Posts Tagged ‘Canada’
Canadian Finance Minister Jim Flaherty told a press conference on Tuesday that despite uncertainty in the Eurozone and a slowing U.S. economy, he expects Canada will remain resistant to recession. Nevertheless, the Finance Minister noted that he is prepared to act if necessary noting that the government will consider further stimulus spending if conditions warrant.
Despite [...]
The Bank of Canada maintained its target for the overnight rate unchanged at 1.00%; also holding the Bank Rate at 1.25% and the deposit rate at 0.75%. The Bank noted: “In light of slowing global economic momentum and heightened financial uncertainty, the need to withdraw monetary policy stimulus has diminished. The Bank will continue to monitor carefully [...]
Early indications are that the Canadian dollar could decline ahead of tomorrow’s Bank of Canada interest rate announcement. Despite recording a 3.9 percent increase in Gross Domestic Product for the first three months of the year, most observers expect Governor Mark Carney to announce that the Bank of Canada will not raise rates beyond the [...]
This has not been a good week for those hoping to see confirmation of an improving U.S. economy. If anything, evidence suggests the pace of growth is waning and April’s consumer spending numbers were particularly disappointing. Total purchases for the first quarter of the year were far behind those recorded during the final [...]
For anyone who remembers cut-rate vacations to Canada, the recent rise of the loonie against the dollar has been somewhat disorienting. But recent currency moves suggest the Canadian dollar’s days of dominance may be numbered. Is it time to pack the car and head north?
For the past eight months, the Canadian dollar has been rising [...]
Details here…
A summary here…
This morning, Canadian CPI figures came in less than expected prompting further selling in the Loonie. The headline figure came in at 2% vs. an expectation of 2.3%, both of which were lower than the last reading. With slowing inflation taking place, it should keep the BOC on hold with rate hikes for a while.
Meanwhile, [...]
Mark Carney in an interview with CNBC has said that recent weakness in the US economy was of some concern, but that Canada’s economy is back at it’s pre-recession peak both in output and employment.
The official opined that the extremely accommodative monetary policy in Canada has had an impact. Credit growth continued even through the [...]
A Reuters poll of Canadian economists shows that 55% expect a 25 bp hike from the BOC next week to 1%. For what its worth, 10 of 12 primary dealers (firms that deal at Canadian bond auctions) see a hike next week.
Looks like we could get some volatility on Wednesday, if nothing else.
BOC estimates cumulative net benefits of new bank rules for Canada over time to be C$200 bln, or 13% of GDP
BOC says if total bank capital ratio increased by 2%, for example, Canada GDP level would rise 0.8% per year in long run
Wow, really!! Personally found the stuff about the Daleks much more interesting……
