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11-010-XIB |
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Economic Events in September Canada The Bank of Canada raised its key rate by a quarter point to 2.25%, and banks nudged their prime rate to 4%. Governments announced $800 million in aid for beef farmers due to the continued ban on cattle exports to the US. Employees of several federal departments began rotating strikes. A five-month strike at Aliant ended for 4,300 workers. A seven-week strike ended at the uranium producer Cameco. Domtar announced plans to temporarily shut two Quebec lumber mills due to a blockade. The Canadian Transportation Agency granted approval for airlines to increase fuel surcharges levied on passengers. WorldOil prices reached a record $50 US a barrel on world markets at month-end. The Federal Reserve raised its benchmark rate by a quarter point to 1.75% on September 21, its third hike this year. Hurricane Jeanne was the fourth major storm to hit Florida this season, bringing the estimated total damage to $20 billion (US). |
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