Month: May 2016
Why Are People Taking So Much Money Out of China? China is experiencing the largest episode of capital flight in history, encouraged by the slowdown in economic activity, the plunge in the stock market and the surprise devaluation of the currency–the Chinese yuan (also called the renminbi) last August. Chinese businesses and consumers are moving money…
In a short but not-so-sweet missive, the Bank of Canada left its target overnight rate unchanged at 1/2 percent as expected. The Bank, however, sharply reduced its forecast for second quarter Canadian growth owing to the devastating wildfires in Alberta. The Bank’s economists estimate that the fire-related damage and shutdown of oil production will reduce…
May 9, 2016
Category: Media Reporting on Sherry Strong job numbers support Bank of Canada's optimism about a rebound: Economist
Canada loses 2,100 jobs in April, unemployment rate steady
From Business News Network (BNN): Sherry Cooper, Chief Economist at Dominion Lending Centres joins BNN to break down the April jobs numbers for Canada and the U.S.
March saw employment gains of 41,000 (+0.2%), the strongest reading in five months, with Alberta (of all places) enjoying the largest improvement. This lowered the unemployment rate by 0.2 percentage points to 7.1%. So it is not surprising to see job weakness in April report. Indeed, employment was virtually unchanged last month (-2,100 or 0.0%)…