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☆ NATO ally Greece wants the F-35, but it wants them once the fifth-gen stealth fighter's 'childhood illness' is cured
▼ + stars: | 2024-03-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewGreece's military leadership has announced radical changes in its Armed Forces, particularly its air force, including plans to offload older combat aircraft and get new F-35 stealth jets. "Development and production concurrency is Block 4′s most critical challenge, and we are dealing with its consequences today," F-35 program executive officer Lt. Gen. Michael Schmidt said in December. Advertisement"The F-35 [Joint Program Office], Lockheed Martin, and other industry partners have identified high risk concurrency in the F-35 Block 4 schedule, which would threaten to shut down aircraft production if development slips," he added. An Israeli Air Force F-35 Lightning II fighter aircraft flies over during an air show in Tel Aviv. For the air force, that means retiring and selling a variety of aircraft, such as F-4 jets, Mirage 2000-5 planes, and Block 30 F-16s.

Persons: —, of Defense Nikos Dendias, Dendias, Michael Schmidt, Lockheed Martin, Frank Kendall, JACK GUEZ, Jon Ludwigson, Ludwigson, Greece's Organizations: Service, Armed Forces, of Defense, Business, Air Force, Israeli Air Force, Getty, Office, Armed Force, US State Department Locations: Greece, Tel Aviv, AFP

☆ Lee Hoyang, Prolific K-Pop Producer and Songwriter, Dies at 40
▼ + stars: | 2024-02-25 | by ( John Yoon | More About John Yoon | ) www.nytimes.com time to read: +1 min

Lee Hoyang, a prolific producer and songwriter of South Korean pop music who was professionally known as Shinsadong Tiger and who helped create some of the biggest K-pop hits of the 2010s, died in Seoul on Friday. It did not mention the cause of death, but said that a private funeral was being held in Seoul. Mr. Lee was often credited with shaping the musical style that defined K-pop in the early 2010s: catchy, upbeat and repetitive with a strong hook. Among the hits were “Roly-Poly” and “Bo Peep Bo Peep,” both by T-ara; “NoNoNo” by Apink; and “Bubble Pop!” by HyunA. “He created an exciting, funky, beat-driven K-pop style that continues to be repeated over and over again,” said Do Heon Kim, a pop music critic in South Korea.

Persons: Lee Hoyang, Tiger, Lee’s, Lee, “ Bo Peep Bo Peep, ”, Heon Kim, hasn’t Organizations: TR Entertainment Locations: Korean, Seoul, South Korea

☆ I have Tourette syndrome. It took me 20 years to get a diagnosis.
▼ + stars: | 2024-02-22 | by ( Alton Northup | ) www.businessinsider.com time to read: +6 min

Tourette syndrome can't be cured, but I want to have more control over my tics. My tics started when I was a kidI started having tics around the age of 7. Despite these criteria, about half of children with Tourette syndrome go undiagnosed, according to the CDC. AdvertisementStress and anxiety can often make symptoms of Tourette syndrome worse, and college brought on a level of stress I hadn’t felt before. Most adults can inhibit that signal, but people with Tourette syndrome cannot.

Persons: —, I’m, “ Let’s, “, ”, Tourette Organizations: Service, American Psychiatric Association, CDC Locations: Boston

☆ Bank of Canada says rates may now be at peak, excess demand now gone
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. The Bank of Canada (BoC) - seeking to control soaring inflation - hiked rates 10 times between March of last year and July 2023, pushing them up to a 22-year high of 5.00%. "Higher interest rates are squeezing many Canadians, but these rates are relieving price pressures," Macklem said. "To return to low inflation and stable growth in the years ahead, we need these higher interest rates and slow growth in the short term," he added. Some 60% of mortgage holders have yet to renew their home loans at higher rates, the BoC says.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Macklem, David Ljunggren Organizations: Bank of Canada, REUTERS, BoC, Saint, Saint John Region Chamber of Commerce, CBC, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Saint John, Atlantic, New Brunswick, Reuters Ottawa

☆ Bank of Canada: era of very low rates is likely over, people and firms must adjust
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Senior Deputy Governor of the Bank of Canada Carolyn Rogers takes part in a news conference, announcing an interest rate decision in Ottawa, Ontario, Canada January 25, 2023. Rogers said she wanted "to stress the importance of adjusting proactively to a future where interest rates may be higher than they've been over the past 15 years". The bank increased rates 10 times between March 2022 and this July to tame inflation that peaked at more than 8% last year. However, economists expect the central bank to start easing interest rates as soon as April and money markets see them coming down around mid-year. (Reporting by Steve Scherer, editing by David Ljunggren)((Reuters Ottawa bureau, david.ljunggren@tr.com))Keywords: CANADA CENBANK/Our Standards: The Thomson Reuters Trust Principles.

