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Stephen Poloz Right To Be Worried
Stephen Poloz Right To Be Worried Bank of Canada governor Stephen Poloz cited numerous worries plaguing the economy during his speech to Toronto’s financial elites yesterday at the prestigious Canadian Club. However, the title of Poloz’s presentation, “Three things keeping me awake at night” seemed odd, given positive recent Canadian employment, GDP and other data. […]
Bank of Canada keeps benchmark interest rate at 0.5%
Bank of Canada keeps benchmark interest rate at 0.5% Central bank’s rate has impact on rates offered by commercial banks for loans and savings accounts The Bank of Canada, lead by governor Stephen Poloz, kept its benchmark lending rate at 0.5 per cent on Wednesday. (Adrian Wyld/Canadian Press) Canada’s central bank stood pat today, electing […]
OECD cuts growth outlook for Canada’s economy this year and next
OECD cuts growth outlook for Canada’s economy this year and next Canada, other economies ‘reliant on commodity exports’ bear brunt of global slowdown A worker builds a jet engine at a factory in Quebec. According to the OECD, Canada’s economy is going to perform worse than previously anticipated this year and next. (Radio-Canada) One of […]
IMF downgrades Canadian growth outlook to 1% for 2015
IMF downgrades Canadian growth outlook to 1% for 2015 Risks for the world include low commodities prices, China’s slowdown and rate hikes The IMF has downgraded its outlook for Canadian growth to one per cent this year because of the impact of lower oil and commodities prices. It also has revised its expectations for global […]
Three Worrying Economic Trends Beyond Canada’s GDP Drop
Three Worrying Economic Trends Beyond Canada’s GDP Drop New data confirms what 79 per cent of Canadians already felt. The much anticipated quarterly GDP numbers are out, and StatsCan confirmed what 79 per cent of Canadians already felt to be the case — Canada’s economy is in decline. A drop in economic activity of 0.1 per cent in the second […]
Friday job numbers may tell tales GDP missed: Don Pittis
Friday job numbers may tell tales GDP missed: Don Pittis Stats could show if slump is over and whether there is a rebound outside the oil industry Opponents in the battle over whether the Canadian economy is collapsing or clawing its way back to recovery will get more ammunition on Friday. That’s when we learn the latest figures on job […]
Canada’s economy: 5 reasons not to panic
Canada’s economy: 5 reasons not to panic Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm A recent spate of frightening economic headlines paints a dire picture of the economy, but an examination of some basic gauges of Canadians’ financial health demonstrates it’s not all doom and gloom. TSX, Dow charge higher as […]
Federal election campaign’s phoney debate over deficits: Chris Hall
Federal election campaign’s phoney debate over deficits: Chris Hall Answers on how parties plan to pay for campaign promises may not come for weeks yet This federal election is supposed to be about the economy, an opportunity for voters to determine which party is offering the best plan to create jobs, open new markets for […]
Enjoy Canada’s low dollar while you can: Don Pittis
Enjoy Canada’s low dollar while you can: Don Pittis There’s not much you can do about the low loonie, so just look on the bright side The low Canadian dollar is hurting John Stiles at Calgary-based Planet Foods. His company distributes natural foods and healthy snacks across Canada. The cost of his U.S. imports is […]
China’s market woes could be chance to ‘reset’ Canadian economy
China’s market woes could be chance to ‘reset’ Canadian economy Canada should ‘rely less on commodity growth and put the emphasis on other sectors,’ analyst says China’s staggering economic growth has been, in many ways, a boon for Canada. Put simply, China need lots of the things we have to offer like wood, metals, and […]
What U.S. Fed chair Janet Yellen doesn’t know: Don Pittis
What U.S. Fed chair Janet Yellen doesn’t know: Don Pittis Continued risks to a U.S. and Canadian economic recovery keep us guessing about interest rates If everyone is so confident interest rates are going to go up in the autumn, why doesn’t U.S. Federal Reserve chair Janet Yellen just say they are going to go up in […]
Forget politics, here is what the economy needs: Don Pittis
Forget politics, here is what the economy needs: Don Pittis Try seeking a recovery as if Canada weren’t in election mode If Prime Minister Stephen Harper could wave a magic wand and make the Canadian economy boom, you’d think he would do it now. It’s well-known that one of the main barriers for an existing government to […]
Will Fixed Election Hurt Canada’s Economy? This Economist Thinks So
Will Fixed Election Hurt Canada’s Economy? This Economist Thinks So On verge of recession, campaign might steamroll stimulus. The first day of September will be a critical one for Canada, say economists. That’s the day new economic data will determine whether or not Canada’s economy shrunk two quarters in a row. A second downturn will […]
Canadian Economy More Damaged By Oil Prices Than Expected
Canadian Economy More Damaged By Oil Prices Than Expected Canada’s oil industry has had a rough couple of months with production and exports taking a hit. Low oil prices are cutting into the profits of major producers. Producing from Alberta’s oil sands is costly and requires a high oil price to justify the expense. In […]
