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Business

Canada and Israel signed an improved and expanded Free Trade Agreement

Canada and Israel announced (July 21) the renewal and expansion of the Canada-Israel Free Trade Agreement (CIFTA), which was established in 1997 as the first bilateral trade agreement in Canada’s history. The modernized CIFTA will notably provide expanded market access opportunities for agricultural, fish and seafood products through the reduction or elimination of Israeli tariffs on a large number of ...

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Poloz: weak economic performance lead to lowering overnight rate

The Bank of Canada lowered (July 15) its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank’s Governor, Stephen Poloz, said in a media briefing that three factors were behind this downgrade: Canadian oil producers have lowered their long-term outlook for global oil prices, and have cut their plans for investment spending ...

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Unemployment rate unchanged

Statistics Canada reported (July 10) that the employment data was virtually unchanged in June (-6,400 or 0.0%), as gains in full-time work were offset by losses in part time and the unemployment rate held steady at 6.8% for the fifth consecutive month. Following gains of 63,000 (+0.4%) in the first quarter of 2015, employment grew by 33,000 (+0.2%) in the ...

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Affordability conditions deteriorated in Toronto: RBC Economics

Housing trends across provinces largely counteracted one another in the first quarter of 2015, leaving affordability relatively unchanged at the national level compared to late-2014, according to the latest Housing Trends and Affordability Report issued today by RBC Economics Research. RBC says that mortgage rate declines that took place earlier this year contributed to improved levels of affordability in many ...

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