OTTAWA – Canada’s economy is becoming more solidly entrenched with the private sector beginning to play an increasingly pivotal role in leading the country out of recession, the Bank of Canada said today in its latest policy report. In a mildly upbeat assessment of the recovery, the central bank’s quarterly outlook contains some upward […]

Does my reno qualify for a tax credit? Bryant Renovations at a Leslieville home where they’re renovating the bathroom and replacing the flooring of the main floor. Fred Lum/The Globe and Mail With days until deadline, Canadians scramble to take advantage of the government’s home renovation tax credit  Roma Luciw  Globe and Mail With the […]

Retirement: Three magic numbers by David Aston, MoneySense MagazineMonday, January 18, 2010provided by Nothing is more frustrating than trying to figure out how much to save for retirement. You know the amount you’ll need to save depends on what kind of retirement lifestyle you want. But how can you decide that without having some idea […]

OTTAWA – The global recovery is under way but expansion of the Canadian economy remains dependent on government support and historically low interest rates, the Bank of Canada said today. As expected, the central bank again pledged to keep its trendsetting policy rate at the lowest practical level of 0.25 per cent until mid-2010, saying […]

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is […]

The Bank of Canada kept its benchmark lending rate at 0.25 per cent Tuesday, reiterating its conditional commitment to hold rates steady until the middle of 2010. Although it held the overnight lending rate steady, the bank did acknowledge that the recovery appears to be proceeding at a better pace than it was anticipating. “While […]

Jan. 18 (Bloomberg) — The Bank of Canada will probably keep its benchmark interest rate at a record low tomorrow and repeat a pledge to leave it unchanged through June. The target rate for overnight loans between commercial banks will remain at 0.25 percent, where it’s been since April, according to all 26 economists surveyed […]

TORONTO — Record home sales last month are based on low supply and high demand and are more likely to drop off this year than inflate a housing bubble that could threaten a fragile recovery, economists say. A Canadian Real Estate Association report released Friday said December and the 2009 fourth quarter were the best […]

OTTAWA — Canada believes time is running out for meaningful reforms to the world financial system to avert future economic meltdowns and will push for movement on the issue at next month’s G7 finance ministers meeting in Iqaluit. Canadian officials briefing reporters on what is likely to be the most unusual G7 meeting ever say […]

  By Joe McDonald  BEIJING — China took new steps Tuesday to control bank lending, ordering institutions to set aside more reserves in a move to avert a surge in credit that Beijing worries might fuel inflation or asset price bubbles. China’s nascent rebound from the global crisis was fuelled by a flood of lending […]