Global financial crisis of 2008–2009: Difference between revisions

===Reports of economic activity, week of December 8===

On December 9, the [[Bank of Canada]] lowered its key interest rate by 0.75% to 1.5%, the lowest it had been since 1958; at the same time the Bank officially announced that Canada's economy was in recession.<ref>[http://www.google.com/hostednews/canadianpress/article/ALeqM5ia5C99Ii_uqnHOU7Jladal5X55qA ]{{Dead link|date=January 2009}}</ref> This move came after the news that Canada lost 70,600 jobs in the month of November, the most since 1982.<ref>{{cite news|first=Tavia |last=Grant |url=http://business.theglobeandmail.com/servlet/story/RTGAM.20081209.wmanpower1208/BNStory/Business/home |title=Canadian job cuts looming |publisher=Globe and Mail |date=2008-12-09 |accessdate=2009-01-12}}</ref> The official Bank of Canada press release stated that "[the] outlook for the world economy has deteriorated significantly and the global recession will be broader and deeper than previously anticipated."<ref>{{cite press release|url=http://www.bankofcanada.ca/en/fixed-dates/2008/rate_091208.html |title=Bank of Canada lowers overnight rate 2008 |location=OTTAWA |publisher=Bank of Canada |date=2008-12-09 |accessdate=2009-01-12}}</ref>

 

== Week of December 15 ==