DOCSLIB.ORG

Monthly Economic Monitor

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

. World: The Delta variant is driving a new wave of infections Daily new cases and deaths related to Covid-19, 7-day moving average 1,100,000 15,000 1,000,000 14,000 900,000 13,000 800,000 12,000 700,000 Cases (L) 11,000 600,000 10,000 500,000 9,000 Deaths (R) 400,000 8,000 300,000 7,000 200,000 6,000 100,000 5,000 0 4,000 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 NBF Economics and Strategy (data from Our World in Data) World: Do the vaccines lose effectiveness over time? United Kingdom: Israel: New cases and deaths related to Covid-19, New cases and deaths related to Covid-19, 7-day moving average 7-day moving average 65,000 1,300 9,000 80 60,000 1,200 Cases (L) 8,000 70 55,000 1,100 50,000 1,000 7,000 Cases (L) 60 45,000 900 6,000 40,000 800 50 5,000 35,000 700 40 30,000 600 4,000 Deaths 25,000 500 30 Eurozone: The economy seems to be holding up against Delta (R) 3,000 20,000 400 European Commission Economic Sentiment Indicator Markit PMI Index 20 15,000 300 2,000 Last observation July 2021 120 65 10,000 200 Deaths (R) 10 Mfg 1,000 115 60 5,000 100 0 0 0 0 110 55 2020 2021 2020 2021 Comp 105 50 NBF Economics and Strategy (data from Our World in Data) 100 45 Long-term average 95 40 Services 90 35 85 30 80 25 75 20 70 15 65 10 2005 2010 2015 2020 2018 2019 2020 2021 NBF Economics and Strategy (data from Refinitiv) Eurozone: Still much to make up Emerging economies: Fiscal conditions are more constraining Real GDP Total measures* implemented since January 2020 to counter effects of Covid-19 102 2019Q4 = 100 18 101 U.S. % of GDP 100 16 99 98 14 Eurozone 97 96 12 95 94 10 93 92 8 91 6 90 89 4 88 87 2 86 85 0 2018 2019 2020 2021 Advanced economies Ermerging economies Developing economies NBF Economics and Strategy (data from Refinitiv) * Includes fiscal measures plus loan programs, loan-guarantee programs and government purchases of equity NBF Economics and Strategy (IMF data) Developed economies: Delta variant is slowing recovery World: Tourism is very far from its pre-pandemic volume Citi Economic Surprise Index for the G-10 countries 200 International tourist arrivals, Tourist arrivals by region, Index change from pre-pandemic peak change from pre-pandemic peak Last observation May 2021 (May 2021) 160 10 % 0 120 America -10 80 -20 Africa 40 -30 Europe -40 0 -50 -40 World -60 -80 -70 Middle East -80 -120 -90 Asia/Pacific -160 % 2006 2008 2010 2012 2014 2016 2018 2020 2022 -100 2020M01 2020M05 2020M09 2021M01 2021M05 -100 -80 -60 -40 -20 0 NBF Economics and Strategy (data from Bloomberg) NBF Economics and Strategy (data from United Nations World Tourism Organization) China: Services output slowed by shutdowns Non-manufacturing PMI, last observation August 2021 58 Index 56 54 52 50 Expansion 48 Emerging countries: Greater sensitivity to interest rates Volume of credit extended to nonfinancial sector as % of GDP 46 Contraction 250 44 % of GDP 42 240 40 230 38 220 36 210 34 200 32 190 30 180 28 170 2019 2020 2021 160 NBF Economics and Strategy (data from Bloomberg) 150 140 130 120 110 100 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 NBF Economics and Strategy (data from Belt and Road Initiative) Emerging countries: Markets still confident JP Morgan index of emerging-country currencies 65 Index 64 63 62 World: Supply chains knocked for a loop by Covid 61 Baltic Dry Index and benchmark cost of shipping a 40-ft container from Hong Kong to Los Angeles 60 4,400 11,000 Index US$ 59 4,000 10,000 58 3,600 9,000 57 3,200 8,000 56 55 2,800 7,000 Baltic Dry index (L) 54 2,400 6,000 53 2,000 5,000 52 2018 2019 2020 2021 1,600 4,000 NBF Economics and Strategy (data from Bloomberg) 1,200 3,000 800 2,000 400 1,000 Cost of shipping a container from Hong Kong to Los Angeles (R) 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 NBF Economics and Strategy (data from Bloomberg and Drewry Shipping Consultancy) U.S.: Resurgence of Covid Daily new cases and deaths related to Covid-19, 7-day moving average 280,000 3,500 260,000 3,250 240,000 3,000 220,000 2,750 200,000 2,500 180,000 2,250 Cases (L) 160,000 2,000 140,000 1,750 120,000 1,500 100,000 1,250 80,000 1,000 60,000 750 