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Inflation rate is lowest in 56 years – overall consumer price increase is a healthy 1.8%
Getty Images $(‘#lead-photo’).hover(function() { $(‘#lead-caption’).slideDown(300); }, function() { $(‘#lead-caption’).slideUp(300); }); Canada’s annual inflation rate slid to the lowest level in 56 years last month, dropping more than expected for the second straight month to set overall prices 0.9 per cent lower than last year, Statistics Canada reported Wednesday. The fall on a month-to-month basis was [...]
Full StoryFinally – The Canadian Economy is on the Mend
The Canadian economy is likely on the mend after a bad tumble in May, analysts said Friday after new data showed output shrank more than expected. Statistics Canada reported Friday the gross domestic product fell 0.5 per cent in May, pulled down by a battered manufacturing sector and weak demand for energy exports. It marked [...]
Full StoryWhat’s behind the loonie’s rise?
Last week’s rosy economic outlook by the Bank of Canada – it declared the recession over – helped boost the dollar (CAD/USD-I0.940.011.07%) . Currency markets shrugged off Bank of Canada Governor Mark Carney’s caution that a high dollar could hamper the recovery, focusing instead on his comment that Canada is emerging from the recession in [...]
Full StoryCanadian banks pass S&P stress tests
Canadian lenders have enough capital to withstand losses without needing to raise more cash, Standard & Poor’s said. “Like all banks elsewhere in the world, Canadian financial institutions are likely to experience additional losses as the recession continues,” the New York-based rating company said Thursday in a statement. “On the positive side, stress tests reveal [...]
Full StoryCanada readies response to ‘buy American’
Canada expects to present the United States with a proposal shortly, in reaction to “buy American” rules, which would open up public procurement more broadly to both Canadian and U.S. firms, Trade Minister Stockwell Day said on Wednesday. Mr. Day told U.S. Trade Representative Ron Kirk that Ottawa’s talks with the provinces are in their [...]
Full StoryBosses across Canada readying for a recovery
Canadian business sentiment has soared as bosses across the country prepare for a pick-up in economic activity, sales and employment amid better credit conditions, according to two Bank of Canada surveys released Monday. The results of the central bank’s Summer Business Outlook Survey are a dramatic change in mood from the Winter and Spring reports, [...]
Full StoryCash rich China eyes Canada’s rich resources
China’s purchase of a C$1.74 billion ($1.5 billion) stake in Teck Resources may be just the opening move from the world’s top resource consumer in a strategy to use its unique wealth advantage to become a key source of mining capital for Canadian firms. Teck said last week it sold a 17.2 percent equity stake [...]
Full StoryReal estate recovery expected to be tepid
The worst of Canada’s housing market woes appear to be past but the sector’s rebound will be tenuous as a rise in mortgage rates and high unemployment limit the recovery in prices and sales. Property experts say first-time buyers and Bank of Canada rate cuts have helped restore stability to a market that slumped from [...]
Full StoryHarper Government has Launched $1-Billion Clean Energy Fund, Invests in New Technology, Creates Jobs
Canada will further demonstrate its leadership in the development and advancement of clean energy technologies thanks to the launch of the $1-billion Clean Energy Fund, announced in May by the Honourable Lisa Raitt, Minister of Natural Resources, during an address to the University of Alberta. “By investing in the Clean Energy Fund, our Government is [...]
Full Story‘Boring is cool’ for Canadian banks
In any other industry at any other time, trying to build an ad campaign around stability would send shudders through marketing mavens. But there has never been a better time to be a stodgy Canadian banker. “I guess boring is cool and Canada is cool,” said Jim Little, chief brand officer with Royal Bank of [...]
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