OTTAWA, (Reuters) – Canada’s financial system is robust despite lingering concern about a stretched housing market, while external risks from China have increased, the Bank of Canada said on Thursday.
The bank said in its semiannual Financial System Review that household debt and overvalued housing remained the most important vulnerability.
OTTAWA (Reuters) – Prostitutes in Canada will generally be allowed to sell their services, but for the first time it will be a crime to buy sex from them under a government bill introduced on Wednesday to replace legislation the Supreme Court struck down in December.
The Supreme Court had suspended for a year the effect of its decision, which struck down a ban on brothels and street solicitation on the grounds that it compromised the safety of sex workers, to allow time for a new law to be enacted.
OTTAWA, June 4 (Reuters) – The Bank of Canada held its main
interest rate at 1 percent on Wednesday and said the risks of
low inflation loom as large as ever despite a
faster-than-anticipated rise in prices, remarks that some
economists interpreted as being dovish.
The central bank also flagged weaker-than-expected global
growth and the possibility of slightly less underlying momentum
in the United States, and noted that the Canadian economy grew
only modestly in the first quarter.
OTTAWA, (Reuters) – The Bank of Canada kept its main interest rate on hold at 1 percent on Wednesday, as expected, and said the risks of low inflation loom as large as ever, though prices have been rising faster than it had anticipated.
The central bank also flagged weaker-than-expected global growth and the possibility of slightly less underlying momentum in the United States and noted that the Canadian economy grew only modestly in the first quarter.
OTTAWA, May 30 (Reuters) – Canada will refrain from funding
abortions abroad as it promotes maternal and children’s health
in poor countries because the issue is too divisive and could
undermine a broader push to save lives, Prime Minister Stephen
Harper said on Friday.
The Conservative leader has resolutely resisted any attempt
to restrict abortions in Canada, where the procedure is legal,
but he has acquiesced to demands from within his caucus not to
promote abortion in other countries.
OTTAWA, May 29 (Reuters) – Canada signaled on Thursday it is
likely to make a decision in the next few weeks on whether to
replace its aging CF-18 fighter jets with F-35 stealth fighters
from Lockheed Martin Corp or hold an open competition
among aircraft makers.
Public Works Minister Diane Finley said on Thursday the
Conservative government will finish its review of reports on how
to replace its jet fighters in the coming weeks. Her spokesman,
Marcel Poulin, said both a government decision on how to proceed
and the release of the review are likely to come in that period.
OTTAWA, May 23 (Reuters) – - Canada’s annual inflation rate
rose to the central bank’s 2 percent target in April for the
first time in two years, Statistics Canada said on Friday,
further dampening talk of a cut in interest rates.
The jump from 1.5 percent in March was exactly as expected
in a Reuters survey of analysts, as was the 0.3 percent monthly
rise in prices from March.
OTTAWA, May 16 (Reuters) – Possible changes to make it
harder to bring temporary foreign workers into Canada may force
some restaurants to curb their hours or even shut down, and
could hamper important exports if not properly structured,
employers groups warned on Friday.
Employment Minister Jason Kenney and Immigration Minister
Chris Alexander on Thursday bandied about with employers and
unions several ideas for reforming the temporary foreign worker
program, which has recently come under enormous criticism.
OTTAWA, April 23 (Reuters) – Canada will require that the
use of older rail cars for carrying crude oil be phased out
within three years, even though the United States has yet to
make such a rule change, according to documents seen by Reuters
The unilateral move is a response to recommendations that
followed an investigation into a fiery rail-car derailment in
Lac-Megantic, Quebec, last July that killed 47 people.
OTTAWA, April 17 (Reuters) – The Canadian government will
take several more weeks to evaluate its options for the
much-delayed replacement of the country’s CF-18 fighter jets,
Public Works Minister Diane Finley said on Thursday.
The decision boils down to whether to proceed with a
single-source contract to Lockheed Martin Corp for 65
F-35 stealth fighters or to go with a tender that opens up the
bidding to competitors.