Canada's central bank blasted oer 'inaction' to battle inflation and lower costs

 Canada column for Sunday, June 26/22

 Photo cutline:

A fiddler entertains on the rocks on Canada Day in Peggy’s Cove, Nova Scotia. (Jim Fox photo)

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    THE CANADIAN REPORT

   By Jim Fox

    Canada’s central bank is facing severe criticism over its handling of runaway inflation and threats of a recession.

   The higher costs for gasoline, food and many commodities are also dampening plans by Canadians to take their traditional summer road trips.

   Critics say the Bank of Canada has misjudged inflation as household debt rises and is playing catch-up and forced to be more aggressive with raising interest rates.

   The Canadian economy may need to find a way to permanently adjust to higher oil and gas prices, warned Stephen Poloz, former bank governor.

   “This is a reality even when the cost of other goods starts to fall,” he added.

   Statistics Canada says the country’s inflation rate is at a 40-year high of 7.7 percent.

   Gas prices are up 48 percent over last year as the single biggest jump affecting the inflation rate. The average cost of food items is up 9.7 percent.

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    Pope Francis will be visiting a former Alberta residential school site and meet with survivors during his visit to Canada next month.

   “We pray this pilgrimage will serve as another meaningful step in the long journey of healing, reconciliation and hope,” said Archbishop Richard Smith of Edmonton.

   Hundreds of unmarked graves of former students were found at the schools where children were uprooted from their families to be “Canadianized.”

   The Pope is expected to deliver an apology for the Roman Catholic Church’s role in the schools during the trip and follow up on feelings made earlier this year during an Indigenous delegation to the Vatican.

   Then, the Pope apologized for the conduct of church members involved in the former schools.

   The papal visit will start in Edmonton on July 24 and end in Iqaluit on July 29.

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    In brief:

   - The biggest party in the country will take place on July 1 to mark Canada Day, the country’s 155th birthday. Lavish street parties highlighted by fireworks displays are held in cities and towns and some U.S. cities where Canadians congregate. On July 1, 1867, Canada became a country with a new federation and constitution, formerly the British North America Act. In the National Capital Region, Ottawa, festivities take place in front of the Parliament Buildings.

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 -   Facts and figures:

   Canada’s dollar is higher at 77 cents U.S. while the U.S. dollar returns $1.29 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is steady at 1.5 percent while the prime lending rate at commercial banks is 3.7 percent.

   Canadian stock markets are higher, with the Toronto index at 19,050 points while the TSX Venture index is 641 points.

   The average price for gas in Canada is lower at $2.04 a liter or $7.75 for a U.S. gallon in Canadian funds.

   Lotto Max: (June 21) 2, 4, 5, 22. 32, 40 and 50; bonus 43. (June 17) 1, 10, 12, 21, 30, 39 and 40; bonus 38.

   Lotto 6/49: (June 22) 7, 10, 11, 18, 27 and 42; bonus 25. (June 18) 4, 6, 20, 21, 24 and 44; bonus 5.

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    Regional briefs:

   -  Ontario Premier Doug Ford unveiled his slightly larger cabinet on Friday, giving Sylvia Jones the busy role as Minister of Health, taking over from Christine Elliott who did not seek re-election. The new executive council after last month’s major victory for Ford’s Conservatives has 30 members, up from 28 and includes seven women.

    - Scientists say last year’s heat dome over the west coast of British Columbia and Washington State are expected to have “far-reaching effects” on the ecology of beaches, bluffs, inlets and river deltas. This is in addition to the impact on fisheries and cultural connections that the land, sea and sea life provide. The heat over the West Coast last summer led to the deaths of 619 people and a billion sea creatures, a survey found, saying such scorching heat will become more frequent.

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 canadareport.blogspot.com

 

Half of Canadian women say they would quit their jobs if told to stop working from home: surevey

   Canada column for Sunday, June 19/22

    THE CANADIAN REPORT

   By Jim Fox

    Almost half of working Canadian women say they are likely to quit their jobs if asked to return to the office full-time.

   Surprisingly, 45 percent want the “flexibility offered during the pandemic to continue,” said Andrea Spender, CEO of the Prosperity Project.

   The group was created to ensure Canadian women are not left behind in the COVID-19 recovery.

