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History of Canadian Finance/Banking TimeToast Project 2001-2006 (Chris Wang)
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Bombardier Wins Contract
Bombardier announced that it had won a $2.6 billion contract to supply 75 regional jets to Northwest Airlines in the US. -
Softwood Lumber Duty Imposed
The United States Commerce Department announced that it would impose a 19.3% duty on Canadian softwood lumber. Canadians vowed to fight the unfair measure. -
The bubble in high-tech stocks finally burst in late 2000
The large loss of wealth as these stocks collapsed and the sudden drop in investment by these companies sent the US economy into recession in the first three quarters of 2001, and Canada's exports fell 5.3% during this period. The extraordinary stimulus from monetary and fiscal policy after the September 11 terrorist attacks on the US helped revive demand late in 2001, followed by an upturn in jobs early in 2002. -
Terrorist attacks in the United States
First, it provides a timely boost to the economy at a time of global economic weakness and uncertainty, enabling Canadians to take full advantage of the expected economic recovery next year; Second, it builds personal and economic security by keeping Canadians safe and preventing terrorists from entering. Secondly, it builds personal and economic security by keeping Canadians safe from terrorists and by keeping our borders open and efficient; -
Economic growth in 2002
Economic growth in 2002-2003 The Canadian economy experienced relatively strong growth due to higher commodity prices, the recovery of the U.S. economy and low interest rates. -
Ontario's GDP declined in 2003
From the SARS and "mad cow" disease outbreaks to Hurricane Juan and the Ontario blackout. 4 The end result was a four-month decline in real GDP in March and April, followed by a 0.9 percent decline during the August blackout. GDP fell 0.1% in the first quarter, but jobs were unchanged in the second quarter. -
Cheque Imgaging
Royal Bank is Canada's first bank to offer digital images of paper cheques online -
Chinese Begin Investing in Alberta’s Oil Sands
China National Offshore Oil Corp (or CNOOC) is the first Chinese company to invest in Alberta’s oil sands with the purchase of a 16.7 per cent share of MEG Energy Corp. China's two other state-controlled oil companies, PetroChina and Sinopec, would also purchase shares in other oil sand companies by 2009. -
One of the most stable periods of economic growth
2006 Output growth began to slow in the spring and employment decelerated in the summer. Real GDP growth slowed to 0.1 percent in the second and third quarters. The slowdown appeared to be rooted in unusual events, including a reduction in the GST rate on July 1. However, this growth stagnation was mild and growth rebounded quickly. Employment growth was less impacted, with a minimum 0.3% increase in the third quarter. -
Inflation in 2006
At the time of the last update in 2006, the effectiveness of Canada's inflation targeting regime was well established. Key expected benefits of the system
The main intended benefits of the regime have been realized and, in some cases, exceeded. Inflation
declined rapidly after the introduction of the target, averaging close to 2% between 1991 and 2006.