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Canadian Economic News

Another interest rate cut likely in June

TORONTO -- Canada`s primary securities dealers unanimously predicted on Thursday that the Bank of Canada will cut its key overnight rate in June, but after that most are calling for a pause in the easing cycle.

That is consistent with a Reuters poll taken last week after key inflation data and ahead of the Bank of Canada`s expected 50-basis-point rate cut Tuesday.

http://www.canada.com/vancouversun/news/bu...b1-c8aec67f93e0
 
Well, now it has begun. The announcement from the Bank of Canada foreseeing a flat but sluggish growth in the Canadaian Economy will probably be overblown and everyone will start to panic. I have been dabbling in the stock market and I know that when people get wind of something that may not be really good news, panic sets in and so does the selling.
I wonder if the same thing is going to happen to other aspects of the Canadian Economy i.e. housing prices. I`m wondering if the prices of housing will drop signifigantly when the average Joe listens to the media hype of how Canada may be headed for a possible recession. May be good news for buyers, but not for sellers.
Any thoughts?
 
Getting top value when selling your business

The best way for an owner of a small- to medium-sized business to prepare for the day when someone else will either inherit it or buy it is to leave key day-to-day decisions to staff.

Jean-Rene Halde, president and chief executive officer of the Business Development Bank of Canada (BDC), told a group of plumbing and heating service company owners that one of their goals should be to work themselves into a position where the business isn`t dependent on them to make decisions.

http://www.canada.com/saskatoonstarphoenix...40-dd7abc4cb68e
 
Condo lifestyle enhanced if you play by the rules

DALMENY -- When you visit George and Darlene Zwack in their new condominium, you quickly sense an aura of success surrounding the recently retired couple.

When George retired from his federal government job in Prince Albert more than four years ago, he and his wife had already done their homework when it came to planning future real estate needs.

http://www.canada.com/saskatoonstarphoenix...d0-c429a37204d0
 
Loonie a loser against euro as interest-rate gap widens

TORONTO - The Canadian dollar has gone from a star to a dog in the space of a few months to become the world`s worst-performing major currency.

This may come as a surprise to some, particularly with the loonie holding near parity with its main trading partner, the U.S. dollar.

http://www.canada.com/edmontonjournal/news...77-d6f36dbd3fde
 
Advice helps to fight mould within homes

Mould growing inside the home can pose a serious health risk, especially if you or anyone in your family suffers from asthma or allergies.

But as long as you know where to look, what to look for and how to prevent or clean up mould, you should be able to keep any potential mould problems in your home under control.

To help you keep your house and family healthy, Canada Mortgage and Housing Corp. offers the following tips on how to find, identify and fight mould in your home:

http://www.canada.com/calgaryherald/news/n...f9-799dac5f958e
 
Light bulb rules may push prices up

OTTAWA -- Canadians could pay more for light bulbs and may not even have access to certain types of lights because of a worldwide shortage when new national light bulb efficiency standards come into effect in 2012.

In documents obtained through Access to Information, those issues were raised by the lighting industry with the government because of Canada`s push to phase out inefficient light bulbs by 2012.

http://www.canada.com/saskatoonstarphoenix...fb-f693f643f17b
 
Aircraft boom boosting rare metals prices

LONDON -- The global trend towards more frequent air travel should keep planemakers busy and in turn ensure prices of rare and high-tech metals such as cobalt, rhenium and titanium stay strong for years.

Often mined in inaccessible and risky territories, these metals are prized for their exceptional strength and heat resistance, making them essential for jet engines and airframes.

http://www.canada.com/edmontonjournal/news...c8-1389dee2150f
 
Peace of mind can be worth the fees for a tax adviser

So who should prepare your tax return?

Ultimately, you are responsible for having your return filed with the Canada Revenue Agency no later than April 30. If you have a business that is not incorporated you have until June 15 to file a return (tax liability is still due by April 30).

You may be torn between doing your own tax return or hiring a professional.

http://www.canada.com/theprovince/news/mon...6f-cd098fdf28a3
 
`Uncharted waters` for mortgages: bank

OTTAWA -- Liberalization of the Canadian mortgage-insurance market and the advent of 40-year amortizations are driving the housing market into "uncharted waters" with unknown risks, according to a Scotiabank report released Monday.

