Canada ‘enthusiastic rebound’ best in G7, OECD says
A global economic forecasting group says Canadian economic growth will outpace that of other G7 nations by a wide margin during the first half of 2010. The Paris-based Organization for Economic Development and Co-operation is forecasting that Canada’s economy grew 6.2 per cent in the first quarter, well ahead of the 1.9 per cent overall […]
Dollar continues to hover near par
The Canadian dollar continued to straddle parity with the U.S. currency Wednesday. Shortly after 10 am E.T., the loonie was trading at 99.97 cents U.S., up .09 of a cent from Tuesday’s close. It rose as high as 100.03 cents US earlier Wednesday, a day after it moved above parity with the greenback for the […]
Canada Targets Asylum Laws
Canada’s immigration minister proposed sweeping changes to the country’s asylum legislation on Tuesday, aiming to help clear a multiyear backlog in processing refugee applications and stem a recent inrush of claimants. The overhaul would address an asylum system considered one of the fairest and most generous in the world—but that is now clogged by cases […]
Visible minority population on the rise
A new report from Statistics Canada indicates that Canada’s visible minority population will soon be the majority in some cities. The report shows that in 20 years, about 30% of Canadians will be visible minorities and in Toronto and Vancouver, about two thirds of the population will be non-white. StatsCan says Calgary’s visible minority population […]
Economists boost growth forecasts
A string of stronger-than-expected reports are prompting some economists to revisit their forecasts for the strength of the recovery. Some are now pencilling in higher forecasts after recent reports showed strength in manufacturing and wholesale trade, while retail sales continue to climb. Bank of Montreal, for example, boosted its forecast for Canada’s first-quarter gross domestic […]
Canada’s prospects outshine realities challenging U.S.
Canadians have long tended to define themselves by what they are not: Americans. As Finance Minister Jim Flaherty prepares to deal with the fiscal cost of the recession, that distinction is taking on new meaning. Facing the biggest budget deficit since the Second World War and none of the spirit of political compromise necessary to […]