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☆ Top Bank of Canada officials speak after rate decision
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

MACKLEM ON POTENTIAL FOR NEGATIVE QUARTERS FOR GROWTH"We're forecasting small positives. When you're forecasting small positives you can't rule out that there's going to be a couple quarters of small negatives. MACKLEM ON NEEDING A PERIOD OF WEAK GROWTH"I would remind you that we actually need a period of weak growth. We're expecting pretty weak growth for the rest of the year, something a little less than 1%." MACKLEM ON NOT FORECASTING A MAJOR CONTRACTION"We're not forecasting a major contraction.

☆ After immigrant deaths at border, calls to end U.S-Canada asylum pact grow louder
▼ + stars: | 2023-04-04 | by ( Molly Cone | ) www.reuters.com time to read: +2 min

The deaths come less than two weeks after the Safe Third Country Agreement (STCA) pact was amended, allowing refugee claimants to seek asylum in the first safe country they arrive in. Protesters presented a petition to Public Safety Minister Marco Mendicino, whose ministry is responsible for border patrol and policing in Canada. Critics say this policy separates families and pushes immigrants to try to cross the border via deadly informal routes. Total of eight people from two families died last week trying to enter the United States from Canada by boat across the St. Lawrence River near Akwesasne, Quebec. Canada and United States have maintained that STCA has is the best way to manage the world's longest land border.

☆ Reactions: Canada 2023/24 budget deficit to jump, Ottawa to boost spending
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +7 min

JULES BOUDREAU, SENIOR ECONOMIST, MACKENZIE INVESTMENTS"The surprise was more on the revenue side more than the spending side. Prior to this budget we were not eligible for the carbon capture utilization and storage (CCUS) investment tax credit, but they have now broadened the eligibility parameters." "The big open question, heading into this budget was how was Canada going to react to the Inflation Reduction Act ... MARK ZACHARIAS, EXECUTIVE DIRECTOR OF CLEAN ENERGY CANADA"We thought today's budget was generally excellent and it sets Canada on a path for prosperity. "The investment tax credits for clean tech manufacturing positions Canada as a leader, particularly in zero-emissions vehicles."

☆ Even as Bank of Canada moves to sidelines, consumers not ready to splurge
▼ + stars: | 2023-03-22 | by ( Molly Cone | ) www.reuters.com time to read: +3 min

TORONTO, March 22 (Reuters) - When the Bank of Canada became the first major global central bank this month to pause raising interest rates after its most aggressive tightening campaign in history, indebted consumers heaved a sigh of relief. Consumers' reluctance to spend could challenge an economy facing headwinds from a record pace of interest rate hikes as retail spending accounts for about 5% of Canada's Gross Domestic Product. The Royal Bank of Canada's consumer spending tracker released on March 9 showed discretionary spending "held up" in February, driven by air travel demand. While it is unclear what part of that has been deployed, that kitty will help Canada to avoid a deep recession, she noted. "They're trying to lock in these interest rates," Porter said.

Last month, Google started testing limited news censorship as a potential response to a Canadian government bill that aims to compel online platforms to pay publishers in Canada for news content. Google has claimed that the test is like thousands of other product tests the company conducts on a regular basis. The tests, which the company says affected less than 4% of Canadian users, began on Feb. 9 and were scheduled to run for five weeks. Speaking to a parliamentary committee investigating the tests, Google's public policy manager Jason Kee confirmed that the tests would end next week. During the panel, questions were raised about local journalism outlets, like the 13-14 local, weekly papers that MP Martin Shields has in his riding.

OTTAWA, March 9 (Reuters) - Canadian Police said on Thursday they are investigating allegations that two Montreal-area centers are being used as Chinese state-backed "police stations" to intimidate or harass Canadians of Chinese origin. The investigation adds to mounting allegations of Chinese interference in Canada's internal affairs, including accusations by Ottawa that Beijing tried to influence the last two Canadian elections. In November, the RCMP also launched an investigation into similar reports of Chinese "police service stations" in the Toronto area. The RCMP's deputy commissioner for federal policing, Michael Duheme, told a parliamentary committee last week that the agency has "taken overt actions" that led to the ceasing of operations at four alleged Chinese police stations. The Quebec RCMP alleged that Canadians of Chinese origin have been "victims of the possible activities" conducted by two centers, in Montreal and nearby Brossard, it has identified as possible police stations run by Beijing.

☆ Canada repeals historic laws targeting women, LGBTQ community
▼ + stars: | 2023-03-07 | by ( Molly Cone | ) www.reuters.com time to read: +1 min

TORONTO, March 7 (Reuters) - Canada has expunged historic indecency and anti-abortion laws targeting women and the LGBTQ community, the government said on Tuesday, in a criminal justice system reform that will allow people convicted under such offences to clear their records. She said the government recognizes that past laws and regulations were unjust and compromised the freedoms of LGBTQ communities and women. The Royal Canadian Mounted Police have used indecency laws to raid gay nightclubs and bathhouses across Canada, charging customers, employees and performers. In 1981, some 286 men were charged under these outdated laws in Toronto for being at a bawdy house. The anti-abortion law has been outdated since 1988 when the Supreme Court of Canada named the law unconstitutional.

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