Persons: Bank of Canada Carolyn Rogers, Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Carolyn Rogers, Advocis, Rogers, they've, David Ljunggren Organizations: Bank of Canada, REUTERS, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Ukraine, Israel, Advocis Vancouver, West Coast, Reuters Ottawa

☆ Some Bank of Canada governors saw likely need for higher rates - minutes
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. "Some members felt that it was more likely than not that the policy rate would need to increase further to return inflation to target," the minutes read. The minutes went on to say that the council decided to be "patient" and leave rates on hold. "They agreed to revisit the need for a higher policy rate at future decisions with the benefit of more information," the minutes said. The bank increased rates 10 times between March 2022 and this July, with inflation peaking at more than 8% last year.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Macklem, David Ljunggren Organizations: Bank of Canada, REUTERS, Bank of Canada's, BoC, CBC, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Reuters Ottawa

☆ Bank of Canada leaves rates on hold, sees weak growth and stubborn inflation
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. The bank increased rates 10 times between March 2022 and this July, with inflation peaking at more than 8% last year. Inflation in September dipped to 3.8% from 4.0% in August, and the central bank said it would average 3.5% through mid-2024. "There is growing evidence that past interest rate increases are dampening economic activity and relieving price pressures," the Bank of Canada (BoC) said in a statement. In July, the BoC forecast third-quarter annualized growth of 1.5%.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, David Ljunggren Organizations: Bank of Canada, REUTERS, Wednesday, BoC, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Israel, Gaza, Reuters Ottawa

☆ Canada annual inflation rate edges down to 3.8% in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

People pay for their items at a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada's annual inflation rate edged down to 3.8% in September on broad-based price reductions for some travel-related services, durable goods and groceries, Statistics Canada said on Tuesday. This beat analysts' expectations for annual inflation to remain at 4.0%. Percent changesMonth-on-month Year-on-yearSep Aug Sep AugCPI - all items -0.1 +0.4 +3.8 +4.0CPI - common n/a n/a +4.4 +4.8CPI - median n/a n/a +3.8 +4.1CPI - trim n/a n/a +3.7 +3.9Bank of Canada core -0.1 +0.1 +2.8 +3.3All items ex food/energy -0.1 +0.2 +3.2 +3.6Goods -0.3 +0.6 +3.6 +3.7Services 0.0 +0.1 +3.9 +4.3Energy -1.0 +3.7 +5.4 +1.8Seasonally adjusted +0.2 +0.6 n/a n/aCore CPI, SA -0.1 +0.3 n/a n/aNOTE: Analysts in a Reuters survey had forecast September CPI to be 4.0% annualized, and to be up 0.1% on the month. (Reporting by Dale Smith; Editing by Ismail Shakil)((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/INFLATIONOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Osorio, Dale Smith, Ismail Shakil Organizations: REUTERS, Rights OTTAWA, Statistics, of Canada, CPI, SA, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada

☆ Canadians firms see inflation easing, sluggish demand - central bank survey
▼ + stars: | 2023-10-16 | by ( Steve Scherer | David Ljunggren | ) www.reuters.com time to read: +3 min

FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. About a third expect a recession over the coming year, the same level as the previous quarter, the survey said. Some 27% of businesses see it taking more than three years to bring inflation down to 2%, down from 32% the previous quarter, the central bank said. Some 53% of businesses see inflation remaining above 3% over the next two years, compared with 64% the previous quarter. A separate Bank of Canada survey showed consumers’ inflation expectations for the next year eased slightly, though they remained at more than 5%.

