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Oct 17, 2014

Canadian inflation hits Bank of Canada target of 2 percent

OTTAWA, Oct 17 (Reuters) – Canadian inflation settled
exactly at the Bank of Canada’s target of 2.0 percent in
September, with the core rate staying at 2.1 percent, according
to Statistics Canada data released on Friday.

Bank of Canada Governor Stephen Poloz has said some recent
price increases were temporary and therefore should be ignored,
suggesting a lower underlying rate, but for now inflation is at
the midpoint of the target range of 1 percent to 3 percent.

Oct 12, 2014

Britain puts stake in Eurostar up for sale

WASHINGTON (Reuters) – The British government plans to sell its 40 percent stake in the fast-speed Eurostar train operator that links Britain with the European continent, finance minister George Osborne announced late on Sunday.

Osborne invited bidders to put in expressions of interest by Oct. 31, and if the bids are high enough the plan would be to finalize agreements in the first quarter of next year.

Oct 11, 2014

Bank of Canada sees labor slack, looking through some inflation

WASHINGTON, Oct 11 (Reuters) – Canadians would be working
more hours if the nation’s recovery were truly self-sustaining,
Bank of Canada Governor Stephen Poloz said on Friday, casting a
different light on the surge in employment in September.

Poloz, who will be presenting the central bank’s Monetary
Policy Report on Oct. 22, also said a lot of the price hikes
Canada has seen recently were temporary and should be ignored in
setting monetary policy.

Oct 10, 2014

U.S. and UK to test big bank collapse in joint model run

WASHINGTON (Reuters) – Regulators from the United States and the United Kingdom will get together in a war room next week to see if they can cope with any possible fall-out when the next big bank topples over, the two countries said on Friday.

Treasury Secretary Jack Lew and the UK’s Chancellor of the Exchequer, George Osborne, on Monday will run a joint exercise simulating how they would prop up a large bank with operations in both countries that has landed in trouble.

Oct 10, 2014

Bank of Israel open to rate cut, unconventional tools

WASHINGTON (Reuters) – Bank of Israel Governor Karnit Flug voiced openness on Friday to reducing interest rates further or using other unconventional policy tools to boost inflation back to the target range.

In an interview with Reuters television, she also said she was more comfortable with the exchange rate than before the Israeli currency’s recent depreciation against a broadly strengthening dollar, and was not considering putting a floor on the dollar/shekel rate at this time.

Oct 10, 2014

Top official floats Europe growth pact as recession fears gather

WASHINGTON (Reuters) – A top euro zone official proposed a new growth deal for Europe on Friday as fellow finance diplomats from around the globe sounded alarm over the continent’s faltering growth and pressed for action to ward off a recession.

The International Monetary Fund, which cut its global growth forecasts for the third time this year ahead of its fall meetings this week, said Europe’s weakness was a matter of particular concern, a sentiment echoed by many policymakers, private economists and investors.

Oct 10, 2014

Bank of Canada to abandon general rate guidance -Poloz

WASHINGTON, Oct 10 (Reuters) – The Bank of Canada intends
generally to abandon guidance on the direction of interest rates
because doing so will lead to less volatility in normal times
and less market parsing of the central bank’s statements,
Governor Stephen Poloz told Reuters.

Poloz was speaking in conjunction with the release on Friday
of a paper on integrating uncertainty into monetary
policymaking, the first he has written since taking over as head
of the Bank of Canada last year.

Oct 9, 2014

Canada’s Oliver ready to act but sees no housing bubble

WASHINGTON, Oct 9 (Reuters) – The Canadian government stands
ready to act to cool the housing market if necessary but does
not see a housing bubble or the need for any dramatic moves,
Finance Minister Joe Oliver said on Thursday.

“We’re watching it, obviously. We don’t believe we’re in a
bubble,” Oliver said, adding that neither did the Bank of Canada
nor Canada’s housing agency nor the Organization for Economic
Cooperation and Development.

Sep 23, 2014

CN rail fines over grain shipments to proceed -Ottawa

OTTAWA, Sept 23 (Reuters) – The Canadian government
dismissed on Tuesday complaints from Canadian National Railway
Co that fines for failing to ship the required minimum
amounts of grain were unfair because there was not enough

Agriculture Minister Gerry Ritz said there was a backlog of
grain waiting for CN to move, even though it is less than
expected, and the other main carrier, Canadian Pacific Railway
Ltd, was having no problem meeting its minimum.

Sep 23, 2014

Canadian July retail sales slip from record level

OTTAWA, Sept 23 (Reuters) – Canadian retail sales slipped
unexpectedly in July, falling 0.1 percent from June’s record
level after six straight monthly increases, as strong auto sales
failed to offset weakness elsewhere, data showed on Tuesday.

This was the last major data point before gross domestic
product figures for July are released next Tuesday. Figures from
Statistics Canada have already shown strong exports and
manufacturing sales for the month but a 0.3 percent fall in
wholesale trade.