Rudy Narvas News
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Canada’s annual inflation rate slowed in October for the first time in three months as energy prices cooled, while food costs increased.
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Canada’s economy lost the most jobs since the 2009 recession during October, led by declines in the manufacturing and construction industries, cementing projections that the recovery is slowing.
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Bank of Canada Governor Mark Carney and Prime Minister Stephen Harper will probably keep the central bank’s mandate of targeting inflation at 2 percent, rejecting alternatives, including the world’s first price-level objective, according to economists surveyed by Bloomberg News.
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The world’s largest economy may need its second miracle in 15 years as waning productivity growth sets the stage for slower income gains, fewer job opportunities and larger federal deficits in the U.S.
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Consumer spending in the U.S. probably slowed in August as growing pessimism and a lack of jobs restrained the biggest part of the economy, economists said before a report today.
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Canada’s inflation rate and retail sales were less than economists forecast, adding to evidence the central bank will delay raising borrowing costs for several months as the economy recovers.
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Canadian retail sales unexpectedly fell in July as consumers cut purchases of furniture, appliances and electronics.
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China, the biggest brake on global inflation for two decades, is embracing wage increases that threaten to erode retailers’ margins and demand for bonds.
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Canada’s annual inflation rate slowed for a second month in July as the impact of provincial sales tax increases faded and mortgage interest costs declined.
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The Bank of Canada sent a message in a box to economists such as Bill Robson, CEO of the C.D. Howe Institute, who say interest rates must rise quickly to levels that don’t stimulate growth because the country’s economy will soon complete its rebound from recession.
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