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Kelsey Johnson

Canada GDP in April fell a record 11% as COVID-19 shutters economy

29 May 2020

OTTAWA Canada's growth in April plunged a record 11% from March as businesses shut down to fight the coronavirus, Statistics Canada said in a flash estimate on Friday, and analysts said it was unclear how quickly the economy would recover.

Canada housing market may start recovery from virus impact by mid-2021: CMHC

27 May 2020

OTTAWA Canadian housing starts, sales and prices are expected to start to recover by mid-2021 as the coronavirus pandemic recedes, but the precise timing and duration of that rebound is highly uncertain, Canada's national housing agency said on Wednesday.

UPDATE 1-Canada building permits slump 17.1% in April

27 May 2020

OTTAWA, May 27 The value of Canadian building permits slumped by 17.1% in April, the largest decline recorded since October 2008, Statistics Canada said on Wednesday, as the coronavirus pandemic caused officials to shutter non-essential construction in parts of Canada.

No movies, no malls: Canada's cities find new ways to beat the heat in pandemic

26 May 2020

OTTAWA Canadian cities are opening air-conditioned recreation centers and libraries on Tuesday to allow people to cool off during a heat wave at a time when the coronavirus pandemic has shut down public swimming pools, shopping malls, movie theaters and other places that normally offer relief.

Bank of Canada head: inflation could return to target more slowly

25 May 2020

OTTAWA The Bank of Canada's policy framework is flexible enough to allow the inflation rate to climb back up to the bank's 2% target more slowly than on average, Governor Stephen Poloz said on Monday.

Canadian retail sales plunge record 10% in March, led by car sales

22 May 2020

OTTAWA Canadian retail sales plunged a record 10% in March as officials shuttered many non-essential businesses to slow the spread of the coronavirus pandemic, Statistics Canada said on Friday, and it said April data could post an even sharper decline.

Bank of Canada governor says interest rates will probably stay low

21 May 2020

OTTAWA Bank of Canada Governor Stephen Poloz said on Thursday that interest rates were probably going to stay low and that the damage done by the coronavirus outbreak might not be as bad as some fear.

Bank of Canada says downward pressure on inflation likely once shutdown ends

20 May 2020

OTTAWA The Bank of Canada thinks there is likely to be downward pressure on inflation once coronavirus-related shutdowns are lifted, a senior official said on Wednesday, a sign the Bank is in no rush to raise near-record low interest rates.

Canada's annual inflation rate goes negative, but food prices rise

20 May 2020

OTTAWA Canada's annual inflation rate fell by 0.2% in April, the first time it has turned negative since 2009, as the coronavirus pandemic slashed energy prices, but the headline figure obscured rising costs of some foods.

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