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☆ Canada's unprecedented housing crisis could be a warning sign for the US
▼ + stars: | 2023-11-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

The country is also almost certainly heading towards a recession — if it's not already in one — and the housing market is partly to blame, economists say. But immigration is just one of many factors at play — Canada's housing crisis far preceded the rise in immigration. Stillo believes Canada's housing bubble has been slowly "deflating" for the last 18 months, despite an upswing in prices earlier this year. But there isn't consensus on if and when Canada's housing bubble will burst — or even if there is a bubble. While housing prices have flattened recently as demand softens, he says they show no sign of significantly declining.

Persons: —, it's, Mosche Lander, haven't, Mike Moffat, Tony Stillo, Moffat, Lander, Stillo, they're Organizations: Service, Concordia University, Smart Prosperity, University of Ottawa, US, Oxford Economics, America, Bloomberg Locations: Canada, Canadian

☆ Vivek Ramaswamy's campaign says he was 'talking quickly' and 'kind of oscillated in his words' after he appeared to call Zelenskyy a Nazi
▼ + stars: | 2023-11-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Vivek Ramaswamy's campaign said he did not intend to call Volodymyr Zelenskyy a Nazi. Instead, a spokesperson told The New York Times that the GOP presidential hopeful was "talking quickly." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "He was talking quickly and kind of oscillated in his words," spokesperson Tricia McLaughlin told The New York Times. Rota resigned after a massive outcry following reports about Hunka's Nazi ties.

Persons: Vivek Ramaswamy's, Volodymyr Zelenskyy, Ramaswamy, —, Vivek Ramaswamy, Tricia McLaughlin, McLaughlin, Zelenskyy, Anthony Rota, Yaroslav Hunka, Rota Organizations: New York Times, Service, GOP, Republican, Nazi, Zelenskyy's, Church, Politico, Associated Press, Canadian House Locations: Canada, Nazi, Ukrainian, Ukraine, Russia, Moscow

☆ VIEW Canada's annual inflation cools in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +4 min

TORONTO, 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%. "It's pretty clear that (the central bank) won't be raising rates in my opinion in October. I think if we had gotten another inflation print like August in September - that was the big risk to have another hike. DEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK"I think on a trend basis, the Bank of Canada is behind the inflation wage cycles.

Persons: CLAIRE FAN, MICHAEL GREENBERG, FRANKLIN TEMPLETON, JULES BOUDREAU, MACKENZIE, There's, They'll, DEREK HOLT, Divya Rajagopal, Steve Scherer, Fergal Smith, Denny Thomas Organizations: TORONTO, Statistics, ROYAL BANK, CANADA, Bank of Canada, Business Outlook Survey, ECONOMICS, SCOTIABANK, Thomson Locations: Statistics Canada

☆ Fact Check: Video shows Putin criticizing former Canadian speaker, not Trudeau
▼ + stars: | 2023-10-09 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A video showing Russian President Vladimir Putin criticizing former speaker of the Canadian House of Commons Anthony Rota for praising Yaroslav Hunka, a veteran who served in a Nazi unit during World War Two, has been cropped to falsely claim that Putin was insulting Canadian Prime Minister Justin Trudeau. “Justin Trudeau just got called an idiot by Vladimir Putin,” read a post on messaging platform X, formerly known as Twitter. The video shows Putin delivering his annual speech to the Moscow-based think tank Valdai Discussion Club in the Russian Black Sea resort of Sochi on Oct. 5. Putin called the Canadian parliament's standing ovations to honor Hunka "disgusting," and said it showed Moscow was right to "denazify" Ukraine, Reuters reported. Vladimir Putin insulted Anthony Rota, not Justin Trudeau.

Persons: Vladimir Putin, Anthony Rota, Yaroslav Hunka, Putin, Justin Trudeau, “ Justin Trudeau, ”, Hitler, Hunka, Rota, Volodymyr Zelenskiy, Trudeau, Read Organizations: Canadian, of, Nazi, Twitter, Canadian Nazi, Canada, Russia, Nazi Waffen SS, Reuters, Thomson Locations: Moscow, Russian, Sochi, Canada, Canadian, Ukraine

☆ Putin Calls Canadian Parliament's Applause of Nazi Veteran 'Disgusting'
▼ + stars: | 2023-10-05 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

MOSCOW (Reuters) - Russian President Vladimir Putin on Thursday called the Canadian parliament's standing ovations to honour a Ukrainian war veteran who served in one of Adolf Hitler's Waffen SS units "disgusting" and said it showed Moscow was right to "de-Nazify" Ukraine. Canadian Prime Minister Justin Trudeau last month formally apologised after the speaker of the Canadian House of Commons praised a Nazi veteran in the chamber while Ukrainian President Volodymyr Zelenskiy was present. The episode played into the narrative promoted by Putin that he sent his army into Ukraine last year to "demilitarise and denazify" the country. Kyiv and its Western allies say Russia's actions constitute an unprovoked war of aggression designed to grab territory. Ukrainian President Volodymyr Zelenskiy, who is Jewish, says Moscow's claims that his administration is run by Nazis are absurd.

