Finance minister ‘overstepped’ by wading into central bank’s domain: expert + MORE Jul 26th

OTTAWA – The federal finance minister raised eyebrows last week by publicly sharing his opinion on monetary policy — not necessarily because of his view on the matter, but because some believe he ventured too far onto the Bank of Canada’s turf.
In response to a reporter’s question, Joe Oliver said the policy measure known as quantitative easing was “not on the table” as a response to Canada’s ongoing economic downturn.
The comment has prompted questions about whether the territorial line between the Conservative government and the central bank has been blurred.
Technically, it’s Bank of Canada governor Stephen Poloz’s call whether to implement quantitative easing, where central banks buy government assets and other securities to boost the supply of money.
“I thought that Minister Oliver overstepped when ruling out (quantitative easing) because it’s not his decision,” said Ian Lee, an economics professor at Carleton University’s Sprott School of Business…

A rate hike from 0 to 0.25 per cent would be the first rate change of any kind since the Fed cut rates during the financial crisis

Marc Cohodes used to run one of the biggest U.S. hedge funds specializing in short selling. Recently, he’s emerged as one of the most vocal critics of Canada’s housing market, aiming his efforts at one company: Home Capital Group

TORONTO – A slew of Canadian companies report their second-quarter earnings this week. Here are five sectors to watch:
Oil and gas: A number of oilpatch companies that have been battered by the slump in crude prices are out with their results this week. They include Imperial Oil, Suncor, Cenovus, Enbridge and TransCanada. The price of oil has slumped below the US$50 mark in recent days, grim news for Canada’s oil companies, not to mention the Canadian dollar.
Food: Restaurant Brands International, the owner of Tim Hortons and Burger King, reports its second-quarter results on Monday, one of several Canadian food/restaurant giants reporting over the week. Maple Leaf Foods, the country’s largest food producer, and baked-goods giant George Weston are also out with their results on Thursday and Friday respectively. Maple Leaf reported a profit in the first quarter as it neared the completion of a long-term plan to replace old meat-processing plants with modern facilities.
Media: Torstar is out with results on Wednesday, followed by Quebecor a day later…

 
Minister of Finance Joe Oliver delivers the federal budget in the House of Common on Parliament Hill in Ottawa on Tuesday, April 21, 2015. (Adrian Wyld/CP)
OTTAWA — The federal finance minister raised eyebrows last week by publicly sharing his opinion on monetary policy — not necessarily because of his view on the matter, but because some believe he ventured too far onto the Bank of Canada’s turf.
In response to a reporter’s question, Joe Oliver said the policy measure known as quantitative easing was “not on the table” as a response to Canada’s ongoing economic downturn.
The comment has prompted questions about whether the territorial line between the Conservative government and the central bank has been blurred.
Technically, it’s Bank of Canada governor Stephen Poloz’s call whether to implement quantitative easing, where central banks buy government assets and other securities to boost the supply of money.
“I thought that Minister Oliver overstepped when ruling out (quantitative easing) because it’s not his decision,” said Ian Lee, an economics professor at Carleton University’s Sprott School of Business…