40,000 500 20,000 Deaths (R) 250 0 0 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 NBF Economics and Strategy (data from Our World in Data) U.S.: The current wave of Covid seems less damaging to the economy Google Mobility Report for retail and recreation, 7-day moving average 12 8 4 0 -4 -8 -12 -16 -20 U.S.: A sharp decline of consumer confidence in August -24 Conference Board and University of Michigan confidence indexes -28 -32 140 108 Index Index -36 135 104 -40 Conference 130 Board (L) 100 -44 -48 125 96 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 120 92 NBF Economics and Strategy (data from Google) 115 88 110 84 105 80 100 76 95 72 90 University of 68 Michigan (R) 85 64 2019M02 2019M07 2019M12 2020M05 2020M10 2021M03 2021M08 NBF Economics and Strategy (data from Refinitiv) U.S.: Households in good shape even without transfer payments Personal income excluding transfers Estimated excess savings, each month since beginning of pandemic 105 450 2020m02 = 100 US$ billion 104 Total: 400 $2.282 trillion 103 12% of 2019 GDP U.S.: Not enough job openings to make up the employment shortfall 102 350 Total demand for labour: employment + unfilled positions 101 300 160 100 Million 99 158 −2.6M 250 98 156 97 200 154 96 150 152 95 150 94 100 148 93 50 146 92 144 91 0 2019M11 2020M04 2020M09 2021M02 2021M07 2020M03 2020M07 2020M11 2021M03 2021M07 142 NBF Economics and Strategy (data from Bloomberg and Refinitiv) 140 138 136 134 132 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 NBF Economics and Strategy (data from Bloomberg) U.S.: Worst buying conditions in decades University of Michigan consumer surveys, buying conditions for vehicles and houses 190 Index 180 170 Houses 160 150 U.S.: Demand for labour falls short of pre-pandemic level 140 Total demand for labour (employment + job openings) in July 2021* vs. 2019 average 130 120 Vehicles Total Employment 110 Government 100 Private Goods 90 Services 80 Natural resources 70 Leisure/Hospitality 60 Accom/Food services Information 50 Education 40 Wholesale 30 Real estate 1980 1985 1990 1995 2000 2005 2010 2015 2020 Construction NBF Economics and Strategy (data from Bloomberg) Manufacturing Health/Social assistance Other services Retail Prof/Business services Finance/Insurances Transport/Warehousing % chg. -14 -12 -10 -8 -6 -4 -2 0 2 4 6 * July job openings as estimated by NBF NBF Economics and Strategy (data from Bloomberg and Refinitiv) U.S.: Vehicle inventories at an all-time low Vehicle inventories 12-month change in prices of new/used vehicles according to Consumer Price Index 2,000 7 50 Units % y/y 1,800 6 40 U.S.: Inflation expectations on the rise New (L) University of Michigan consumer surveys, expected inflation over next 12 months and next 5-10 years 1,600 5 30 4 1,400 5.6 % 3 1,200 20 5.2 2 1,000 10 4.8 12 months 1 800 0 0 4.4 600 -1 Used (R) -10 4.0 400 -2 -20 3.6 200 -3 0 -4 3.2 1970 1980 1990 2000 2010 2020 2000 2005 2010 2015 2020 2025 NBF Economics and Strategy (data from Bloomberg and Refinitiv) 2.8 5-10 years 2.4 2.0 1.6 2006 2008 2010 2012 2014 2016 2018 2020 2022 U.S.: A roaring seller’s market in housing NBF Economics and Strategy (data from Bloomberg) 12-month change in S&P CoreLogic Case-Shiller 20-City Home Price Index vs. resale-market inventory 25 % y/y All-time high 20 15 Home prices (R) 10 5 0 -5 -10 12 Months of inventory -15 11 -20 10 9 8 Ratio of inventory to monthly sales – 7 resale market (L) 6 5 4 3 suppy 2 1 Short 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 NBF Economics and Strategy (data from Refinitiv) U.S.: GDP back to potential in Q2 2022 Real GDP with NBF forecasts vs. potential GDP as estimated by CBO 20,800 US$ billion 20,400 2022Q2 U.S.: A run-up of prices way out of the ordinary 20,000 Deviation of 12-month inflation from 10-year average CBO estimate of potential GDP 19,600 4 Standard deviations 19,200 3 18,800 2 NBF forecast of real GDP 18,400 1 18,000 0 17,600 -1 17,200 2016 2017 2018 2019 2020 2021 2022 -2 NBF Economics and Strategy (data from CBO) -3 -4 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 NBF Economics and Strategy (data from Bloomberg and FRED St.
Recommended publications
  • Promoting Canada's Economic and Financial Well-Being