Persons: Blair Gable, “, Steve Scherer, David Ljunggren Organizations: OTTAWA, Bank of Canada, REUTERS, ” Bank of Canada, of Canada, Consumers, “ Firms, Reuters Locations: Ottawa , Ontario, Canada, Reuters Ottawa

☆ Bank of Canada says economy is not heading for a 'serious recession'
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Oct 13 (Reuters) - Bank of Canada Governor Tiff Macklem on Friday said the economy is not heading for a "serious recession" and that he is looking for a clear sign underlying inflation is easing ahead of a rate decision on Oct 25. "We're not going to be forecasting a serious recession," Macklem told reporters in a call from Marrakech, Morocco, where he was attending an IMF meeting. Macklem said the bank would be weighing whether to let previous rate hikes work through the economy or raise rates again to counter sticky inflation. "What we're looking for are clear signs that core inflation, underlying inflation, those pressures are easing and inflation is going to be coming down," Macklem said.

Persons: Blair Gable, We're, Macklem, Steve Scherer, David Ljunggren Organizations: Bank of Canada, REUTERS, Rights OTTAWA, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Marrakech, Morocco, Reuters Ottawa

DETROIT (AP) — Ford Motor Co. said Monday that it's pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively. The move comes as the company is in the midst of national contract talks with the United Auto Workers union, which wants to represent workers at battery factories and win them top wages. In February, Ford announced plans to build the plant in Marshall, Michigan, employing about 2,500 workers to make lower-cost batteries for a variety of new and existing vehicles. But Ford spokesman TR Reid confirmed Monday that plant construction has been paused and spending has been limited on it. Earlier this year Virginia dropped out of the race for the same Ford plant after Republican Gov.

Persons: —, Ford, Marshall, TR Reid, ”, Shawn Fain, Sarah Lightner, Ford “, “, ” Lightner, Sam Abuelsamid, Abuelsamid, Biden, Glenn Youngkin, Joey Cappelletti, David Koenig Organizations: DETROIT, — Ford Motor, United Auto Workers union, UAW, Ford, Detroit, General Motors, EV, Amperex Technology, . Ltd, Republican State Rep, Guidehouse, Republican Gov, Chinese Communist Party, ____ Associated Press Locations: Michigan, Marshall , Michigan, Detroit, Marshall, China, U.S, Virginia, Lansing , Michigan, Dallas

☆ Bank of Canada struck intentionally hawkish tone after last rate decision, minutes show
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. The Bank of Canada (BoC) kept its key rate at 5% on Sept 6, noting the economy had entered a period of weaker growth, but said it could hike again should price pressures persist. The hawkish tone struck by the BoC since the latest rate decision was intentional, according to the minutes, or summary of deliberations, of the six Governing Council members. They "considered the possibility that their decision could be misinterpreted as a sign that policy tightening had ended and that lower interest rates would follow," the summary read. It continued: "They agreed that they did not want to raise expectations of a near-term reduction in interest rates, given that they only considered keeping the policy rate where it is or raising it further."

Persons: Chris Wattie, Steve Scherer, David Ljunggren OTTAWA, Sharon Kozicki, David Ljunggren Organizations: Bank of Canada, REUTERS, The Bank of Canada, BoC, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Reuters Ottawa

☆ Bank of Canada: Underlying inflation is inconsistent with 2% target
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsBy Steve Scherer and David LjunggrenOTTAWA, Sept 19 (Reuters) - The Bank of Canada on Tuesday said recent volatility in headline inflation is not unusual but the underlying trend shown by core measures was inconsistent with bringing inflation down to the 2% target. "(They) are one reason why we look at measures of core inflation - which exclude components with more volatile price movements - to get a sense of what underlying inflation is." One of those core measures, CPI-trim - which leaves out spiking mortgage interest costs - has been between 3.5%-4% in recent months. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," Kozicki said.

Persons: Chris Wattie, Steve Scherer, David Ljunggren OTTAWA, Sharon Kozicki, Kozicki, Macklem, David Ljunggren Organizations: Bank of Canada, REUTERS, University of Regina, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Saskatchewan, Reuters Ottawa

☆ The global treasures in the running for UNESCO’s World Heritage status
▼ + stars: | 2023-09-15 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +9 min

This year, the UNESCO World Heritage Committee is reviewing nominations from both 2022 and 2023, with participants from across the world attending the session in Riyadh, Saudi Arabia to examine almost 50 contenders. According to UNESCO, sites must be of “outstanding universal value” to be included on the World Heritage List. So far, the World Heritage Committee has inscribed approximately 1,157 sites in 167 different countries onto the World Heritage List. Seo Heun Kang/UNESCO World Heritage Nomination OfficeOnly those countries that sign the convention creating the World Heritage Committee and list are permitted to nominate sites. Gordion, the capital city of ancient Phrygia in Ankara, Turkey, is also nominated for a place on the UNESCO World Heritage List.

