Canada
Bank of Canada maintains policy rate at 4.5%
The bank's governing council will continue to assess economic developments and the impact of past interest rate increases, and is prepared to increase the policy rate further if needed to return inflation to the 2 per cent target, the central bank said in a statement.The bank said it is continuing its policy of quantitative tightening to complement its restrictive stance.
Bank of Canada hikes policy interest rate by 25 basis points
The country's inflation declined from 8.1 per cent in June to 6.3 per cent in December, reflecting lower petrol prices and, more recently, moderating prices for durable goods, the Bank of Canada said, adding that despite this progress, Canadians are still feeling the hardship of high inflation in their essential household expenses, with persistent price increases for food and shelter.
Canada's economy rises 0.7% in Q3
Statistics Canada said that growth in exports, non-residential structures, and business investment in inventories were moderated by declines in housing investment and household spending, reports Xinhua news agency. Final domestic demand, composed of expenditures on final consumption and capital investment, edged down 0.2 per cent, following a 0.6 per cent increase in the second quarter.
Indo-Canadian firm to raise C$400 mn by 2022 end
The Brampton-based equipment financing source, which provides loans and leasing options for a wide range of transportation, construction, industrial and commercial equipment, had raised C$250 million last year.
'Canada might enter mild recession'
The Department of Finance has developed a "downside scenario" that considers the impact of more persistent inflationary pressures and further tightening in monetary policy, leading to a "hard landing" in the economy, Xinhua news agency reported, citing the statement. In the downside scenario, CPI inflation stays above 3 per cent until the first quarter of 2024, about six months longer than in the September 2022 survey, before reaching 2 per cent by the end of 2024.
Canadians adjust spending habits, lifestyle to cope with inflation
According to a new survey conducted by the national statistical agency from April 19 to May 1 on Thursday, half of Canadians said they have sought out sales and promotions in the six months preceding the survey. Meanwhile, 47 per cent have found themselves purchasing cheaper alternatives, brands or items, and 45 per cent have delayed making a purchase in response to rising prices, Xinhua news agency reported.
Ukraine conflict, climate action play major role in Canada's 2022 budget
The budget she tabled on Thursday includes more than $6.4 billion in new funding over five years to better equip the Canadian Armed Forces; increase Canada's contributions to the North Atlantic Treaty Organization (NATO) and the North American Aerospace Defense Command (NORAD); and reinforce Canada's cyber-security strategy to prevent and defend against attacks, including those against government agencies and critical infrastructure.
Canada's inflation rose to highest in 30 yrs
Prices at the gas pumps were up 33.3 percent year over year in December compared with a 43.6 per cent annual increase in November as the tightening of public health restrictions related to the Omicron Covid-19 variant weighed on demand.
Binance CEO becomes one of the world's richest billionaires
Zhao's projected fortune now is just below that of Oracle founder Larry Ellison and surpasses that of Mukesh Ambani, the Indian tycoon whose fortune has also soared over the last two years. The ascent of the Chinese-Canadian entrepreneur is emblematic of the rapid creation of wealth in the fast-moving world of digital currencies.
Canada unveils new financial program to stimulate economy
Titled "Supporting Canadians and Fighting Covid-19", the 237-page fiscal update launched on Monday offers a revised look at the Canadian economy and the impact of the ongoing pandemic-induced recession on the country's economic outlook, reports Xinhua news agency.
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