OTTAWA, June 20 (Reuters) – Restaurants operated by
McDonald’s Corp and others in Canada will face tough
restrictions on bringing in temporary foreign workers under
reforms announced by the government on Friday to address an
outcry over perceived abuses of the system.
Employment Minister Jason Kenney introduced the changes
after news reports said that foreign workers had displaced
Canadians working at some McDonald’s outlets. The subsequent
backlash had spurred the government to suspend a program under
which restaurants could bring in any number of temporary foreign
OTTAWA, June 20 (Reuters) – The Bank of Canada came under
pressure on Friday to stop fretting about low inflation after
unexpectedly sharp price gains pushed the rate above the central
bank’s target, making it more likely the next move in interest
rates will be higher.
Statistics Canada reported the annual inflation rate hit a
27-month high of 2.3 percent in May from 2.0 percent in April.
Core inflation, which excludes some volatile items like
gasoline, rose to 1.7 percent, the highest since July 2012, from
1.4 percent in April.
OTTAWA, June 20 (Reuters) – Costlier energy unexpectedly
pushed Canada’s annual inflation rate to a 27-month high of 2.3
percent in May from 2.0 percent in April, while a rise in the
core rate also put pressure on the Bank of Canada to tone down
its low-inflation concerns.
Statistics Canada reported on Friday that core inflation
jumped to 1.7 percent, the highest since July 2012, from 1.4
percent in April. The median forecasts in a Reuters survey of
economists were for 2.1 percent inflation overall and 1.5
percent for core, which strips out volatile elements.
OTTAWA, June 19 (Reuters) – The ratio of Canadian household
debt to income edged down further in the first quarter from the
record high it hit last year, buttressing policymakers’
expectations that a soft landing is in store for the housing
market and family indebtedness.
Statistics Canada reported on Thursday a ratio of 163.2
percent in the first quarter. The ratio reached a record high of
164.1 percent in the third quarter of last year, and dipped to
163.9 percent in the fourth quarter.
OTTAWA/VANCOUVER (Reuters) – Its decision to approve development of the controversial Northern Gateway oil pipeline could cost Canada’s governing Conservatives critical support in British Columbia, where they will need a strong showing in the 2015 election to secure another majority in Parliament.
Prime Minister Stephen Harper’s Conservatives have lots to lose in the Pacific Coast province, where they have 21 of its 36 seats in the House of Commons. As well as the seats they hold, they are banking on picking up some of six new seats, in Vancouver’s suburbs and elsewhere, that British Columbia will get for next year’s election.
VANCOUVER/OTTAWA, June 17 (Reuters) – The Canadian
government approved the construction of Enbridge Inc’s
Northern Gateway pipeline on Tuesday, setting the stage for a
barrage of lawsuits and demonstrations by environmental and
aboriginal groups opposed to the project.
Natural Resources Minister Greg Rickford announced the
decision in a statement that was widely expected. He said
approval of the proposed pipeline, which would link Alberta’s
oil sands with a Pacific port, was contingent on Enbridge
meeting more than 200 conditions set out by a regulatory panel.
OTTAWA, June 16 (Reuters) – Canadian economists are not too
concerned about low inflation, Finance Minister Joe Oliver said
after meeting several of them on Monday, sending a different
message than the one sounded recently by Bank of Canada Governor
Overall inflation rose to the central bank’s 2 percent
target in April, but Poloz said last week that underlying
inflation is still at a low 1.2 percent, which leaves Canada
“vulnerable to a downside shock at any time”.
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.