Persons: John E, Seo Heun Kang, Bale, Gordion, Mustafa Ciftci, Midas, Morten Rasmussen, Sarah Langrand, Dominique Marck, Bani Ma’arid, Bani Ma'arid, Hamad Al Qahtani, Koh Ker, Mount Pelée, Canada Bale, Francesca Street Organizations: CNN, UNESCO, United Nations Educational, Cultural Organization, UNESCO World Heritage, Heritage, World, Anadolu Agency, Danish Agency for Culture, Fine Arts Department, de Nîmes, National Center for Wildlife, Architectural Museum, Kazan Federal University, Khinalig, Tunisia ESMA Museum, Clandestine Center of Detention, Wooden Posts, Greece Historic Center of Guimarães Locations: Gaya, Denmark, Thai, Ohio, Riyadh, Saudi Arabia, Hancock, United States, Goryeong, South Korea, Addis Ababa, Phrygia, Turkey, Ankara, B.C.E, Madagascar, Si Thep, Thailand, Si, Nîmes, France, Gorokhovets, Russia, Vladimir Oblast, Erfurt, Germany, Cambodia, Khmer, Courland, Latvia, Kaunas, Lithuania, Ab’aj, Guatemala, India, Karakum, Tajikistan, Menorca, Spain, Ethiopia, Iran, Klondike, Canada, Czech, Odzala, Kokoua, Congo, Mount, Northern Martinique, Benin Ha Long, Ba Archipelago, Vietnam, Forests, Azerbaijan, Jericho, Palestinian Territories, Kazan, Tunisia, Argentina, Belgium, Suriname Royal, Netherlands, Anatolia, Bisesero, Rwanda, Yogyakarta, Indonesia, Masouleh, Turan, Kazakhstan, Turkmenistan, Uzbekistan, Northern Apennines, Italy, Tajikistan Highlands, Mongolian, Mongolia, Greece, Portugal

☆ Bank of Canada says interest rates may not be high enough
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. REUTERS/Blair Gable/File Photo Acquire Licensing RightsBy Steve Scherer and David LjunggrenOTTAWA, Sept 7 (Reuters) - Bank of Canada Governor Tiff Macklem on Thursday said interest rates may not be high enough to bring inflation back down to target, sending a hawkish message after holding borrowing costs at a 22-year high a day earlier. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation. "We don't want to raise our policy rate more than we have to," Macklem said, adding that persistently high inflation would be worse for Canadians than high borrowing costs. (Reporting by Steve Scherer, editing by David Ljunggren)((Reuters Ottawa bureau, david.ljunggren@tr.com))Keywords: CANADA CENBANK/Our Standards: The Thomson Reuters Trust Principles.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Macklem, Chrystia Freeland, David Ljunggren Organizations: Canada, REUTERS, Bank of Canada, BoC, federal, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Calgary , Alberta, Reuters Ottawa

☆ Lockheed Martin trims F-35 jet delivery outlook
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A Lockheed Martin F-35 fighter jet performs a flying display at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 20, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsSept 6 (Reuters) - U.S. weapons maker Lockheed Martin (LMT.N) on Wednesday cut its delivery outlook for its F-35 jets, and delayed deliveries of its updated Technology Refresh 3 (TR-3) jets. Bethesda, Maryland-based Lockheed added it expects to deliver its first TR-3 jet between April and June next year. The Pentagon had also delayed final delivery acceptance for F-35 jets, leading to a payment delay of about $7 million per jet. In July, the defense contractor had said completion of the software integration testing would likely cause delays to its TR-3 jet.

Persons: Lockheed Martin, Benoit Tessier, Nathan Gomes, Krishna Chandra Organizations: Lockheed, Paris, REUTERS, Pentagon, Thomson Locations: Le Bourget, Paris, France, Bethesda , Maryland, Bengaluru

☆ Bank of Canada holds rates, says it could hike further if inflation persists
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. "Governing Council remains concerned about the persistence of underlying inflationary pressures, and is prepared to increase the policy interest rate further if needed." Liberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday.