    Promoting Canada's Economic and Financial Well-Being

    Bank of Canada: Promoting Canada’s Economic and Financial Well-Being Remarks to the Greater Sudbury Chamber of Commerce Sudbury, Ontario 10 February 2014 John Murray Deputy Governor Bank of Canada Table of Contents . Bank of Canada’s mandate . Four main activities . Economic outlook . Introduction of Bank of Canada Regional Directors and representatives 2 Mandate 3 Mandate The Bank of Canada’s mandate is to contribute to the economic and financial well-being of Canadians We do this by: . aiming to keep inflation low, stable, and predictable . promoting a stable and efficient financial system . supplying secure, quality bank notes . providing banking services to the federal government and key financial system players 4 The Bank’s approach In each of these four core areas, we follow the same consistent approach: . a clear objective . accountability and transparency . a longer-term perspective 5 Key responsibilities: Monetary policy Our objective: To foster confidence in the value of money by keeping inflation at or near the 2 per cent inflation target This is important because: . it allows consumers, businesses, and investors to read price signals clearly, and to make financial decisions with confidence . it reduces the inequity associated with arbitrary redistributions of income caused by unexpected changes in inflation . it also makes the economy more resilient to shocks and enhances the effectiveness of monetary policy 6 Monetary policy: Low and stable inflation 12-month rate of increase, monthly data % 14 12 10 8 6 4 2 0 -2 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Inflation target CPI Sources: Statistics Canada and Bank of Canada calculations Last observation: December 2013 7 Central bank policy rates dropped to historic lows during the recession Policy interest rates, daily data % 5.0 4.0 3.0 2.0 1.0 0.0 2008 2009 2010 2011 2012 2013 2014 Canada United States Euro area Japan Sources: Bank of Canada, U.S.
  • WHY DID the BANK of in Financial Markets and Monetary Economics

    WHY DID the BANK of in Financial Markets and Monetary Economics

    NBER WORKING PAPER SERIES WHY DIDTHEBANK OF CANADA EMERGE IN 1935? Michael Bordo Angela Redish Working Paper No. 2079 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 November 1986 The research reported here is part of the NBER's research program in Financial Markets and Monetary Economics. Any opinions expressed are those of the authors and not those of the National Bureau of Economic Research. NBER Working Paper #2079 November 1986 Why Did the Bank of Canada Emerge in 1935? ABSTRACT Three possible explanations for the emergence of the Canadian central bank in 1935 are examined: that it reflected the need of competitive banking systems for a lender of the last resort; that it was necessary to anchor the unregulated Canadian monetary system after the abandonment of the gold standard in 1929; and that it was a response to political rather than purely economic pressures. Evidence from a variety of sources (contemporary statements to a Royal Comission, the correspondence of chartered bankers, newspaper reports, academic writings and the estimation of time series econometric models) rejects the first two hypotheses and supports the third. Michael D. Bordo Angela Redish Department of Economics Department of Economics College of Business Administration University of British Columbia University of South CArolina Vancouver, B.C. V6T lY2 Columbia, SC 29208 Canada Why Did the Bank of Canada Emeroe in 1935? Michael D. Bordo and Angela Redish Three possible explanations for the emergence of the Canadian central bank in 1935 are examined: that it reflected the need of competitive banking systems for a lender of last resort; that it was necessary to anchor the unregulated Canadian monetary system after the abandonment of the gold standard in 1929; and that it was a response to political rather than purely economic pressures.
  • 2020-21 First Quarter Fiscal Update and Economic Statement

