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Search resuls for: "Julie Gordon Steve Scherer"


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☆ Canada lays out cash but limits largesse on inflation fears
  + stars: | 2022-11-03 | by ( Julie Gordon Steve Scherer | Julie Gordon | Steve Scherer | ) www.reuters.com   time to read: +4 min
Inflation has edged down over the last three months to 6.9% in September from 8.1% in June. The fiscal update showed "significantly weaker growth" next year that previous forecast, but the baseline numbers did not foresee a recession. It also cut its deficit forecast for this fiscal year by almost a third to C$36.4 billion from the C$52.8 billion deficit forecast in April. The update also included a tax on corporate stock buybacks similar to a measure introduced by United States. The fiscal update document forecast Canada's debt-to-GDP ratio would be 42.3% in 2022/23, versus 45.1% forecast in April, falling to 37.3% in 2027/28.
☆ Bank of Canada to start releasing rate decision summaries next year
  + stars: | 2022-09-28 | by ( Julie Gordon Steve Scherer | Julie Gordon | Steve Scherer | ) www.reuters.com   time to read: +2 min
The "Summary of Deliberations," similar to meeting minutes released by other central banks, will be published roughly two weeks after each interest rate decision, starting with the Jan. 25 meeting, Canada's central bank said. The decision to release summaries comes as worries mount that the pace of rate increases - the central bank has lifted its policy rate by 300 basis points in six months - could lead to a recession. The IMF released its 98-page report on Wednesday, which followed a voluntary review with the Bank of Canada. The report included 10 recommendations, including that the bank publish summaries of its rate decisions and provide more transparency on its "bilateral collaborations" with government. The Bank of Canada said providing more information was not a "priority," in part because the bank has not intervened on the foreign exchange markets since 1998.
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