   The project’s survey found fewer women are working full-time at 62 per cent, compared with 70 per cent before the COVID-19 pandemic while 91 percent would prefer most or at least part of their work to be done remotely in the future.

   While 73 percent of respondents said that employers were more accommodating during the pandemic, a similar proportion, 72 percent, expect employers to put the priority on in-person office work in the future.

    Nearly 60 percent feel they will have to choose between their career and their family – at a time when almost half, 46 percent, said the pandemic has increased their responsibilities at home.

    “We learned important lessons about workplace flexibility during the pandemic and we must continue to heed those lessons,” said Pamela Jeffery, founder of the Prosperity Project.

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    Truckers’ Freedom Convoy protests will continue throughout the summer in Canada’s capital city, Ottawa, organizers say.

   Events will rev up starting on the Canada Day, July 1, holiday and for the rest of the summer to protest remaining COVID-19 pandemic-era restrictions.

   Another group, Veterans for Freedom, is planning a three-day conference in Ottawa this week.

   The group is made up of Canadian veterans seeking to “restore fundamental freedoms for all Canadians and uphold our laws.”

   Hundreds of protesters and an estimated 50,000trucks took over downtown Ottawa streets for three weeks starting in late January.

   The veterans want remaining COVID mandates repealed and workers who lost their jobs be reinstated.

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    In brief:

   - The Canadian government is repaying or forgiving $1.4 billion in loans it gave to Indigenous communities, many of them in British Columbia. This will allow them to participate in land claims negotiations and help “correct a mistake of the past” when land was seized to build railways and other non-native projects on their traditional lands,” said Prime Minister Justin Trudeau said.

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    Facts and figures:

   Canada’s dollar is lower at 76 cents U.S. while the U.S. dollar returns $1.30 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is 1.5 percent while the prime lending rate at commercial banks is 3.7 percent.

   Canadian stock markets are lower, with the Toronto index at 1,822 points while the TSX Venture index is 635 points.

   The average price for gas in Canada is steady at $2.10 a liter or $7.98 for a U.S. gallon in Canadian funds.

   Lotto Max: (June 14) 11, 17, 18, 25, 36, 41 and 50; bonus 34. (June 10) 8, 14, 16, 17, 19, 22 and 24; bonus 23.

   Lotto 6/49: (June 15) 3, 5, 9, 12, 16 and 29; bonus 32. (June 11) 14, 15, 22, 25, 32 and 44; bonus 45.

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   Regional briefs:

   - Canada-U.S. border mayors are calling for the federal government to end the mandatory ArriveCan app when entering the country. They say Canada’s stringent COVID-19 rules for international travellers are keeping would-be U.S. visitors to spend their tourist dollars instead at home.

   Ontario mayors say they depend on cross-border tourism. Sarnia’s Mike Bradley and Jim Diodati of Niagara Falls are urging the government to stop requiring travelers to complete the preclearance process that many find frustrating and confusing.

   - Toronto has been named a host city for soccer’s FIFA World Cup 2026. The city is among 16 cities that will host the much-sought-after games. Toronto events will take place at BMO Field for this North American World Cup Soccer event.

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 canadareport.blogspot.com

 

New Canadian law seeks ro ease burden of working outside busness hours at home

   Canada column for Sunday, June 12/22

    THE CANADIAN REPORT

   By Jim Fox

    Taking work home by phone and checking e-mail all evening could be a thing of the past with Ontario’s “right to disconnect” law.

   The novel law, now in effect, requires businesses to develop policies that allow employees to disconnect outside of regular office hours.

   Enacted in Canada’s largest province, it defines the disengagement as “not engaging in work-related communications, including e-mails, telephone and video calls or sending or reviewing other messages.”

   Allowing workers to “be free from the performance of work,” it requires bosses to have a written policy in place for all employees with respect to disconnecting from work.”

   Labor lawyers aren’t impressed, saying it doesn’t cover much new ground and is very bureaucratic.

   It applies to employers who have 25 or more employees and was in response to burnout and the constraints of working from home during the pandemic.

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    For families wanting to keep their in-laws and other relatives around as visitors longer, the Canadian government now offers a “Super Visa Program.”

