OTTAWA, Dec 15 (Reuters) – The Canadian government will curb
its spending if necessary due to lower oil prices in order to
meet its budgetary plans, Treasury Board President Tony Clement
told Reuters on Monday.
The federal government has pledged to balance the budget in
2015-16 but if oil prices continue to be low, they are expected
to take a bite out of government revenues
OTTAWA (Reuters) – Canadian consumers may have ended up
paying higher prices for cellphones and wireless services
because of contracts between Apple Inc’s Canadian unit
and domestic carriers, the Canadian Competition Bureau said in a
court filing this week.
The affidavit made on Tuesday by the Competition Bureau’s
Vincent Millette listed several ways the agreements with the
phone companies may have prevented or lessened competition.
OTTAWA (Reuters) – Canada will stay part of Lockheed Martin Corp’s F-35 Joint Strike Fighter program while a decision is made on whether to actually buy the plane, the government said on Wednesday.
But Ottawa outlined several risks to the program, which has been hit by major delays and cost overruns. The risks include software delays and limitations as well as affordability.
OTTAWA (Reuters) – Canadian housing may be overvalued by as much as 30 percent, but risks to the country’s financial system remained steady with a stronger U.S. recovery expected to help keep Canada’s economy out of trouble, the Bank of Canada said on Wednesday.
The central bank also said the recent slump in oil prices was not enough to trigger a severe recession that could lead to a sharp correction in housing prices.
OTTAWA, Dec 9 (Reuters) – Prime Minister Stephen Harper
signaled on Tuesday that Canada would not impose regulations on
the oil and gas industry to reduce greenhouse gases without
simultaneous action from the United States, given the steep fall
in oil prices.
“We want to see oil and gas regulations on a continental
basis given the integrated nature of this industry,” Harper told
Parliament. “With the current conditions in the oil and gas
sector, this government will not consider unilateral
OTTAWA, Dec 9 (Reuters) – The Canadian government introduced
legislation on Tuesday to give the country’s competition
watchdog the power to embarrass companies that charge more for
products in Canada than they do in the United States.
The Conservative government’s proposed Price Transparency
Act would fall short of making it illegal to engage in price
discrimination. Doing so had been roundly criticized by
economists as undue interference in the marketplace. Instead,
the bill provides a mechanism to expose price differences.
OTTAWA, Dec 3 (Reuters) – The Bank of Canada held its policy
rate unchanged at 1 percent on Wednesday, declaring that while
Canada’s economic recovery is broadening to include exports and
business investment, lower oil prices could cut inflation more
“Canada’s economy is showing signs of a broadening
recovery,” the bank said. “Stronger exports are beginning to be
reflected in increased business investment and employment. This
suggests that the hoped-for sequence of rebuilding that will
lead to balanced and self-sustaining growth may finally have
OTTAWA (Reuters) – Canada’s economy grew faster than expected in the third quarter, according to data on Friday, but cheaper oil prices add to the likelihood the Bank of Canada will not consider higher interest rates anytime soon despite the recent run of strong figures.
At 2.8 percent, third quarter growth eclipsed a 2.1 percent market forecast and the Bank of Canada’s 2.3 percent estimate, following 3.6 percent in the second quarter.
OTTAWA, Nov 28 (Reuters) – Canada’s economy grew faster than
expected in the third quarter, according to data on Friday, but
cheaper oil prices add to the likelihood the Bank of Canada will
not consider higher interest rates anytime soon despite the
recent run of strong figures.
At 2.8 percent, third quarter growth eclipsed a 2.1 percent
market forecast and the Bank of Canada’s 2.3 percent estimate,
following 3.6 percent in the second quarter.
OTTAWA, Nov 26 (Reuters) – Canada’s housing market is likely
to achieve a soft landing but authorities may need to tighten
mortgage rules more than they have already to make it less
vulnerable to a crash, the International Monetary Fund (IMF)
said on Wednesday.
Officials at the international agency said the Bank of
Canada can afford to keep its monetary policy accommodative
until signs emerge of a more balanced and durable recovery with
stronger business investment.