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Poloz signals delay in rate rise as economy struggles

Bank of Canada Governor Stephen Poloz is signalling that a move to raise interest rates will likely be delayed again as the Canadian economy struggles to gain traction.

Mr. Poloz acknowledged Tuesday that the central bank’s current projection that the economy will get back to full capacity near the end of 2017 may be too optimistic.

“It is quite evident that our economy is still facing strong headwinds, and we need stimulative monetary policy to counteract them and move us closer to full capacity,” Mr. Poloz said in remarks prepared for a speech to a group of economists in Quebec City.

To read full article please click on the link below:

http://www.theglobeandmail.com/report-on-business/economy/poloz-signals-delay-in-return-to-higher-rates-as-economy-struggles/article31964961/

Canadian hiring rebounds; ‘economic lethargy’ still a concern

Canada’s labour market bounced back in August with 26,000 new jobs, thanks to a surge in public sector hiring and new positions in Quebec and Ontario. But despite the gains, the country’s jobs market continued to show signs of strain.

The rebound follows a month where the economy shouldered huge losses in full time employment and the August rebound was not enough to offset the losses.

To read full article please click on the link below:

http://www.theglobeandmail.com/report-on-business/economy/jobs/canadian-economy-adds-26000-jobs-jobless-rate-edges-up/article31789609/

KKR: Fed to keep rate below 1% through at least 2020

The Fed will be staying lower for longer — a lot longer, in fact, if a forecast from a major private equity player is accurate.

With the market wondering whether the U.S. central bank will hike rates at its Sept. 20-21 meeting, private equity giant KKR believes those anticipating that the Fed will resume its tightening cycle anytime soon are misreading statements from Chair Janet Yellen and others.

To read full article please click on the link below:

http://www.cnbc.com/2016/09/08/private-equity-giant-kkr-says-the-fed-to-keep-funds-rate-below-1-percent-through-at-least-2020.html

Canadian economy has worst performance in 7 years in second quarter: StatsCan

OTTAWA — The Canadian economy shrivelled in the second quarter to its worst performance in seven years, Statistics Canada said Wednesday.

The federal agency said real gross domestic product fell at an annualized rate of 1.6 per cent in the three-month period, due in large part to the wildfires that destroyed parts of Fort McMurray, Alta. That’s the biggest quarterly decline since the second quarter of 2009 when Canada was in the midst of the global financial crisis.

To read full article please click on the link below:

http://www.cp24.com/news/canadian-economy-has-worst-performance-in-7-years-in-second-quarter-statscan-1.3052055

TSX, Wall St. rise as Yellen says case for rate hike stronger

The Toronto stock market and Wall Street were higher on Friday morning after Federal Reserve Chair Janet Yellen said the case for raising U.S. interest rates has strengthened in recent months.

To read full article please click on the link below:

http://www.theglobeandmail.com/globe-investor/inside-the-market/market-updates/tsx-wall-st-rises-as-yellen-says-case-for-rate-hike-stronger/article31571278/


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