   Canadian citizens and permanent residents can invite parents and grandparents to come to Canada as long-term visitors on a multi-entry visa that remains valid for up to 10 years.

   As well, unlike standard visitor visas, it allows visa holders to stay in Canada for up to two years on initial entry to the country.

   Starting on July 4, super visa holders will be able to stay in Canada for five years with an option to extend two more years.

   Previously, parents and grandparents were only allowed to visit family in Canada for no longer than two years at a time. This now is valid for10 years and allows multiple entries.

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    In brief:

   -The pent-up demand by Canadians to fly has led to chaos at major airports. It’s blamed  by Air Canada on a lack of staff and the government by travelers with expired or improper documents along with COVID-19 restrictions. Travelers reported lines of several hundred  people at Toronto’s Pearson International Airport and canceled flights. Transport Minister Omar Alghabra said 400 additional screening officers will start work later this month while warning the backlogs will continue, likely into the fall.

   - Canada’s economy added 40,000 jobs last month with a gain in full-time jobs as the labor market continued to tighten. Statistics Canada said the jump came as the jobless rate fell to 5.1 percent. That is the lowest since 1976, as far back as comparable data is kept. The unemployment rate was 5.2 per cent in April. Meanwhile, the country’s inflation rate rose to a mlti-decade high of 5.7 per cent, driven largely by higher prices for gas and groceries.

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    Facts and figures:

   Canada’s dollar is lower at 79 cents U.S. while the U.S. dollar returns $1.27 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is 1.5 percent while the prime lending rate at commercial banks is 3.7 percent.

   Canadian stock markets are mixed, with the Toronto index up at 20,563 points while the TSX Venture index is down at 700 points.

   The average price for gas in Canada is higher at $2.10 a liter or $7.98 for a U.S. gallon in Canadian funds.

   Lotto Max: (June 7) 6, 13, 17, 20, 28, 36, and 44; bonus 31. (June 3) 2, 16, 17, 21, 38, 43 and 45; bonus 42.

   Lotto 6/49: (June 8) 6, 22, 32, 39, 40 and 46; bonus 26. (June 1) 1, 15, 16, 19 ,44 and 48;  bonus 5.

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    Regional briefs:

   - The growing number of vehicle hijackings became bizarre when a man tried to drive off with a transit bus in service in Mississauga, near Toronto. When the driver fought him off and brought the bus to a halt, the man then stole a transit supervisor’s van in the 1 a.m. incident. Police followed a GPS signal to locate the van and arrested the suspect.

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 canadareport.blogspot.com

 

Sellers must keep sale records and check for a valid license in revised firearm rules for Canada

    Canada column for Sunday, June5/22

    THE CANADIAN REPORT

   By Jim Fox

    The Canadian government is fine-tuning its firearm regulations that ensure anyone buying a gun has a valid license.

   It will also require sellers to keep sales and inventory records, said Public Safety Minister Marco Mendicino.

   This amounts to the latest steps toward fully implementing Bill C-71, approved in 2019.

   That requires sellers to verify the validity of a firearms license before selling a non-restricted firearm, such as a basic rifle or shotgun.

   Businesses must now keep records of inventory and sales related to non-restricted firearms.

   The Conservative party has accused the Liberal government of reviving the national long-gun registry created by the Liberals in the 1990s and abolished later.

   Prime Minister Justin Trudeau said he would never enact a long-gun registry and “today he is breaking that promise to Canadians by passing off the responsibility to maintain a registry to retailers who sell firearms to lawful and properly licensed Canadians.”

   “These new rules will ensure that those people who aren't allowed or shouldn’t have access to a gun can’t get one and prevent guns from falling into the wrong hands,” Mendicino said.

    ---

    A devastating loss in Thursday’s Ontario election won by Premier Doug Ford’s Conservatives resulted in both main political rivals saying they will be quitting politics.

   Liberal leader Steven Del Duca even failed to win re-election in his own district and socialist New Democratic Party (NDP) Andrea Horwath, who has now lost four elections, announced they will be leaving.

   The Conservatives couldn’t be caught and won their second consecutive majority government with the major competitors losing seats and the Liberals failing to retain official party status.

   There were 83 Conservatives elected, 31 for the NDP, 8 for the Liberals and 1 won by the Green environmental party.

