Complacency, competition, and Canada’s productivity crisis + MORE Oct 10th

A senior official at the Bank of Canada is calling for more competition in the banking sector to better serve Canadians and the economy. Senior deputy governor Carolyn Rogers laid out her case for a more competitive Canada in a speech at the Canadian Club in Toronto on Thursday morning. Rogers sounded the alarm in a speech last year on Canada’s productivity crisis, arguing that as business investment levels flagged, the resilience of the economy and Canadians’ quality of life were at risk. On Thursday, she said that issue took on greater urgency when the United States launched its trade war earlier this year.

Bigger thinking needed to fix Canada’s productivity crisis

A more productive economy is better equipped to handle that shock, Rogers argued, and competition is a path to productivity. “Higher productivity won’t make Canada immune to U.S. trade policy, but it would help buffer the effect of tariffs,” she said in prepared remarks.

Labour productivity—how much Canadian industry produces per hour worked—fell one per cent in the second quarter as trade uncertainty fuelled a slowdown in manufacturing output…

Here’s a round-up of news for Canadian investors this week.

Cineplex

Aritzia

Trilogy Metals

Barrick Mining

Cenovus-MEG Energy

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