    2020-21 First Quarter Fiscal Update and Economic Statement

    GOVERNMENT OF ALBERTA 2020-21 First Quarter Fiscal Update and Economic Statement August 2020 Table of Contents 2020-21 First Quarter Fiscal Plan Highlights . 3 Revenue and Expense Highlights . 4 Assets and Liabilities . 6 Balance Sheet Summary .......................................................... 6 Revenue . 7 Operating Expense by Ministry . 8 Debt Servicing Costs . 8 Contingency / Disaster and Emergency Assistance Expense . 9 Capital Amortization Expense . 9 Borrowing Requirements / Borrowing Sources . 9 Cash Adjustments / Borrowing Requirements . 10 Inventory Consumption Expense / Inventory Acquisition . 10 Capital Plan Highlights . 11 Capital Plan Summary ........................................................... 11 Economic Update . 12 Key Energy and Economic Assumptions .............................................. 15 Fiscal Stabilization Program . 16 Alberta’s Tax Advantage . 17 Reporting Methodology and Legislative Compliance . 18 (Note: Amounts presented in tables may not add to totals due to rounding.) Treasury Board and Finance, Government of Alberta August, 2020 2020–21 First Quarter Fiscal Update and Economic Statement Additional copies of this report may be obtained by visiting our website at: www.alberta.ca/budget-documents.aspx 2 2020 –21 First Quarter Fiscal Update and Economic Statement 2020-21 First Quarter Fiscal Plan Highlights Alberta’s Budget 2020 was presented on COVID-19, and support Albertans, is being added to expense in 2020-21, as February 27, 2020, just prior to the Alberta businesses and the economy.
  • The National Bank of Canada Accelerates Deployments at Scale

    The National Bank of Canada Accelerates Deployments at Scale

    The National Bank of Canada Accelerates Deployments at Scale About National Bank Executive Summary of Canada The National Bank of Canada (NBC), the country’s sixth-largest commercial bank, set out to transform its infrastructure for speed and scale. NBC’s ultimate goal was to dedicate more of the organization’s time and resources to business innovation instead of infrastructure management. By shifting away from an on-premises installation of its core trading solution, Murex’s MX.3 platform, the bank was able to provision new instances in minutes instead of months and gain better visibility into costs. NBC now runs its non-production MX.3 environments exclusively on Amazon EC2 instances. A Commercial Bank Seeks an Easier-to-Manage Solution The National Bank of Canada (NBC), one of Canada’s largest financial services organizations, wanted to optimize its existing on-premises installation of MX.3, an open platform from Murex that supports trading, treasury, risk, and post-trade operations. The National Bank of Canada Across the numerous projects in parallel, MX.3 ran on more than 100 servers in the bank’s own data center. NBC spent significant time and resources managing and upgrading this (NBC) is the sixth-largest on-premises infrastructure, making deployments of new installations a complex, nearly commercial bank in Canada, impossible process. “We wanted to scale the infrastructure to provision environments to with 2.4 million customers meet growing business needs. The business continued to enhance MX.3 and create new and branches in most projects, but it typically took weeks or months to order, procure, and implement new Canadian provinces.
  • 64 Canadian Banks and Their Branches