   ---

    In brief:

   - Blaming “persistent inflation," the Bank of Canada raised its trendsetting interest rate by 0.5 to 1.5 per cent, the second similar hike this year. Economists had predicted the increase for the third time this year to try to calm high inflation rates. They say in order to have much effect on inflation, the key bank rate would have to be increased to more than 3 percent. This is the first time the Bank of Canada has raised rates by 0.5 in back-to-back decisions in nearly 25 years.

     - Health Canada and the Public Health Agency of Canada have extended federal COVID-19 restrictions at the border until at least June 30. As well, the federal government continues to require foreign tourists to provide proof of being fully vaccinated. Unvaccinated Canadian citizens or permanent residents are still required to show proof of a molecular COVID-19 test taken prior to entering Canada and quarantine for 14 days. All travelers coming to Canada, regardless of citizenship, must also continue to submit their health information through the Arrive CAN app before arriving.

    ---

    Facts and figures:

   Canada’s dollar is higher at 79.5 cents U.S. while the U.S. dollar returns $1.26 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is higher at 1.5 percent while the prime lending rate at commercial banks is 2.45 percent or more.

   Canadian stock markets are higher, with the Toronto index at 20,843 points while the TSX Venture index at 722 points.

   The average price for gas in Canada is higher at $2.02 a liter or $7.67 for a U.S. gallon in Canadian funds.

    Lotto Max: (May 31) 6, 13, 23, 27, 35, 44 and 50; bonus 37. (May 27) 4, 9, 21, 22, 27,  31 and 34; bonus 5.

   Lotto 6/49:  (June 1) 1, 15, 16, 19, 44 and 48; bonus 5. (May 28) 6, 13, 15, 29, 45 and 48; bonus 1.

    ---

    Regional briefs:

   - Ontario Hydro says some customers in eastern Ontario could still be without power for more days or weeks after last week’s massive storm and tornado. There are more than 6,000 people without power in an area from Kingston to Ottawa as lines and poles were destroyed. “The severity of damage” means some customers in the Bancroft region will be without power for several more days,” Ontario Hydro said. Ten people were killed in the storm, mostly from fallen trees.

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 canadareport.blogspot.com

Tougher gun laws coming to Canada, Trudeau says

  Canada column for Sunday, May 29/22

    THE CANADIAN REPORT

   By Jim Fox

    More stringent gun controls are coming for Canadians, Prime Minister Justin Trudeau said after expressing the condolences of the country to Texans after the horrific school murders.

   The shooting deaths of 19 students and two teachers was “an incredibly senseless, violent act,” Trudeau said vowing to “move forward on doing even more” with updated gun laws.

   In the coming weeks, the Canadian government will announce new steps related to gun control, he said.

   No details were given or whether it would include a handgun ban across the country.

   Trudeau said there has been less pressure from some mayors and gun control advocates.

   “We understand there is a range of opinions and views,” along with unity “in wanting to see less gun violence and fewer deaths from gun violence across the country.”

   The government currently allows cities and provinces to determine their own gun laws.

   During the last election, the Liberal government planned to give $1 billion to provinces that instituted a handgun ban.

   There has also been a ban on many assault-style rifles and stricter background checks on weapon buyers.

   As well, the owners of some of the 1,500 gun types were given a two-year amnesty period.

    ---

   A man with a rifle in the area of several schools in east-end Toronto was shot to death by police.

   The man was seen carrying a rifle or gun and police were called to Scarborough, Ontario after there were lockdowns of multiple schools in the area.

  He was shot and killed in a confrontation with the police but few details were given.

   Toronto Police Chief James Ramer said he cannot comment while the provincial watchdog, the Special Investigations Unit, is investigating the case.

   It is known that two police officers fired their weapons at the suspect and a long barrel firearm was recovered.

  In brief:

   - Environment Canada has determined that a tornado was part of deadly Ontario storm with high winds and a series of thunderstorms that killed eight people, mostly from fallen trees. The twister touched down in Uxbridge, east of Toronto, as the weather system moved through Ontario.  Known officially as a decrecho, it tore apart houses and knocked out power to thousands as far away as Ottawa. The storm developed around Sarnia near the U.S. border and moved northeastward over southern Ontario and into Toronto and Ottawa.

