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Bank of Canada’s monetary policy report offers a more sobering assessment of Canadian economy

By David Crane      

While we can be encouraged by recent gains in employment and growth, this is the wrong time to be complacent. We face fundamental challenges for our economic future and both the Bank of Canada and Finance Canada need to do a much better job of addressing them, and being much more candid with the Canadian people.

Finance Minister Bill Morneau, pictured last week on the Hill. The Monetary Policy Report of the Bank of Canada offers a more sobering assessment of the Canadian economy compared to the minister's fiscal update. However, both project an economy growing at 3.1 per cent this year, slowing to just 1.5-1.6 per cent by 2019. The Hill Times photograph by Andrew Meade

TORONTO—Compared to the boastful and self-congratulatory messaging in Finance Minister Bill Morneau’s fiscal update, the Monetary Policy Report of the Bank of Canada offers a more sobering assessment of the Canadian economy. However, both project an economy growing at 3.1 per cent this year, slowing to just 1.5-1.6 per cent by 2019.

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A fall federal election is ‘a real possibility,’ and a ‘sweet spot’ for Liberals to win a majority, say pollsters

News|By Abbas Rana
Liberal MPs have recently held discussions in caucus meetings about nomination rules for incumbent MPs for the next election, Liberal MP Ken Hardie confirmed to The Hill Times last week.

Time for foreign policy update to prepare Canada for post-pandemic world, say some experts

News|By Neil Moss
The rules-based international order as it once was 'no longer exists,' says Canadian International Council president Ben Rowswell.

Liberals preparing legislation to extend deadlines for courts, security reviews and more amid pandemic

The law could give Innovation Minister Navdeep Bains more time to give notice of a national security review to a foreign company trying to take over a Canadian business.

Liberal MP Marie-France Lalonde, a former retirement home operator, joins call for national standards and more money for long-term care

‘We all knew we needed more money into this system. Now the focus should be that.’

‘It’s been better than nothing at all’: MPs settle into Zoom sittings, though some say more room for increased oversight

News
While some MPs say the debate in the virtual sittings is 'livelier,' and heckling has diminished, one MP notes the theatrics of Parliament haven’t completely been shaken off.

Despite limited leverage, Canada has duty to mount full-throated condemnation of China’s national security law, say experts, Parliamentarians

News|By Beatrice Paez
'We can’t lose sight of the fact that Hong Kong has been a fabric of Canada, and we owe it to Hong Kongers to be very public about our opposition to what is taking place,' says Sen. Jim Munson.

U.S. academic who saw Trump victory in 2016 says president’s re-election bid in serious trouble

News|By Abbas Rana
‘The Radical Left Lamestream Media, together with their partner, the Do Nothing Democrats, are trying to spread a new narrative that President Trump was slow in reacting to Covid 19,’ says U.S. President Donald Trump in a tweet.

Narrow focus to supporting ‘subpopulations,’ says expert, in preparation for second wave of the pandemic

News|By Palak Mangat
In recognition of how the pandemic is disproportionately affecting racialized communities, the feds' anti-racism secretariat has set up an taskforce to address inequities.

Online tool tracks more than 100 pandemic-related racism incidents since February

News|By Palak Mangat
The three more common types of harassment were verbal insults, denial of access to public areas, and intentional spitting or coughing. 
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