| | Broomfield based ARCA biopharma Inc. announced Monday it will partner with medical device maker Medtronic Inc. on a clinical trial for ARCA's Gencaro, a beta blocker drug in development for the treatment of chronic heart failure. http://www.michaelkorssaleus.net/michael-kors-satchels-c-5.html Much of the money investigators said was spent on lavish trips, cars and even a private jet. http://www.michaelkorssaleus.net/michael-kors-totes-c-8.html Cheap Gucci Bags Average gas prices in the Bay Area have skyrocketed in the past month, jumping by 51 cents to $4.41 on average per gallon, according to a report released this week by AAA. B2b marketing tips By Marco R. della Cava, USA TODAY Gucci Handbags Sale Outlet Gucci Hobo/Shoulder Bags Womens Gucci Laptop Bags Bags Womens MICHAEL Michael Kors Large Fulton Pebbled Crossbody The Bank of Canada took markets by surprise Tuesday in sending a strong signal it is getting ready to raise interest rates based on improved prospects for the global and Canadian economies. ET release time, and it kept rising through much of the morning, hitting as high 101.76 cents US, up 1.73 cents, in morning trading. As expected, the bank kept the trendsetting target rate at one per cent where it has been since September 2010 but it was the language in the accompanying statement that caught investors off guard. light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the two per cent inflation target over the medium term, it said. Bank of Montreal economist Douglas Porter said he was surprised bank governor Mark Carney would send such a clear signal of intentions. expected a slight turn of the dial to the hawkish side, but this was a pretty serious amping up of the message, he said. more surprising was the signal that rates will soon need to rise. CIBC chief economist Avery Shenfeld said Carney prefers to given markets plenty of heads up to any change in policy direction, so the announcement could point to a possible fall tightening at the earliest. would interpret that as something on the order of three quarter point hikes (to 1.75 per cent) and then followed by another pause. Still, both said nothing is written in stone, noting that Carney signalled higher rates last spring only to be dissuaded when the European debt crisis flared. Some were even more skeptical. Capital Economics analyst David Madani said he suspects Carney may be trying to scare borrowers from taking on more debt. the bank did actually raise rates, we suspect that it would have to reverse course again pretty quickly as the housing market slumped, he said. The reaction of the Canadian dollar to even a hint of future rates hikes also cannot give Carney much comfort. The bank, as it has for many months, cited the strong dollar as a drag to economic growth. Raising rates will add more lift to the loonie, widening the spread with Canada major trading partner. Federal Reserve moves to raise its own rates. The counter to that argument is that Carney is dead serious when he calls household debt near a record 151 per cent of income the No. 1 domestic risk to economic recovery and has signalled he wants to discourage more borrowing. In Tuesday announcement, the governor made clear that inflation is more of a concern than he previously thought, and that the economy is doing better, both of which would indicate a tightening cycle if a modest and brief one is approaching. The bank now says the Canadian economy will likely expand by 2.4 per cent this year four tenths of a point faster than in its January forecast and will return to full capacity in the first half of 2013, three to six months ahead of pace. It has, however, downgraded 2013 growth by the same amount to 2.4. Essentially, the bank is expecting growth to happen faster, but not necessary be any stronger overall than its previous forecast. Coincidentally, the International Monetary Fund also upgraded Canada growth outlook for this year by four tenths of a point on Tuesday, although its expectation is more modest at 2.1 per cent, right on the consensus. economic momentum in Canada is slightly firmer than the bank had expected in January, the Bank of Canada explained. recovery more resilient and financial conditions more supportive than previously anticipated. According to the bank statement, the global economy has also improved and risks have moderated. growth profile is slightly stronger and economic activity in the emerging world is moderating but to a robust pace. Yet, Carney acknowledged that the improvements are modest and risks remain. The global economy is still underperforming and besides the usual suspects in debt strapped Europe, he cited the high price of oil, caused by political turmoil in the Middle East, as a new risk factor confronting future growth. particular, the international price of oil has risen further and is now considerably higher than that received by Canadian producers. If sustained, these oil price developments could dampen the improvement in economic momentum, the bank cautioned. For Canada, the bank said most of the future growth will come from domestic factors, with strong investments from businesses and robust household spending due to higher confidence and low interest rates. Exports are likely to remain weak, the bank said, given soft external markets and the high Canadian dollar.ｻｿBank of Canada keeps rate unchanged Certain terms and conditions apply. 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