Persons: Vladimir Putin, Adolf Hitler's Waffen, Justin Trudeau, Volodymyr Zelenskiy, Putin, Moscow's, Vladimir Soldatkin, Guy Faulconbridge, Alexander Marrow, Andrew Osborn Organizations: Adolf Hitler's Waffen SS, Canadian, Commons, Nazi Locations: MOSCOW, Ukrainian, Moscow, Ukraine, Kyiv

☆ Canada House Speaker resigns after celebrating Ukrainian veteran who fought for Nazi unit in World War II
▼ + stars: | 2023-09-26 | by ( Paula Newton | ) edition.cnn.com time to read: +3 min

Ottawa CNN —Speaker of the Canadian House of Commons Anthony Rota resigned his post Tuesday, days after he praised a Ukrainian veteran who fought for a Nazi military unit during World War II. “I accept full responsibility for my actions.”Rota’s recognition of Hunka last week prompted a standing ovation. Prime Minister Justin Trudeau has called the incident “deeply embarrassing.”The 14th Waffen Grenadier Division was part of the Nazi SS organization declared a criminal organization by the International Military Tribunal in Nuremberg in 1946, which determined the Nazi group had committed war crimes and crimes against humanity. Dave Chan/AFP via Getty ImagesRecognizing Hunka was “beyond outrageous,” B’nai Brith Canada CEO Michael Mostyn said, adding, “We cannot allow the whitewashing of history.”“Canadian soldiers fought and died to free the world from the evils of Nazi brutality,” he said. “No one – not even anyone among you, fellow parliamentarians, or from the Ukrainian delegation – was privy to my intention or my remarks prior to their delivery,” he said.

Persons: Anthony Rota, Volodymyr Zelensky, Rota, Yaroslav Hunka, “, Hunka, ” Rota, Justin Trudeau, ”, Dave Chan, Michael Mostyn, – Organizations: Ottawa CNN —, Canadian, of, Nazi, Ukrainian, Waffen Grenadier Division, ”, Liberal, Waffen Grenadier, Nazi SS, International, Getty Locations: Ukrainian, Canada, Poland, Nuremberg, Ottawa, AFP, “

☆ Miners, financials drag TSX index to three-week low
▼ + stars: | 2022-12-12 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. ET (1524 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 25.74 points, or 0.13%, at 19,921.33. The materials sector (.GSPTTMT), which includes miners of precious and base metals, shed 0.7% as gold prices trickled lower. The U.S. central bank is expected to deliver a half-percentage-point rate hike, along with The European Central Bank and the Bank of England, who are expected to raise their lending rates later in the week. Including Monday's trading, the TSX is down 6% year-to-date, outperforming the U.S. benchmark S&P 500 index (.SPX), which has lost more than 17% this year.

☆ Canadian regulator raises banks' domestic stability buffer to 3%
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Dec 8 (Reuters) - The amount of capital that Canada's biggest lenders must hold as a stability buffer will rise to 3.00% from 2.50% of risk-weighted assets on Feb.1 in response to increased economic uncertainty, the country's financial regulator said on Thursday. The Office of the Superintendent of Financial Institutions (OSFI) said persistent inflation and rising interest rates along with political tensions had exacerbated vulnerabilities. "Systemic vulnerabilities remain elevated – with some, namely Canadian household indebtedness and asset imbalances, edging upwards – as well as the results of recent stress tests," it said in a statement. An OSFI review had shown that the buffer continued to serve to ensure "both systemic stability and the resiliency of D-SIBs (domestic systemically important banks)," OSFI's Chief Risk and Strategy Officer Angie Radiskovic said in the statement. Reporting by Ismail Shakil in OttawaOur Standards: The Thomson Reuters Trust Principles.

☆ Canada house prices to tumble 17.5% peak to trough, say analysts: Reuters Poll
▼ + stars: | 2022-11-24 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

House prices need to fall 25% from peak to trough in order to make them affordable, according to the median response to an additional question. (Reuters Poll - Canada housing market outlook: )That was in line with BoC Senior Deputy Governor Carolyn Rogers who said this week house prices needed to fall to restore balance to the housing market. A majority of property market experts said the risk of a crash in house prices was low. During the financial crisis, U.S. house prices crashed as much as around 40% but the Canadian market fell only 9% then. “In more ‘normal’ times before the pandemic, a 30% drop in house prices would be considered a crash.

☆ Canada house prices to tumble 17.5% peak to trough, say analysts
▼ + stars: | 2022-11-24 | by ( Indradip Ghosh | Gabriel Araujo | ) www.reuters.com time to read: +4 min

House prices need to fall 25% from peak to trough in order to make them affordable, according to the median response to an additional question. Reuters Poll - Canada housing market outlookThat was in line with BoC Senior Deputy Governor Carolyn Rogers who said this week house prices needed to fall to restore balance to the housing market. A majority of property market experts said the risk of a crash in house prices was low. During the financial crisis, U.S. house prices crashed as much as around 40% but the Canadian market fell only 9% then. "In more 'normal' times before the pandemic, a 30% drop in house prices would be considered a crash.

☆ Analysis: Loonie bulls reel as Bank of Canada trails Fed on terminal rate bets
▼ + stars: | 2022-09-27 | by ( Fergal Smith | ) www.reuters.com time to read: +4 min

A Canadian dollar coin, commonly called a "loonie," and an American dollar bill are seen in this staged photo in Toronto, March 17, 2010. ,A lower terminal rate for the BoC than the Fed is not uncommon, but it threatens to pour cold water on Canadian dollar bulls' expectations that interest rate differentials would help underpin the currency over the coming year. The Canadian dollar has weakened 7.5% against the greenback since the start of the year. Canada's housing market has slowed rapidly in recent months, while its share of the economy, at 9%, is nearly twice that of the U.S. housing market. "Canada's economy is simply more interest rate sensitive than the U.S. economy," said Royce Mendes, managing director and head of macro strategy at Desjardins.

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