Downside risks increase but Bank of Canada keeps interest rate setting at

by News Staff Posted Jun 4, 2014 9:34 am MDT The Bank of Canada has kept its trend-setting interest rate at one per cent, but is warning of downside risks to the global and Canadian economies.The central bank hasn’t budged from the one-per-cent level in almost four years and says nothing has occurred in the past few months to warrant a change from what it calls a stimulative policy.If anything, the bank says the downside risks to the economy have increased since its last pronouncement in April.The bank says global conditions, particularly in the United States, have weakened somewhat from what was anticipated.The Canadian economy recorded below-expectations with a 1.2 per cent growth rate in the first quarter, which was slightly less than the bank had forecast.The bank attributes the weak start of 2014 to severe weather conditions and supply constraints, adding that it believes the ingredients are still there for a pick-up in exports and increased business investment going forward.On the housing front, the bank says it sees continued signs of a soft landing in the market.(The Canadian Press) AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Downside risks increase, but Bank of Canada keeps interest rate setting at 1% read more

Broad reform needed to make Seanad fit for modern Ireland says Coveney

first_img SEANAD REFORM is needed than extending voting rights to all university graduates, Simon Coveney has said.Speaking on his way into the cabinet’s weekly meeting, the Minister said that while this first step towards reform must be made, more “fundamental reform” is required.However, this would require another referendum.The Agriculture Minister was responding to a report in today’s Irish Times which said the government is considering legislation which would give graduates of all third level institutions a vote in Seanad elections .“We do need to look at ways in which we can bring meaningful reform so we can modernise the Seanad and make it fit for purpose for modern Ireland”, he said, “rather than for an Ireland that it was set up for”.Read: The Seanad sat for just two days this week… again >More: ‘I come in peace, not in war’ Taoiseachtells the Seanad >last_img read more