    ---

    Facts and figures:

   Canada’s dollar is steady at 78 cents U.S. while the U.S. dollar returns $1.28 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is unchanged at 1 percent while the prime lending rate at commercial banks is 3.2 percent or more.

   Canadian stock markets are down, with the Toronto index at 20,532 points while the TSX Venture index is at 714 points.

   The average price for gas in Canada is higher at $1.96 a liter or $7.44 for a U.S. gallon in Canadian funds.

    Lotto Max: (May 24) 12, 26, 30, 31, 35,39 and 45; bonus 22. (May 20) 5, 6, 20, 29,42,44 and 47; bonus 14.

   Lotto 6/49: (May 25) 14, 15, 22, 35, 36 and 47; bonus 19. (May 21) 4, 5, 26, 33, 35 and 44;  bonus 30.

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    Regional briefs:

   Voters continue to favor Premier Doug Ford and his Conservatives to win in the June 2 Ontario elections. A survey by Ipsos says 45 percent of respondents said they believe Ford’s Conservatives will be re-elected. Next are Steven Del Duca and the Liberals with 14 percent, with 10 percent for Andrea Horwath and the Ontario New Democratic Party. One voter in three or 32 percent had no opinion.

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 canadareport.blogspot.com

Ontario leaders' campaigns slowed by COVID-19 incidents

    Canada column for Sunday, May 22/22

    THE CANADIAN REPORT

   By Jim Fox

    Two of Ontario’s4 political party leaders have had their election campaigns stalled after coming down with COVID-19.

   New Democratic Party (NDP) leader Andrea Horwath called off a northern tour in Sault Ste. Marie and went into isolation after testing positive for the virus.

   She is unable to attend in-person campaign events for now and has switched to virtual campaigning ahead of the June 2 Ontario election.

   She said her symptoms are mild and that she is looking forward to getting back to the campaign once she is feeling better and has tested negative.

  Also switching to virtual events is Green Party leader Mike Schreiner who said he tested positive on a rapid test after close contact with a staff member.

   He said he is “feeling fine” and is fully vaccinated and will communicate remotely from home “for a few days” while following public health advice.

   Ontario public health rules require that people isolate for five days after COVID-19 symptoms first appear or after a positive test result.

   Polls show Premier Doug Ford’s Conservatives remain in the lead in a Nanos poll, with 36.1 percent support ahead of the Liberals 29.3 percent, the NDP 19.8 and the Greens, 7.3.

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    There’s another virus to worry about as Quebec has two confirmed cases of monkeypox in the province with 20 other suspected cases under investigation.

   These are first confirmed cases in Canada, while other countries have identified other cases of the rare disease.

   Public health Dr. Mylene Drouin said the illness is not extremely contagious and is the milder of two strains.

   Epidemiological investigations are continuing to determine the links in cases and identify potentially at-risk contacts.

    Health officials are advising people to be vigilant and note that the disease is “transmissible through prolonged and close contact with an infectious person.”

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 News in brief:

- There have been numerous carjackings during daylight hours across Toronto with armed thieves stealing high-end automobiles along with driver’s wallets and purses. One high profile theft was that of Toronto Maple Leafs hockey player Mitch Marner’s Range Rover in a movie theater parking lot. The brazen surge amounts to 64 carjackings this year compared with 59 in all of last year. One car quickly recovered by the police was a $250,000 Lamborghini taken during a home invasion at a downtown Toronto condo.

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   Facts and figures:

   Canada’s dollar is higher at 78 cents U.S. while the U.S. dollar returns $1.30 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is unchanged at 1 percent while the prime lending rate at commercial banks is 3.2 percent or more.

   Canadian stock markets are higher, with the Toronto index at 20,181 points while the TSX Venture index is 705 points.

   The average price for gas in Canada has risen to $2.01 a liter or $7.63 for a U.S. gallon in Canadian funds.

   Lotto Max: (May 17) 10, 35, 38, 40 45, 47 and 48; bonus 23. (May 13) 2, 22, 37, 38, 39, 42 and 47; bonus 30.

   Lotto 6/49: (May 18) 14, 22, 24, 28, 42 and 48; bonus 23. (May 14) 2, 14, 21, 27, 34 and 49; bonus 5.

