Canada’s economy is set to post healthy growth in the second half of 2009 and recover at a quicker pace than previous downturns on the basis of, among other things, “substantial” fiscal stimuli from the federal government, the Bank of Canada said in its updated outlook today. – Globe and Mail
Confidence is the key to an economic recovery in Canada and around the world, Bank of Canada Governor Mark Carney said recently– CEP News
Ottawa is pumping out bonds to back the residential real estate market, with the Canada Housing Trust expected to sell $3.5 billion of new debt this week.
As the federal government expands it mortgage insurance program, the Canada Housing Trust announced Tuesday that it will sell an additional $2.5 billion of 10-year Canada Mortgage Bonds, and launch a new $1 billion five-year floating rate note. – Globe and Mail
US President Barack Obama put his own indelible imprint on the country's distressed economy Tuesday, signing the huge $787 billion recovery package into law, readying a $50 billion (US) proposal to help homeowners fend off foreclosure and awaiting emergency restructuring plans from auto makers.
Obama said the sprawling legislation, which congressional Democrats pushed to passage last week over near-unanimous opposition from Republicans, would “set our economy on a firmer foundation.”
The feds have also announced an increase in the insurance mortgage program to $125 billion and CAAMP welcomes the permanent income tax measures set forth in the budget, which will increase take-home pay, especially for lower and middle income Canadians.
No comments:
Post a Comment