    64 Canadian Banks and Their Branches

    64 Canadian Banks and their Branches. Location. Bank. Manager or Agent. Halifax People's Bank of Halifax, head office . Peter Jack, cashr. Bank of British North America Jeffry Penfold. Bank of Montreal F. Gundry. Hamilton . Canadian Bank of Commerce John C. Kemp. Bank of Hamilton H.C. HammondjCshr. Bank of Montreal T. R. Christian. Merchants'Bank of Canada A. M. Crombie. Bank of British North America Thomas Corsan. Consolidated Bank of Canada J. M. Burns. Exchange Bank of Canada C. M. Counsell. Ingersoll., The Molsons Bank W. Dempster. Merchants' Bank of Canada D. Miller. Imperial C. S. Hoare. Joliette . Hochelaga Bank N. Boire. Exchange Bank of Canada R. Terroux, jnr. Kingston . Bank of British North America G. Durnford. Bank of Montreal K. M. Moore. Merchants' Bank of Canada D. Fraser. Kincardine Merchants' Bank of Canada T. B. P. Trew. Kentville, N. S.. Bank of Nova Scotia L. O. V. Chipman. Liverpool, N. S.. Bank of Liverpool R, S. Sternes, cshr. Lockport People's Bank of Halifax Austin Locke. Lunenburg Merchants' Bank of Halifax Austin Locke. Listowell Hamilton Bank W. Corbould Levis Merchants' Bank I. Wells. London Merchants'Bank of Canada W. F. Harper. Bank of Montreal F. A. Despard. Canadian Bank of Commerce H. W. Smylie. Bank of British North America Oswald Weir. The Molsons Bank. Joseph Jeffrey. Federal Bank of Canada Charles Murray. Standard Bank A. H. Ireland. Lindsay. Bankol Montreal , C. M. Porteous. Ontario Bank S. A. McMurtry. Lucan Canada Bank of Commerce J. E. Thomas. Maitland, N. S. Merchants' Bank of Halifax David Frieze. Markliam Standard Bank F.
  • U.S. & Canadian

    U.S. & Canadian

    U.S. & Canadian Coin Inserts In this free coin insert pack, you'll find: •U.S. coin amount inserts •U.S. coin name inserts •U.S. coins {front and back} with names for penny, nickel, dime, quarter, half dollar, the Sacagawea dollar •U.S. coins {front and back} without names •Canadian coin amount inserts for penny, nickel, dime, quarter, Loonie, and Toonie •Canadian coin name inserts •Canadian coins {fronts} with names •Canadian coins {fronts} without names Make learning about money more HANDS-ON by inserting the coin inserts into your pocket cubes. You can roll and match the coins, names, or amounts! Fun! Be sure to visit This Reading Mama! Terms of Use: This printable pack was created for you to use at home with your child/students or with multiple children in a classroom/tutoring setting. Please do not sell, host, reproduce, giveaway, or store on any other site (including a blog, Facebook, 4Shared, Dropbox, etc.). Thank you! You May Also Like Let’s Connect! Blog: www.thisreadingmama.com Subscribe to my Newsletter: HERE TpT: /This-Reading-Mama Facebook: /thisreadingmama Pinterest: /thisreadingmama Twitter: @thisreadingmama Email: [email protected] U.S. Coin Pocket Cube Inserts www.thisreadingmama.com 1¢ 5¢ Mama Reading ©This www.thisreadingmama.com www.thisreadingmama.com 10¢ 25¢ www.thisreadingmama.com www.thisreadingmama.com 50¢ $1.00 www.thisreadingmama.com www.thisreadingmama.com U.S. Coins Inserts Nickel Penny Mama Reading ©This www.thisreadingmama.com www.thisreadingmama.com Dime Quarter www.thisreadingmama.com www.thisreadingmama.com Half Sacagawea Name Inserts Name - Dollar Dollar www.thisreadingmama.com www.thisreadingmama.com U.S.
  • Karryl MMM...Tasty

    Karryl MMM...Tasty

    KARRYL “It’s late afternoon and I’ve found a sheltered spot to stop and just watch. An individual comes by, then another. More wander through MMM...Tasty the open area - young, old, small groups chattering, some teasing, Bronze pushing, just touching. Some walk silently close together, wise 14.5” x 20” x 6” expressive faces. A few stop to rest. One slows to ponder her tasty treat; a troop of baboons wandering by. ‘My pieces capture a moment in time in order to bring others to a closer awareness and appreciation of the natural world.’” 125 book_12May08.indd 125 19/05/2008 12:01:09 AM “This piece represents the amalgamation of my passions – drawing, experimenting with different techniques, depicting subjects up close, travelling, and birds of prey – in a unique way. While drawing is often associated with pencil on paper, I drew onto a board toned with thin acrylic washes, then created layers using erasers and scalpels to remove pencil before applying more graphite. And, although portraits traditionally show one subject on a plain background, I combined multiple poses, sizes, and light sources, concentrating on directing the viewer’s gaze from one pose to the next. Furthermore, spending weeks under an active Harpy Eagle nest during the AFC Expedition was an unforgettable experience, as I had always dreamed of observing the most powerful bird of prey in its natural habitat. By portraying this threatened species, I hope to increase awareness of the key role its conservation plays in the maintenance of a healthy ecosystem. I often say that my ‘best painting’ will be my ‘next one’.
  • Commercial Rents in Key Canadian Economic Markets, Fourth Quarter 2020 Released at 8:30 A.M