Persons: Blair Gable, Steve Scherer, David Ljunggren OTTAWA, Justin Trudeau's, Pierre Poilievre, David Ljunggren Organizations: Canada, REUTERS, Bank of Canada, Wednesday, Governing, of Canada, BoC, Liberal, Conservative, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Reuters Ottawa

☆ Special counsel continues to schedule witness interviews even as potential Trump indictment loomsSpecial counsel continues to schedule witness interviews even as he moves closer to another possible Tr
▼ + stars: | 2023-07-20 | by ( Paula Reid Katelyn Polantz Kara Scannell Hannah Rabinowitz Jeremy Herb | Paula Reid | Katelyn Polantz | ) edition.cnn.com time to read: +4 min

On Thursday, Trump aide Will Russell testified to the grand jury investigating the 2020 election aftermath, including the January 6, 2021, attack on the US Capitol. But Smith’s office has continued to investigate the handling of classified material after Trump’s presidency ended, with inquiries of witnesses and grand jury activity. The letter, first reported by ABC News, indicates prosecutors are exploring possible false statement charges related to the employee’s grand jury testimony. Trump also was indicted in late March by a Manhattan grand jury in connection with an alleged hush-money scheme. The special counsel’s office is seeking Kerik’s communications around the 2020 election, a source familiar with the matter told CNN.

Persons: Donald Trump, Trump, Jack Smith, won’t, Bernie Kerik, indicting Trump, It’s, Smith, Will Russell, Stan Woodward, Woodward, Trevor McFadden, Walt Nauta, Lago, Kerik, Rudy Giuliani, Timothy Parlatore, CNN’s Kaitlan Collins Organizations: CNN, Trump, Former New York, Trump Organization, Mar, ABC News Locations: Former New York City, Manhattan

☆ Canadian firms see labor market pressure easing, near-term inflation slowing
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

By Steve SchererOTTAWA, June 30 (Reuters) - Canadian businesses see labor pressures easing and expect short-term inflation to edge down, the Bank of Canada said on Friday in a second quarter survey, but fewer firms expect an outright recession over the next year than three months ago. More businesses still expect wage growth over the next year, but the second-quarter number is a third of what it was a year ago. An increasing number of firms see both their input costs and the prices of what they sell declining over the next year. "Although labor shortages remain common in some sectors, pressures on the labor market are easing due to decreased competition for workers and increased labor supply," the report said. "Firms expect growth in their wages to moderate from high levels."

Persons: Steve Scherer OTTAWA, Steve Scherer, Ismail Shakil Organizations: Bank of Canada, BoC, Thomson

☆ Canada annual inflation rate slows to 3.4% in May
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, June 27 (Reuters) - Canada's annual inflation rate slowed to 3.4% in May on lower prices for gasoline as a result of the base-year effect, while mortgage interest costs remain high, Statistics Canada said on Tuesday. This was in line with what analysts polled by Reuters had expected, down from 4.4% in April. Percent changesMonth-on-month Year-on-yearMay Apr May AprCPI - all items +0.4 +0.7 +3.4 +4.4CPI - common n/a n/a +5.2 +5.7CPI - median n/a n/a +3.9 +4.3CPI - trim n/a n/a +3.8 +4.2Bank of Canada core +0.4 +0.5 +3.7 +4.1All items ex food/energy +0.4 +0.5 +4.0 +4.4Goods +0.1 +0.8 +2.1 +4.0Services +0.5 +0.5 +4.6 +4.8Energy -0.8 +3.4 -12.4 -4.2Seasonally adjusted +0.1 +0.5 n/a n/aCore CPI, SA +0.2 +0.5 n/a n/aNOTE: Analysts in a Reuters survey had on average forecast May CPI to be 3.4% annualized, and to be up 0.5% on the month. They also forecast Bank of Canada Core to be 3.9% year-on-year. (Reporting by Dale Smith; Editing by Ismail Shakil)((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/INFLATIONOur Standards: The Thomson Reuters Trust Principles.

Persons: Dale Smith, Ismail Shakil Organizations: OTTAWA, Statistics, Reuters, of Canada, CPI, SA, Canada, Thomson Locations: Statistics Canada

☆ Bank of Canada to gauge need for further rate hikes based on data - minutes
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

On June 7 the central bank, which had been on hold since January, raised its overnight rate to 4.75%. The governing council discussed whether or not it should signal a rate increase and then execute it in July, but decided that there was enough data to act immediately, the minutes said. The council then agreed to "assess the need for further policy rate increases based on the incoming data", the minutes said. The governing council said it expected that second quarter growth would outpace the 1% annualized pace it forecast in April, according to the minutes. "Governing Council agreed that the economy remained clearly in excess demand and that the rebalancing of supply and demand was likely to take longer than previously expected", the minutes said.