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    Regional briefs:

    - Jason Kenney is leaving his job as leader of Alberta’s United Conservative Party, saying the slim majority of his leadership review was not enough to stay on. Kenney, Alberta’s Premier Kenney, 53, who cofounded the party five years ago, received support from 51.4 per cent of party members in the review and said it was “not enough to hold on to power.” Kenney said he will remain leader until someone is appointed to replace him. Critics said he broke his word by ignoring the “grassroots” members and called for his resignation.

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canadareport.blogspot.com

 

Canada OKs loan guarantee for Trans Mountain pipeline expansion to west coast

 

    Canada column for Sunday, May 15/22

    THE CANADIAN REPORT

   By Jim Fox

    The Canadian government has approved a $10-billion loan guarantee for the Trans Mountain pipeline expansion in western Canada.

   An announcement said this is common practice and does not reflect any additional public funding for the high-profile oil pipeline.

   Trans Mountain pipeline is Canada’s only oil pipeline system from Alberta to the West Coast and was bought by the federal government in 2018 for $4.5 billion.

   Previous owner Kinder Morgan Canada Inc. was considering scrapping the planned expansion  due to environmentalist opposition.

   Scheduled to be completed in 2023, the project will twin the existing pipeline and boosting daily output to 890,000 barrels of crude oil, and  50-percent complete.

   Finance Minister Chrystia Freeland has said there will be no additional public funding for the pipeline but the government-owned project needs to secure third-party funding to complete the project.

   Meanwhile, the massive Keystone XL pipeline was canceled over U.S. environmental concerns.

   It would have covered 1,210 miles from Hardisty, Alberta, to Steele City, Nebraska and moved 830,000 barrels of crude from western Canadian oil fields to U.S. Gulf Coast refineries.

    ---

    Gas prices across Canada have hit a new all-time record, closing in on $2 a liter ($7.60 for a U.S. gallon in Canadian funds).

   Natural Resources Canada said they are still going higher, with Vancouver at $2.23 a liter, Toronto,  $2 and Edmonton, $1.30.

   As prices reached $2 in Atlantic Canada and $2.50 for diesel, some governments are looking at cutting excise sales tax on fuel.

   New Brunswick Premier Blaine Higgs also said his province will ensure revenues from the record gas prices will go back to the public.

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 News in brief:

Ryerson University in Toronto is the latest institution being politically correct in changing its name. To be known as Toronto Metropolitan University, the change was prompted by growing calls to examine the legacy of Egerton Ryerson. Research showed he was an architect of Canada’s residential school system that separated 150,000 Indigenous children from their families to “Canadianize” them. A statue of Ryerson was also pulled down by students and protesters last year.

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   Facts and figures:

   Canada’s dollar is lower at 77 cents U.S. while the U.S. dollar returns $1.30 in Canadian funds, before exchange fees.

   The Bank of Canada’s key interest rate is unchanged at 1 percent while the prime lending rate at commercial banks is 3.2 percent or more.

   Canadian stock markets are down, with the Toronto index at 20,110 points while the TSX Venture index is 700 points.

   The average price for gas in Canada is rising to a national $1.93 a liter or $7.33 for a U.S. gallon in Canadian funds.

   Lotto Max: (May 10) 6, 15, 18, 19, 20,   27 and 28; bonus 24. (May 6) 3, 6, 11, 18, 19, 28 and 41; bonus 26.

   Lotto 6/49: (May 11)5, 10, 12, 34, 36 and 48; bonus 27. (May 7) 7, 12, 21, 28, 40 and 46; bonus 34.

   ---

    Regional briefs:

   - Water bombers have been sent to battle forest fires in Nova Scotia. The Canadian Interagency Forest Fire Center said the bombers are from Newfoundland and Labrador to help ground and air crews fight an out-of-control wildfire near Horseshoe Lake in Yarmouth County. The fire covers about 15 square miles and continues to grow with winds and low humidity. It has also led to air-quality alerts for the area.

- Canadians are being urged to remove bird feeders to help combat the spread of avian flu that has caused the deaths of 1.5-million birds. The infectious virus spread primarily among birds, mainly chickens, turkeys and ducks and attacks internal organs within the infected bird and usually causes death. The outbreak began across the country last year. 

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 canadareport.blogspot.com