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Premiers conference could see clash over pipelines and emissions
Premiers conference could see clash over pipelines and emissions Saskatchewan Premier Brad Wall signals growing frustration with Ontario, Quebec Canada’s longest serving premier isn’t happy. Not one bit. And Brad Wall is letting some of his colleagues know it before he arrives in St. John’s for the annual meeting of the country’s provincial and territorial […]
Bank of Canada Sees Global Economy, Freaks Out, Cuts Rate, Warns of Financial Stability Risks, Loonie Plunges
Bank of Canada Sees Global Economy, Freaks Out, Cuts Rate, Warns of Financial Stability Risks, Loonie Plunges The Bank of Canada took a good look at the Canadian economy, saw it was sinking into the mire, glanced at the collapsed prices of commodities, particularly oil, saw how they were wreaking havoc in Canada, and then […]
USDCAD Surges To 6 Year Highs As Bank Of Canada Slashes GDP Forecasts, Unexpectedly Cuts Rates
USDCAD Surges To 6 Year Highs As Bank Of Canada Slashes GDP Forecasts, Unexpectedly Cuts Rates In what seems to have surprised FX trader, Bank of Canada has taken an ax to growth forecasts and rates… *BOC CUTS CANADA 2015 GDP FORECAST TO 1.1% FROM 1.9% *BANK OF CANADA CUTS 2Q GDP ESTIMATE TO -0.5% […]
Sacred Cows? Nah, Secretive Trade Deals Are Mostly Bull
Sacred Cows? Nah, Secretive Trade Deals Are Mostly Bull Global pacts like the TPP threaten made-in-Canada system, argue dairy farmers. [Editor’s note: The 12-nation Trans-Pacific Partnership, now in advanced stages of negotiation, is ruffling the feathers of Canadian dairy farmers, who worry the agreement will impact the industry’s long-standing “supply management” system that protects farmers […]
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market
Largest “Alternative” Mortgage Lender in Canada Plunges, Denies “Systemic Problem” in Housing Market Home Capital Group, Canada’s largest non-bank mortgage lender, focuses on “alternative” mortgages, as they’re called euphemistically, that is high-profit mortgages to risky borrowers with dented credit or unreliable incomes, such as self-employed folks or new immigrants, who don’t qualify for mortgage insurance […]
Bank of Canada interest rate decision: To cut or not to cut?
Bank of Canada interest rate decision: To cut or not to cut? With interest rates at historic lows, could it possibly make sense to go even further? It came as a shock to just about everyone when Bank of Canada governor Stephen Poloz announced the central bank would lower its benchmark lending rate in January to 0.75 […]
Is Canada Next? Recession Is “Quite Contained”
Is Canada Next? Recession Is “Quite Contained” “In the current context, if you look at the growth numbers, the recession is effectively in the goods sector, it’s in the oil industry, it’s weak growth in manufacturing, weak growth in construction,” explained Kevin Page, Canada’s former parliamentary budget officer, a watchdog role charged with analyzing the […]
BCers to Province: Stop the Senseless Water Giveaway
BCers to Province: Stop the Senseless Water Giveaway Surrey residents pay $1,630 per million litres; why not Nestle or frackers? “The province is not seeking to make a profit from water.” — BC Environment Minister Mary Polak No kidding — not at $2.25 per million litres of cold, clean B.C. water! But seriously minister, do you think […]
Calgary thunderstorm causes power outages, flooding in Chestermere
Calgary thunderstorm causes power outages, flooding in Chestermere Lightning advisory that grounded all flights at Calgary airport now lifted People in Calgary woke up with a bang early Sunday morning as a line of thunderstorms hovered over the city, bringing lightning, power outages and overland flooding in communities to the east. As the storms moved eastward, […]
Top 5 Oil Producing Countries Could See Production Peak This Year
Top 5 Oil Producing Countries Could See Production Peak This Year The EIA’s Short-Term Energy Outlook came out a few days ago. That is where they try to guess the future production and price for oil, for the USA as well as the world. As of late they seem to be getting a little timid with their […]
Experts Make Case for Letting Canada’s Wildfires Burn
Experts Make Case for Letting Canada’s Wildfires Burn Fires ‘reset the landscape to be less flammable,’ say researchers. As climate change is fingered as a catalyst driving the early rash of forest fires across northern and western Canada, experts say the most prudent approach at this stage is to, whenever possible, let the fires burn. Western Canada […]
Side-Effects Include: Household Debt
Side-Effects Include: Household Debt Bank of Canada Governor Stephen Poloz fancies himself a surgeon. He compares cutting interest rates to life-saving surgery for the economy. I consider it more like bloodletting, a terrible practice that is now widely accepted as pseudoscience. According to Canada’s central banker, if the interest rate cut resulted in an increase of […]
Canadian households are racking up more debt, poll suggests
Canadian households are racking up more debt, poll suggests Average Canadian household owes $92,699, BMO poll suggests A new poll suggests Canadian households are piling on more debt and plan to borrow more in the short term, even though a slight rise in interest rates would “stress” most of them out. In BMO’s Annual Debt […]
Canada’s economy isn’t in recession, despite report, Joe Oliver says
Canada’s economy isn’t in recession, despite report, Joe Oliver says Private sector economists warn of possibility of recession this year Despite an economy that’s shrunk every month for which we have data this year, the federal finance minister says Canada is not in a recession and is poised for growth later in 2015. At an event […]
Shadow mortgage lending on the rise as house prices soar
Shadow mortgage lending on the rise as house prices soar Shadow lending represents about 4 to 5 per cent of Canada’s mortgage market Canada’s housing boom is increasingly driving homebuyers to seek mortgages from private lenders, who demand rates that can be more than five times higher than those charged by the nation’s banks. Canadian […]
