Publishing date: Jul 10, 2021 • 4 hours ago • 5 minute read •
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(Bloomberg) The shifting sands of global inflation will focus central bankers from Ottawa to Wellington in coming days after a month of mounting concern about consumer prices among counterparts including the U.S. Federal Reserve.
The Bank of Canada, which is already in the vanguard of Group of Seven economies dialing back stimulus, will continue that on Wednesday, with officials seen cutting weekly bond purchases by a third. That further step toward normalizing monetary policy could eventually presage interest-rate increases.
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Commodities send loonie soaring, but creates quandary for Canada
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Justin Trudeau’s debt-financed spending plan earned a stamp of approval from at least one former Bank of Canada governor amid a simmering debate over whether the budget can propel long-term growth.
Stephen Poloz, whose term as the nation’s central bank chief ended last June, said in an interview that he believes the government produced a sustainable fiscal plan that addresses pandemic-related needs, while avoiding major new taxes.
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Try refreshing your browser. Trudeau government s deficit spending wins Stephen Poloz s praise as sustainable Back to video
Finance Minister Chrystia Freeland is also taking steps to improve Canada’s long-term economic outlook, and that will help the country pay down its debt in the future, Poloz said. Her debut budget, released last month, has plenty of new spending over the next few years for dozens of initiatives, but the funding is mostly temporary.
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Canada’s economy continued its run of surprising strength at the start of the year, validating expectations that activity will soon return to pre-pandemic levels.
Gross domestic product grew 0.4 per cent in February, Statistics Canada reported Friday in Ottawa. A preliminary estimate shows momentum kept up in March with output expanding 0.9 per cent, which would be the 11th-straight monthly gain in GDP.
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Try refreshing your browser, or Canadian economy on cusp of full recovery after gaining for 11th month straight Back to video
The numbers highlight how well the nation’s economy handled successive waves of lockdowns to contain the spread of COVID-19, a resilience that’s fuelling a strong rebound in 2021 after the nation’s sharpest downturn in the post-World War II era. At this pace, output should return to pre-pandemic levels by the second half of this year even though lingering effects of the crisis wi
Publishing date: Apr 27, 2021 • 56 minutes ago • 4 minute read •
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(Bloomberg) Rogers Communications Inc. won a bidding war for Shaw Communications Inc. by giving the Shaw family two things it needed most: a high price and deal certainty. Now the question is what antitrust watchdogs will want from Rogers.
Securities documents filed by Shaw on Friday revealed that two companies vied for the Calgary, Alberta-based wireless and cable firm in an auction that lasted for weeks. BCE Inc., Canada’s largest telecommunications provider, matched Rogers’ $16 billion offer but wouldn’t agree to deal language that would have forced it to follow through with the purchase even if regulators attached major conditions. Rogers did.
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