocks,” the source said, reacting to a Reuters story that Samsung had recently approached BlackBerry Ltd about buying the smartphone maker.

Dec 23, 2014

Surprise Canada GDP gain in October sets up solid quarter

OTTAWA (Reuters) – The Canadian economy showed surprising strength in October, growing by 0.3 percent after a 0.4 percent gain in September, due in part to an unexpected surge in manufacturing, according to Statistics Canada data released on Tuesday.

Economists now expect annualized fourth-quarter growth to come in close to, or above, the Bank of Canada’s 2.5 percent forecast, which would be high enough to eat into some of the economy’s spare capacity. Previous predictions had been as low as 2 percent.

Dec 17, 2014

Canada court to order Apple to turn over records in iPhone probe

OTTAWA (Reuters) – The Federal Court of Canada agreed on
Wednesday to order Apple Inc’s Canadian subsidiary to
turn over documents to the Competition Bureau to help
investigate whether Apple unfairly used its market power to
promote the sale of iPhones.

In seeking the order, the Competition Bureau said agreements
Apple negotiated with wireless carriers may have cut into
competition by encouraging the companies to maintain or boost
the price of rival phones.