Canadian Prime Minister Stephen Harper is turning his government’s focus to consumer issues such as the cost of telephone and cable TV as he prepares to outline his agenda for the last two years of his mandate amid a slowdown in economic growth.
The Bank of Canada will probably keep its main interest rate unchanged for a seventh straight meeting today, as economic risks posed by indebted foreign governments outweigh concerns about quicker domestic inflation.
The gap between yields on Canadian 10-year bonds and comparable U.S. Treasuries, already at the widest in almost 1 1/2 years, may widen as the difference in interest-rates between the two countries increases.
Canadian long-term bond yields are falling to the lowest level in more than four years relative to U.S. Treasuries on speculation that inflation in the world’s 10th-largest economy will remain in check.
Atlantic superstorm Sandy may cut U.S. economic growth as it keeps millions of employees away from work and shuts businesses from restaurants to refineries in one of the nation’s most populated and productive regions.
Canada’s dollar reached parity with its U.S. counterpart for the first time since May as stocks and crude oil rallied after July payrolls in America, the nation’s biggest trading partner, rose more than forecast.