Is another recession on its way? Louis-Philippe Rochon Associate Professor, Laurentian University Co-editor, Review of Keynesian Economics Canada’s economy shrank in the first quarter by a whopping 0.6%. Is this the beginning of a new recession? Recessions of course are defined as two consecutive quarters of negative growth. Now
Continue readingTag: Bank of Canada
The Progressive Economics Forum: The central banker who talked too much
The central banker who talked too much Louis-Philippe Rochon Associate Professor of economics, Laurentian University Co-Editor, Review of Keynesian Economics On Tuesday, Governor of the Bank of Canada, Stephen Poloz testified in Ottawa in front of the House of Commons Standing Committee on Finance. He had a lot to
Continue readingThe Progressive Economics Forum: Bank of Canada Holds Rate Steady
The Bank of Canada released it’s quarterly Monetary Report today, and held rates firm at 3/4 per cent. The Bank cut growth expectations for 2015, but expects Canada’s GDP to rebound in 2016. Much of this rebound will depend on a growing U.S. and global economy, and on the ability of Canadian
Continue readingCowichan Conversations: Rocco Galati in court to challenge how Bank of Canada does business
Richard Hughes-Political Blogger The mysterious world of money, making it, printing it,spending it. There has been contrary views regarding the role of banks in controlling our money supply since the Bank of Canada stepped away from providing debt free money to cities, town and municipalities. Across the country, budgets are
Continue readingCowichan Conversations: Bank of Canada Court Case Won in Federal Court-Huge Ramifications Claimed
Richard Hughes-Political Blogger A great many Canadians have heard various rumblings about the wealth transfer scheme that kicked in shifting a great deal of control and profit from the Bank of Canada to the private banks. Money for nothing is a sense. There has been a fair amount of chatter floating about
Continue readingThe Progressive Economics Forum: ROCHON: Harper in closet over the economy as Canada heads toward another recession
This guest blog post has been written by Louis-Philippe Rochon. You can follow him on Twitter @Lprochon – Harper’s recent incarnation as an anti-terrorist crusader has caught many Canadians by surprise. Harper is spending considerable political energy beating the drums of war against terrorists, and introducing a far-reaching, and much
Continue readingThe Progressive Economics Forum: Rochon Asks: “Is the Canadian economy unraveling?”
In a recent CBC blog post, Louis-Philippe Rochon assesses the current state of the Canadian economy. The link to the blog post is here. Follow him on Twitter @Lprochon.
Continue readingThe Progressive Economics Forum: Rochon on the Bank of Canada’s Decision to Lower the Rate of Interest
Louis-Philippe Rochon—who now blogs for CBC—argues that almost nobody had been expecting the Bank of Canada’s recent decision to lower the rate of interest. His post can be found here. Follow him on Twitter @Lprochon.
Continue readingThe Progressive Economics Forum: Banks and Balanced Budgets
The Bank of Canada surprised most analysts this week when it decided to cut rates by 25 basis points. The move comes after the price of oil has tumbled below $50 / barrel, oil producers announced huge cuts to business investment for 2015, Target announced a mass layoff of 17,600
Continue readingThe Progressive Economics Forum: Low Oil Prices, Good or Bad for Canada?
Unless you’ve been hiding under a rock somewhere, you’re probably well aware that the price of oil has fallen dramatically, to less than $50 / barrel. What this means for Canada’s economic output & labour markets is not yet clear. But Stephen Poloz at the Bank of Canada has said that
Continue readingThe Progressive Economics Forum: Louis-Philippe Rochon’s Top 10 Economic Predictions for 2015
Louis-Philippe Rochon has written a provocative blog post for the CBC titled “Top 10 Economic Predictions for 2015.” The post is available here.
Continue readingThe Canadian Progressive: Canadians still demand female representation on banknotes
The call for more female representation in Canada remains loud and clear as an online petition demanding that the Bank of Canada include women on Canadian banknotes opens 2015 with more than 52,800 signatures. The post Canadians still demand female representation on banknotes appeared first on The Canadian Progressive.
Continue readingPolitics and its Discontents: The Mighty (Pol)Oz Speaks
But his message is not being well-received. No, not at all. Recommend this Post
Continue readingCowichan Conversations: Oil and Gas Investors Get Warning–Pension Funds at Risk
Blaise Salmon Thanks to Mark Carney, former governor of the Bank of Canada and current governor of the Bank of England, for his warning that the “vast majority” of the world’s oil and coal reserves will never be used due to advancing climate change. The value of these reserves is
Continue readingThe Progressive Economics Forum: Bank of Canada, Exports, and LMI
Much has been made about Stephen Poloz’s decision to abandon ‘forward guidance’ in Bank of Canada rate setting announcements for the time being. Critics bemoan the loss of direction from the Bank. But Poloz’s comments yesterday were chock full of guidance on how the Bank sees Canada’s economic situation. Having
Continue readingThe Progressive Economics Forum: The Odd Conversion of Mainstream Economists to the Virtues of Depreciation
The long-overdue depreciation of Canada’s currency is gathering steam. The dollar lost 8 cents against its U.S. counterpart, in fits and starts, over 2013. It’s lost another 2 cents since the start of 2014, and negative sentiment about the currency is accumulating among financial analysts and traders. Indeed, once the
Continue readingPolitical Eh-conomy: Myths of central banking
The Bank of Canada has been in the news lately – or, more precisely, the news has been full of other well-placed people telling our central bankers what to do. In an interview on CTV this past weekend, Jim Flaherty made comments (later retracted) that Canada’s central bank will be
Continue readingThe Progressive Economics Forum: A Trillion Dollar Coin for Canada?
Arun here…breaking radio silence to share with you a thought-provoking piece by Larry Kazdan, a graduate of York University in sociology and history, and currently a Council Member with the World Federalist Movement-Canada, an organization that monitors developments at the United Nations and advocates for more effective global governance. Our
Continue readingThe Progressive Economics Forum: Rebutting Raganomics
Today, I had the following commentary posted on The Globe and Mail’s Economy Lab: The loonie is overvalued and the Bank of Canada has room to act On Tuesday, Christopher Ragan characterized the notion of an overvalued Canadian dollar as a “seductive myth” that the Bank of Canada should not
Continue readingThe Progressive Economics Forum: Statistics Canada Resuscitates Dead Money
Interestingly, the day after the new Bank of Canada Governor gave a speech distancing himself from his predecessor’s “dead money” comments, Statistics Canada released a significant downward revision to the usual measure of corporate cash accumulation. The cash holdings of private non-financial corporations reached $594 billion in the fourth quarter
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