The Dreaded Double Dip Recession Looms

The Dreaded Double Dip Recession LoomsThe Bank of Canada has raised interest rates again, saying: the economy is recovering but still faces major challenges. If the economy is facing major challenges, then why raise rates? BMO economist Douglas Porter said poor housing sales and less spending by Canadians is still making for a fragile economy — and higher borrowing costs wouldn’t help improve the situation. I can’t think of a really good reason why the…

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Recession-battered Canadians Grow Conservative

Recession-battered Canadians Grow ConservativeRecession-battered Canadians are growing more conservative with their money and turning away from high risk investments to the safety of savings accounts — a trend that banks are cashing in on, industry insiders say. Canadians this year have opened about 20 per cent more chequing and savings accounts than last — a giant leap from the average three to five per cent annual increase, said financial services consultant David McVay….

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Canada’s economic recovery stalls in April

Canada's economic recovery stalls in AprilCanada’s economy stalled in April on a slide in retail sales, suggesting the pace of growth is slowing and that the central bank may think twice about raising interest rates again this month. Statistics Canada said on Wednesday real gross domestic product was flat in the month after seven straight months of expansion and the fastest growth in a decade in the first quarter. The Canadian dollar sagged after the…

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