    Commercial Rents in Key Canadian Economic Markets, Fourth Quarter 2020 Released at 8:30 A.M

    Commercial rents in key Canadian economic markets, fourth quarter 2020 Released at 8:30 a.m. Eastern time in The Daily, Thursday, February 25, 2021 Commercial rents fell 0.6% in the fourth quarter, following a 0.5% (revised from +0.7%) increase in the third quarter. The decline was concentrated in the retail sector, where rents are tied to retail sales. Retail revenue fell sharply in the fall during the resurgence of the COVID-19 pandemic, following the shutdown of non-essential businesses in many regions of the country. Commercial rents fall in the fourth quarter Nationally, commercial rents decreased by 0.6% from the third to the fourth quarter. Lower rents for retail buildings (-4.0%) more than offset higher rents for industrial buildings and warehouses (+2.2%) and office buildings (+0.5%). Retail building rents generally rise in the fourth quarter in tandem with the Christmas shopping season, as a portion of those rents is tied to retail sales. However, retail rents fell 4.0% in 2020, mostly because of large base rent concessions and discounts given by landlords during the onset of the resurgence of the pandemic; this brought rents down 4.5% from September to October. Retail rents rose 1.9% in November and edged down 0.1% in December. Office rents edged up 0.5% in the fourth quarter, following the phasing out of rent rebates and deferrals by landlords in the sector. With the resurgence of e-commerce sales in November and December, coupled with strong wholesale and manufacturing sectors, demand for inventory space continued to grow.
  • Money and Monetary Policy in Canada

    Money and Monetary Policy in Canada

    MONEY AND MONETARY POLICY IN CANADA MODULE 8: EXCHANGE RATES . “Money and Monetary Policy In Canada” by Gary Rabbior A publication of the Canadian Foundation for Economic Education Supported by the Bank of Canada Telephone 1-888-570-7610 110 Eglinton Ave. W. Suite 201 www.cfee.org Fax 416-968-0488 Toronto, ON, M4R 1A3 [email protected] TABLE OF CONTENTS Contents 8.1 The International Exchange of Currencies ______________________________________ 1 8.2 The Exchange Rate _______________________________________________________ 3 8.3 Canada's Economy—Relatively Open and Relatively Small ________________________ 6 8.4 Who Buys and Sells Canadian Dollars? ______________________________________ 10 8.5 Factors Influencing the Buying and Selling of Our Dollar __________________________ 12 8.6 Should One Canadian Dollar Equal One U.S. Dollar? ____________________________ 19 8.7 The Bank of Canada and the Exchange Rate __________________________________ 21 8.8 Fixed Versus Flexible Exchange Rates _______________________________________ 22 Pg. 01 8.1 THE INTERNATIONAL EXCHANGE OF CURRENCIES 8.1 THE INTERNATIONAL EXCHANGE OF CURRENCIES The Value of Our Money Is Important to Canadians Canadians have a keen interest in the value and purchasing power of their money. Its value affects our ability to buy goods and services produced here at home. Canadians also buy goods and services from other countries. They don’t usually buy them directly from foreign producers—although that is becoming much more common with online shopping. But they do buy imported goods from retailers in Canada who bought them from foreign producers. Either way, Canadians spend a lot of money on imported goods and services. Economic Why Do Canadians Buy Goods and Services Produced in Insight: why Other Countries? Canadians buy There are various reasons why Canadians buy goods and services produced in other countries, such as: goods and services from • Some goods—for example, bananas—are simply not produced here in Canada.
  • Banknotes and the Nation

