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National Business

Mortgage rates to decline following central bank’s rate cut: economists

TORONTO — Canadian homeowners have likely gained a reprieve from an expected increase in mortgage rates this year.

Economists say rates will dip slightly in response to the Bank of Canada’s surprise move Wednesday to cut its trend-setting interest rate to 0.75 per cent, from one per cent, to soften the blow of dropping oil prices on the Canadian economy. READ

Bank of Canada shocker: key interest rate drops to 0.75% amid oil slump threat

The looming threat of sliding oil prices forced the Bank of Canada to drop its trend-setting interest rate Wednesday, a surprising move that shows just how much the country’s economic outlook has soured in a matter of months. READ

IMF drops forecast for Canadian economic growth amid weakened global outlook

The International Monetary Fund is downgrading its 2015 growth forecast for the Canadian economy as it lowers its overall outlook for global growth. READ

Oil-price collapse to cut $4.3 billion from federal revenues: report

The sharp collapse of world oil prices will cut the Canadian government’s income by $4.3 billion this year and deliver a nearly $10-billion blow to the provinces, says a new report Tuesday by the Conference Board of Canada. READ

Target Corp. checks out of Canada with plans to wind down 133 stores

Less than two years after Target Corp. threw open the doors of its first Canadian stores with grand expectations , the discount retailer is retreating back to the United States in defeat. READ

Federal budget to be delayed until April in light of low oil prices: Oliver

Canada’s finance minister says he will delay tabling a budget until April because of economic uncertainty caused by tumbling oil prices. READ

Decline in oil price to impact real estate in 2015, according to Royal LePage

Royal LePage says the price of a Canadian home is expected to rise by a relatively modest 2.9 per cent on average in 2015 as price appreciation slows across the country. READ

Banks bracing for possibility oil prices will remain low for prolonged time

Canadian banks are taking a hard look at their energy and consumer loans as they brace for the possibility of a prolonged period of depressed oil prices. READ

Cheap crude puts economy’s post-recession recovery at risk: Bank of Canada

The Bank of Canada says low oil and commodity prices are putting the Canadian economy’s post-recession recovery at risk. READ

Exxon says Prince Rupert LNG plant worth $25-billion and could create 6,000 jobs

Exxon Mobil Corp. says it plans to spend up to $25 billion to build a liquefied natural gas export plant at Tuck Inlet, located within the city limits of Prince Rupert on British Columbia’s north coast. READ

Canada loses 4,300 net jobs in December, jobless rate stays put at 6.6%

The Canadian labour market capped off 2014 by losing 4,300 net jobs in December, a slight dip from the previous month that left the unemployment rate locked at 6.6 per cent, Statistics Canada said Friday. READ

Over to you, Obama: Nebraska court clears path for presidential decision on Keystone

The Keystone XL pipeline decision now rests in President Barack Obama’s hands, with a Nebraska court clearing an obstacle that has delayed the conclusion of the years-long debate over the Canadian oil project. READ

Most of Canada’s oilsands unusable if world moves on climate: report

A new study says most of Canada’s oilsands will have to be left in the ground if the world gets serious about climate change. READ

Crude-by-rail volumes expected to grow in 2015 despite price volatility

Volatility in energy prices is expected to be a “wild card” for Canadian railways in the long term, but crude-by-rail volumes should continue to grow, albeit more slowly, in 2015, an industry analyst said Tuesday. READ

Ontario, B.C. to grow faster than Alberta in 2015 due to oil price: economist

Falling oil prices will shift the balance of power among Canada's provinces this year, with Alberta expected to see its growth rate slashed in half, according to Bank of Montreal chief economist Douglas Porter. READ

White House threatens to veto Keystone pipeline bill

The White House says President Barack Obama would veto legislation approving construction of the long-stalled Keystone XL oil pipeline. READ

Cheaper crude oil might actually benefit Canadian economy: RBC study

Perhaps an era of cheap crude won’t be so bad for Canada after all. READ

Canadian exporters to Russia assess fallout of currency crisis, sanctions

Canadian exporters stung by Russia’s currency crisis and its retaliatory sanctions against the West wonder what 2015 will hold for a market filled with promise less than 12 months ago. READ

Agriculture minister says time running short for U.S. to fix meat label law

Canada’s agriculture minister says time is running short for the U.S. to avoid trade tariffs over its discriminatory meat labelling laws. READ

EU leaders say trade deal with Canada is done

The European Union leadership presented a united front on their trade agreement with Canada on Friday in an attempt to dampen concerns that some European countries might still scuttle the deal. READ

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