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Credit agency Moody’s has warned that three Canadian provinces could face budgetary issues if the oil price declines further and stays there for longer than a year.
With a $12.5 billion deficit, Ontario may have to increase taxes in order to balance the books.
The Bank of Canada’s deputy governor Agathe Cote says that the central bank is considering whether to increase its inflation target.
New figures from Statistics Canada show that the country’s top earners received slightly less in 2012.
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While the world’s markets digested data from Japan that showed the country has slipped into recession, the Toronto Stock Exchange has been building on the positives of last week.
A new stock exchange has been given the green light by the Ontario Securities Commission today.
With a $12.5 billion deficit Ontario’s government could have done with some good news, but instead the province’s fall economic update showed a $500 million black hole in revenues and slower growth ahead.
Canada’s existing home sales have climbed again; reaching a near 4-year high in October.
Canadian investors added $8.6 billion of foreign securities to their holdings in September after a far smaller amount in August.