EDMONTON REAL ESTATE @EdmontonRealty

OTTAWA — For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate by 25 basis points to 0.50%, as the domestic economy rebounds strongly against the backdrop of an “uneven” global recovery. However, it signalled in its accompanying statement there is “considerable uncertainty” in the economic outlook given fiscal and financial unrest in Europe. As a result, further rate hikes “have to be weighed carefully” against global and domestic developments. “This decision still leaves considerable monetary stimulus in place, consistent with achieving the 2% inflation target in light of the significant excess supply in Canada, the strength of domestic spending and the uneven global recovery,” the central bank, led by governor Mark Carney, said. That led some analysts to suggest there is no guarantee the central bank would raise rates again at its next scheduled meeting in mid-July. “The July meeting is not a slam dunk,” said Jonathan Basile, an ...

Bank of Canada sees business outlook improving OTTAWA — Hiring intentions by Canadian companies over the coming year rebounded strongly in the fourth quarter, according to the Bank of Canada's quarterly business outlook survey released Monday. Furthermore, the bulk of Canadian firms suggested they still plan to increase their capital investment in the next 12 months in an effort to become more competitive and pursue new markets. The latest optimism about capital spending and hiring plans is "supported in part by firms' efforts to become more competitive and to create new growth opportunities, or by their expectations that demand will continue to improve over the next 12 months," the Bank of Canada said of its latest findings. A separate survey of senior loan officers suggested business-lending conditions have improved, due to heightened competition among lenders and a more favourable economic outlook. Business demand also appears to be picking up. Comp...

Rising oil price improves job outlook for Alberta workers From where Bradley Jacques stands, there are just too many other workers in the same position as he - out looking for a steady paycheque in Calgary. "It's really hard to get good, honest work out here. You have to go for a lot of sub-contracting and labour," said the 27-year-old, who moved to the city from Medicine Hat six months ago to look for a construction job. "There's not enough stuff that's full-time work," he added. "Ever since we got hit by the last recession, it's been like this." Although Jacques might not be seeing it on the building sites of Calgary, yet, most observers believe the employment prospects for Albertans will improve in a slow, steady fashion this year. The province's economy in 2011 will be tempered by natural gas prices - projected to remain low - but the price of oil will pull workers and businesses ahead. "The coming year clearly is...