Persons: Steve Scherer, David Ljunggren OTTAWA, David Ljunggren Organizations: Bank of Canada, Thomson Locations: Canada

☆ Bank of Canada hiked rates over alarm at household spending, stubborn inflation
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

By Steve Scherer and David LjunggrenOTTAWA, June 8 (Reuters) - Surprisingly strong household spending in the first quarter and stubbornly high core inflation were among the top reasons the Bank of Canada hiked rates after a four-month pause, a senior official said on Thursday. The Bank of Canada (BoC) on Wednesday hiked its overnight rate to a 22-year high of 4.75%, and markets and analysts forecast yet another increase next month after the policy announcement declared monetary policy was not sufficiently restrictive. Speaking to business executives in Vancouver in the BoC's first remarks since raising rates, Beaudry singled out unexpectedly strong household spending, a rebound in the housing market, a tight labor market, and sticky core inflation as the main factors behind the latest move. Core inflation measures "seem to have lost their downward momentum", he said. There is a greater risk of higher rates in the future, so "it's important to think ahead", Beaudry said, and "be better prepared in the eventuality that we have entered a new era of structurally higher interest rates".

Persons: Steve Scherer, David Ljunggren OTTAWA, Paul Beaudry, Beaudry, David Ljunggren Organizations: Bank of Canada, Wednesday, BoC, Reuters, Thomson Locations: Vancouver, Reuters Ottawa

☆ The CEO of a $900 million asset manager shares 6 stocks to buy to take advantage of the coming AI revolution — and explains how investors can diversify their holdings to capitalize on emerging tech tr
▼ + stars: | 2023-05-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

She also oversees the Defiance Quantum ETF (QTUM), which invests in quantum computing and machine learning companies. "They're clear leaders and no matter what happens, they'll invest in artificial intelligence, data pricing, machine learning, and quantum computing," she explained. "But even if that happens, you're still okay because you have the high-quality tech companies to hedge your basket … We look at it as balance plus opportunity." Besides the Defiance Quantum ETF (QTUM), other options include Global X Robotics & Artificial Intelligence ETF (BOTZ), the ALPS Disruptive Technologies ETF (DTEC), and the iShares Robotics and Artificial Intelligence Multisector ETF (ITRBO). Amazon (AMZN) is another stock that has been propelled higher thanks to its web services and machine learning division.

☆ Bank of Canada says rates may have to remain restrictive for longer
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: 1 min

OTTAWA, April 12 (Reuters) - Interest rates in Canada may have to stay restrictive for longer to ensure inflation declines to the Bank of Canada's 2% target, Governor Tiff Macklem said on Wednesday. Macklem, speaking after the bank announced that it was holding its key rate at 4.50%, said the central bank's governing council had discussed whether rates had been raised enough. Macklem said that while the bank was encouraged inflation was dropping, the job of monetary policy was not done. "We considered the likelihood that the policy rate may need to remain restrictive for longer to return inflation to the 2% target," he said. (Reporting by David Ljunggren, editing by Steve Scherer)((Reuters Ottawa bureau, david.ljunggren@tr.com))Keywords: CANADA CENBANK/MACKLEMOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Canada sees stronger 2023 growth, indicates recession risk has shrunk
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, April 12 (Reuters) - The Bank of Canada on Wednesday increased its 2023 growth forecast to 1.4%, up from the 1.0% it predicted in January, and indicated it saw less risk of a recession this year. The bank said annualised growth would hit 2.3% in the first quarter before averaging less than 1.0% for the rest of 2023. The bank dropped language saying the chances of a couple of quarters with slightly negative growth were the roughly the same as a couple of quarters with slightly positive growth. The bank cut the 2024 growth forecast to 1.3% from 1.8% in January and said the economy would expand by 2.5% in 2025. (Reporting by Steve Scherer and David Ljunggren)((Reuters Ottawa bureau; david.ljunggren@tr.com))Keywords: CANADA CENBANK/FORECASTSOur Standards: The Thomson Reuters Trust Principles.

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