Recent innovation in the Canadian mortgage market has been conservative and lacks the dangers of the U.S. subprime fiasco, said Derek Holt, the report`s author. Nevertheless, he warns, new approaches are "changing the longer-term risk dynamics in a way that gradually takes us toward a different mortgage market.

http://www.canada.com/saskatoonstarphoenix...64-6268b1ec0589
 
Steel futures debut in London

LONDON -- Steel futures began open outcry trading on the floor of the London Metal Exchange (LME) on Monday, taking the conservative US$800-billion industry into what many traders hope will be a new era.

Trading in steel billets started almost as soon as LME commercial director Liz Milan rang the bell to start the session on Europe`s last open outcry trading floor.

http://www.financialpost.com/trading_desk/....html?id=477875
 
Bank of Canada trying to get dollar down, think-tank says

The Bank of Canada will aggressively cut interest rates to bring down the Canadian dollar that is being held aloft by Canada`s relatively high interest rates and world oil prices, which hit a new record high of nearly $120 U.S. a barrel yesterday, a U.S.- based economic think-tank says.

http://www.canada.com/ottawacitizen/news/b...11-9560d7ee13ad
 
Federal surplus shrinks to $12.9B

OTTAWA - The federal government`s budget surplus is shrinking as expected, but 11 months into the fiscal year just ended it was still a surplus, and still in double-digits, at $12.9 billion.

And that still healthy surplus was despite a 7.6-per-cent surge in program spending over the 11 months compared with a year earlier.

http://www.canada.com/windsorstar/news/sto...9e-e5632a5cb8bc
 
Inflation`s on the rise, so pay down those debts now

The most important financial move you can make in the next six months is to get your debts under control.

Pay off your credit cards, pay down your line of credit, and if you`re buying a home, don`t max out on your mortgage payments. Tough times are coming and the people who get through them in the best shape will be the ones who aren`t siphoning a lot of their household income to pay off debt.

To understand what`s ahead, you have to look past the current economic environment into 2009 and 2010. Two themes to think about: rising inflation - we`re talking serious inflation here - and rising interest rate.

http://www.theglobeandmail.com/servlet/sto...ory/TPBusiness/
 
Xceed expects better days ahead
TORONTO -- A dramatically downsized Xceed Mortgage Corp. is expecting a return to "modest" profitability in the third quarter of 2008, chairman and chief executive officer Ivan Wahl said yesterday. The alternative lender`s business model has been devastated by the collapse of the market for the asset-backed commercial paper it relied on to fund uninsured mortgages for clients with shaky or unestablished credit histories.

Xceed lost $4.5-million in fiscal 2007, which ended Oct. 31, primarily due to a fourth-quarter writedown related to the credit market turmoil, compared with a year-earlier profit of $22-million.

http://www.theglobeandmail.com/servlet/sto...PStory/Business
 
Calgarian lost $13,000 to old scam

A Calgary man has regained thousands of dollars funnelled out of his account by a skimming scam, but his tale proves cautionary to people still not keeping an eagle eye on their finances, say police.

When Nathan Wick filled his truck with gas on the Labour Day weekend last year, a simple swipe of his debit card didn`t pay for the fuel.

http://www.canada.com/calgaryherald/news/c...e1-4a6104223c9a
 
Canada`s Best Places to Live

MoneySense magazine has come out with its annual list of Canada`s Best Places to Live. It ranked Canadian communities with a population greater than 10,000, crunching the numbers on everything from the weather, real estate values, income levels and unemployment rates to discretionary income, crime rates and signs of prosperity.


Here you can find the article and very usefull data about city of your interest.


http://list.canadianbusiness.com/rankings/...;d1=a&sc1=6
 
Extension granted for Netfile returns

OTTAWA -- A tax-filing deadline extension announced Wednesday will only apply to taxpayers whose efforts to file their returns over the Canada Revenue Agency Web site in recent days have been frustrated by technical obstacles, the tax collector says.

The regular deadline of midnight Wednesday remains in force for people who owe taxes or want to mail or drop off a paper return, according to the agency, and financial penalties could apply if the returns are late.

http://www.canada.com/reginaleaderpost/new...a7-38134df233b0
 
Canada edges closer to recession

OTTAWA -- Canada has edged closer to a recession, while the United States appears to have skirted one -- at least so far.

The Canadian economy shrank unexpectedly by 0.2 per cent in February, rather than expand by 0.2 per cent as many analysts had expected, as weakness in manufacturing deepened and broadened and spread to the wholesale sector, Statistics Canada reported yesterday.

http://www.canada.com/victoriatimescolonis...f2-267347b509c4
 
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