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Bank of Canada expected to keep its rate promise-near zero levels
The Bank of Canada will stick to its conditional pledge to keep its benchmark interest rate at its current near-zero level through the second quarter of next year, most Canadian primary securities dealers said on Friday. Eight of Canada’s 12 primary dealers polled by Reuters predicted the slow pace of economic recovery will prevent the [...]
Full StoryConsumer prices decline 0.3% in June
Canada’s inflation rate for June was negative 0.3%, marking the first time since November 1994 overall prices have declined on a 12-month basis. Statistics Canada said the decline in prices was primarily due to a 19% drop in energy prices, particularly gasoline. Excluding energy, prices were up 2.1% from a year earlier. It marked the [...]
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 StoryBoC surveys imply GDP surge coming: report
Surprisingly positive results from two Bank of Canada business surveys would suggest the country is poised for a quarter or two of 10% growth, says a report released Wednesday from Merrill Lynch Canada. The surveys, unveiled this week, said businesses are the most optimistic about their future sales prospects in almost a decade, and obtaining [...]
Full StoryBusiness sentiment upbeat, BoC survey says
Canadian business expect better conditions ahead for the economy, and hold positive expectations for sales growth as well as employment, the Bank of Canada says in its Summer Business Outlook Survey. The turn in sentiment is a dramatic change to expectations taken in Spring, but businesses still foresee a level of difficulty ahead and expect [...]
Full StoryWhat comes after The Great Recession?
There is growing consensus that a global economic recovery is in the making, albeit the pace will be tepid and restrained. Momentum should, however, build through 2010 and 2011. The question we should start asking is, ‘What comes next?’ In part this will depend upon the skill and will of central bankers. They will need [...]
Full StoryPace of economic decline is slowing – Economy improving
The outlook for the economy continues to improve, based on Statistics Canada’s leading indicator. The statistics gathering agency said Wednesday the pace of decline in its leading indicator index slowed sharply in May to just 0.1 per cent. That marked the smallest of nine consecutive declines, Statistics Canada said. In fact, the month-over-month change – [...]
Full StoryRBC predicts recession will end next quarter
Royal Bank of Canada has become the first of the country’s major banks to officially predict the recession will end in the third quarter as fiscal and monetary stimuli begin to heal the economy. With housing resales up, manufacturing declines slowing and the third quarter just two weeks away, Canada can look forward to better [...]
Full StoryFlaherty sees U.S. deficit as biggest threat to recovery
The biggest risk to Canada’s economic recovery is not the rising dollar or climbing oil prices, but the burgeoning U.S. deficit, Finance Minister Jim Flaherty said at the close of the Group of Eight finance ministers meeting. Although Canada is showing signs of renewed economic life and better consumer confidence, Mr. Flaherty said “I worry [...]
Full StoryCarney delivers reality check on economy
Mark Carney, the Bank of Canada governor, suggested Thursday the markets might be premature in their enthusiasm about improving economic conditions, and are underestimating how long it will take for the global economy to heal. His remarks, made in Montreal at the International Economic Forum of the Americas, came after a speech in which he [...]
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