Central bank holds interest rate at 1 per cent

OTTAWA – The Bank of Canada is keeping interest rates at  super-low levels and giving no hints as to when it might once again begin raising them.

That means the central bank’s trendsetting rate will remain at one per cent until at least July 19, and if analysts are right, likely longer.

It is the sixth consecutive interest rate setting that central bank governor Mark Carney has let come and go without changing rates.

Carney says the risks to the economic recovery remain, but that the expansion is proceeding pretty much as expected.

And he says while inflation will continue above three per cent in the short term, it should track back to the desirable two per cent level by the middle of next year.

Posted via email from Selling Cambridge with Clare DeJong

CARING

No organization cares about you. Organizations aren't capable of this.
Your bank, certainly, doesn't care. Neither does your HMO or even your car dealer. It's amazing to me that people are surprised to discover this fact.
People, on the other hand, are perfectly capable of caring. It's part of being a human. It's only when organizational demands and regulations get in the way that the caring fades.
If you want to build a caring organization, you need to fill it with caring people and then get out of their way. When your organization punishes people for caring, don't be surprised when people stop caring.
When you free your employees to act like people (as opposed to cogs in a profit-maximizing efficient machine) then the caring can't help but happen.

 

From: Seth Godin

Posted via email from Selling Cambridge with Clare DeJong

CambridgeTimes Article: Galt revamp begins with terminal

Check out this website I found at cambridgetimes.ca

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DO YOU HAVE PATIENCE???? WE CAN FINALLY GET TO TIMMIE'S QUICKER ONCE IT'S ALL DONE!

Cambridge motorists, get ready: Hespeler Road bridge work starts Monday

Construction about to begin Expect traffic tie ups as construction begins Monday on a bridge over the train tracks at Hespeler Road near the delta in Cambridge.

Philip Walker/Record staff

CAMBRIDGE — After two decades of waiting, work is expected to start Monday morning on a bridge to carry Hespeler Road over the busy Canadian Pacific Railway tracks.

Signs have been up for a week warning motorists to expect traffic delays during the 18-month, $25 million project that includes a new bridge up and over lowered tracks. Preparation work to move buried wires and utilities, and demolish a church, have caused some traffic delays over the last few months just north of The Delta intersection — one of the busiest crossroads in Waterloo Region.

Before starting to build the bridge, Dufferin Construction must create diversion traffic lanes to the west side of Hespeler Road. Temporary railway crossing gates will be installed, since the tracks stay in operation throughout the job serving the Toyota car factory in north Preston.

In a month or so, a giant auger will move in to bore holes for concrete bridge footings. That will take much of the summer. It involves up to 60 overnight work sessions with lane closures.

The goal is to keep four-lane Hespeler Road open during morning and afternoon rush hours, although lanes will be narrower than usual. Mid-day, evenings and overnight, lanes may close to give equipment room to work. Pedestrian access will also be maintained during the work, officials promise.

In spring 2012, when the east half of the bridge is done a several-day, complete shut-down of Hespeler Road is planned, to allow the switchover of trains from old tracks to new.

That’s also when Hespeler Road traffic will move onto half of the new bridge, giving room for workers to finish the western half of the bridge by the end of 2012.

Posted via email from Selling Cambridge with Clare DeJong

First-time buyers strive to get ahead of higher interest rates (TAG: real estate, buyers, mortgage rates, markets, RE/MAX))

Driven by the potential of higher interest rates in the future, first-time buyers are contributing to a strong upward momentum in residential housing markets across the country, according to a recent RE/MAX report. The RE/MAX First-Time Buyers 2011 Report, highlighting trends and developments in 19 major Canadian centres, finds that low interest rates and balanced market conditions have provided a significant push in 2011, particularly at lower price points. Slightly more than 30 per cent of markets across the country are reporting sales in excess of 2010 levels as a result, while almost 70 per cent have experienced an upswing in average price. To view the complete report, visit www.remax.ca and click on Re/Source Centre and then on Media Room.

Posted via email from Selling Cambridge with Clare DeJong

Cambridge is growing! New school being built!

School board unveils plans for school

Public school board officials were at city hall Tuesday night to unveil plans for a new school in southeast Galt.

School board planner Chris Smith told council the $12.4-million Moffat Creek Public School would be built on a vacant site between Dundas Street and Myers Road on the edge of a provincially-significant wetland area.

The school board is proposing to build the school into a hillside. It would be three storeys in height and designed to accommodate 640 elementary pupils from junior kindergarten to Grade 8.

In order for the plan to go forward, the school board needs a zone change on the property. The site is currently zoned for residential development. The board also requires a zoning change of an environmentally sensitive area into open space.

The board is already working with Grand River Conservation Authority to develop a site plan for the property that will protect a stream and wetlands at the edge of the site. It is also asking the city to set aside its rules requiring a chain-link fence be installed along the edge of the property.

Officials said a chain link fence doesn’t fit in with its efforts to preserve the wetland area. It has requested a farm-style fence.

City staff will review the proposal and make a recommendation to council.

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ONTARIO ECONOMY SET TO GROW IN 2011

Ontario’s economy has picked up and posted its best performance since 2002, according to the latest Provincial Economic Outlook report by RBC Economics. Even better news, according to the report, is that the province's economy is expected to enter an expansion phase this year as it finally moves beyond recovery from its 2008-2009 recession losses.

Thanks to a number of positive economic indicators in the past several months, the RBC report says Ontario's real GDP (gross domestic product) is forecast to grow by 3.1 per cent in 2011. Some positive indicators include: the impressive gains by the provincial labour market since late summer and early fall of 2010; the growth of consumer retail sales at the fastest rate in years; and non-residential investment maintaining its second fastest rate of increase since early 2006. In addition, merchandise exports recently regained ground while motor vehicle production surged in January.

"Generally, conditions are expected to continue to improve this year, enabling the province to complete its recovery and start to expand again," said Craig Wright, senior vice-president and chief economist, RBC. "This next stage of Ontario's economic cycle will increasingly rest on strengthening demand from the United States, which we forecast will grow faster in 2011 than it did in 2010 (3.4 per cent up from 2.8 per cent)." Of particular importance for the province is the expectation of continued increases in U.S. motor vehicle sales, which are projected to rise by nearly 15 per cent to 13.2 million units this year.

The RBC report notes, however, that the anticipated levelling-off of capital investment in various public infrastructure projects will be a restraining factor on provincial growth this year. "Public capital spending will contribute significantly less to growth this year than it did in 2010; yet further strong increases in transportation-related outlays, including public transit, will maintain a high level of activity overall," explains Wright.

Overall, Ontario’s domestic economy has performed quite strongly in the recovery so far. In fact, final domestic demand surpassed pre-recession peaks at the start of last year and has moved further above that ever since.

With the majority of economic indicators pointed in a positive direction, RBC also forecasts Ontario's economy to grow by another 3.1 per cent in 2012 as stronger external trade performance lends further support to the expansion. For more information or to view the full report visit www.rbc.com/economics/index.htm.

 

via Realtor Edge Newsletter May 2011

Posted via email from Selling Cambridge with Clare DeJong