Jimmy Jean News
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Canadian employment rose in line with economist forecasts in April as manufacturers added the most jobs in 11 months, adding to evidence of a modest expansion.
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Bank of Canada Governor Mark Carney may water down his intention to raise interest rates today amid economic growth that has lagged forecasts.
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Quebec’s separatists will return to power for the first time in nine years, in an election marred by a fatal shooting at the Montreal nightclub where Parti Quebecois leader Pauline Marois was giving a victory speech.
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Reports of declines in Canada’s job market and exports underscore that the country’s economic recovery may be a slow one.
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Canada’s economy showed signs of strength today with gains in employment and housing, ending a week where the central bank delayed a plan to raise interest rates and the finance minister said slower growth is sapping revenue needed to curb deficits.
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Bank of Canada policy makers kept their key interest rate unchanged today and added language about a potential increase for the first time since September, saying they will raise rates “eventually” as the economy recovers.
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The Bank of Canada signaled it may seek to curb record household debt levels by raising interest rates for the first time in more than two years, sharpening the divide with other Group of Seven nations focused on easing policy to combat a cooling global economy.
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Bank of Canada Governor Mark Carney said the need to raise interest rates is less urgent because the economy will take longer to reach full output, keeping inflation below target until the second half of next year.
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Canada’s inflation rate unexpectedly quickened in January as prices increased for every category except for leisure products, led by groceries and fuel.
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Canada’s merchandise trade deficit narrowed more than economists forecast in August from the prior month’s record on the steepest decline in imports in more than three years.
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