TAKEAWAYS-Bank of Canada governor Macklem speaks after rate decision Reuters 2 hrs ago
TORONTO, April 21 (Reuters) - Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem on Wednesday after the central bank kept its key interest rate steady but sharply raised its outlook for the economy.
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MACKLEM ON GOVERNMENT TAX ON PROPERTY OWNED BY NON-RESIDENTS That will tend to reduce speculation and to the extent that foreigners are buying homes as an investment, it will encourage them to rent those out so that will contribute to the supply in the market. Those homes are not taken out of the market effectively.
Good morning!
It’s a massive week for the Canadian economy.
Prime Minister Justin Trudeau’s Liberal federal government is set to unveil its first budget in the pandemic era that Financial Post and National Post reporters will pore over later in the day after 4 p.m. if history is any indication, or when Chrystia Freeland, putting on her Finance Minister cap, rises to speak in parliament.
Equally significant, Bank of Canada will release its Monetary Policy Report and interest rate decision on Wednesday that’s what hacks like me call a big week in Canadian economy.
The budget is easily the most anticipated economic event in a while, given that it will be the Liberals’ first in two years. Potentially it could trigger a new election, but the NDP has already signalled that it will not take any action that will lead to Canadians heading to the polls in the middle of a pandemic.
Federal budget’s arts and culture funding is in addition to the $181.5-million that the government announced for live events and the arts in last November’s Fall Economic Statement
Canada s Federal Budget Throws Struggling Festivals a Lifeline with More Relief Funding
Photo: Rick Clifford
Published Apr 20, 2021
This week, the Canadian federal government rolled out its 2021 budget, and it s given Canadian music festivals large and small some welcomed financial relief.
In the 2021-2022 federal budget released yesterday (April 19), the Government of Canada has earmarked $200 million in spending to support major arts and cultural festivals (through regional development agencies) and another $200 million to smaller local festivals (via Canadian Heritage).
This comes in addition to the $181.5 million that the government announced for live events and the arts in last November s Fall Economic Statement.
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