    Banknotes and the Nation

    Andrew Champagne At the Intersection of Place Branding and Political Branding: Canadian Banknote Iconography and Political Priorities Abstract In 2012, the Bank of Canada began to release a new series of banknotes into circulation. Made of polymer and expected to last 2.5 times longer than previous versions, according to the Bank, these banknotes represent leading-edge technology and will expand the frontiers of banknote security. At the same time, compared to the previous “Canadian Journey” series, the overall iconography of the “Frontier” series has been noticeably changed. Over the course of their lifespan, more international visitors will be informed and influenced by Canadian banknote iconography than will Canadians. Throughout this article, I argue that the iconography of the “Frontier” series of banknotes is as much an expression of state power over a defined territory and its people, as it is a means to promote a particular view of Canada - both at home and abroad – that corresponds with the Conservative government of Stephen Harper’s political priorities and values. Considering that the Minister of Finance has authority over the “form and material” of the final design of all banknotes, I argue that Canadian banknote iconography is being used as an explicit means of political branding. In support of this, it is demonstrated that currency is increasingly being used as a means of mass communication more generally and through a quantitative content analysis of all banknotes produced by the central banks of Canada, Australia, New Zealand, and South Africa; I argue that there can be two different categories of banknote iconography, political and non-political.
  • Directors As of October 31, 1997

    Directors As of October 31, 1997

    directors as of October 31, 1997 Directors JOHN E. CLEGHORN, F.C.A. L.YVES FORTIER, C.C., Q.C. GUY SAINT-PIERRE,O.C. (1990) April 1995, was President of McCain (1987) (1992) Montreal Foods Limited, Mr. David P.O’Brien Toronto Montreal Chairman of the Board who, prior to May 1996, was President Chairman and Chairman SNC-Lavalin Group Inc. and Chief Operating Officer of Canadian Pacific Limited, prior to February 1995, Chief Executive Officer Ogilvy Renault ROBERT T.STEWART (1988) was Chairman and Chief Executive Royal Bank of Canada THE HON. PAULE GAUTHIER, Vancouver Officer of Pan Canadian Petroleum Limited and prior to December 1994 THEODORE M.ALLEN (1992) P.C., O.C., Q.C. (1991) Company Director was Chairman, President and Chief Winnipeg Quebec City ALLAN R.TAYLOR, O.C. (1983) Executive Officer of Pan Canadian President and Partner Toronto Petroleum Limited, Mr. Robert B. Chairman of the Board Desjardins Ducharme Stein Retired Chairman and Peterson who, prior to July 1994, was United Grain Growers Limited Monast Chairman and Chief Executive Officer Chief Executive Officer and prior to September 1992 was * SIR JAMES BALL (1990) * CHARLES H. KNIGHT (1983) Royal Bank of Canada President and Chief Operating Officer London, England Regina of Imperial Oil Limited, Mr. Hartley T. JOHN A.TORY,Q.C. (1971) Emeritus Professor Chief Executive Officer Richardson who, prior to April 1993, Toronto London Business School Denro Holdings Ltd. was President of the Real Estate Division Deputy Chairman of James Richardson & Sons, Limited, JACQUES BOUGIE, O.C. (1991) * THE HON. E. PETER The Thomson Corporation Mr.
  • Canadian Money

    Canadian Money

    Canadian Money Grades 1 to 2 Written by Leanne Howse Learning how to count money is an important skill as we need money to buy some of our favourite things! This resource is packed with worksheets and activities that allow students to practice important concepts involving money to meet expectations of the grade 1 and 2 Ontario Mathematics Curriculum. Concepts covered include: identifying Canadian coins and their value; representing money amounts in one or more ways; counting on to find the total value of a collection of coins; adding and subtracting money amounts; solving problems involving money. Assessments that can be used at the end of the math unit are included for each grade along with a marking rubric. Leanne Howse has been teaching since 1999. Although she has had experience in all elementary grades, she has found true joy in teaching primary students. She currently teaches grade 1/2. Although teaching is her passion, she enjoys creating resources that other teachers can use in their classrooms. She resides in Delhi, Ontario with her husband and 2 children. Copyright © On The Mark Press 2015 This publication may be reproduced under licence from Access Copyright, or with the express written permission of On The Mark Press, or as permitted by law. All rights are otherwise reserved, and no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, scanning, recording or otherwise, except as specifically authorized. “We acknowledge the