BoC: Sub-zero inflation rate may hit in Q2

ANDY BLATCHFORD THE CANADIAN PRESS The Chronicle Herald, February 20, 2015 OTTAWA — The turbulence of the global oil slump could briefly nudge the Canadian inflation rate into negative territory this spring, a senior Bank of Canada official said Thursday. But deputy governor Agathe Cote offered some reassurance, saying that even if the annual rate dips below zero it would not be considered deflation. She noted that true deflation, which can be damaging for an economy, would require a period of widespread price declines. “Rest assured — even if infla­tion turns negative for some time that would not constitute defla­tion,”…

Report: N.S. prefers cheap to homegrown power

BUSINESS COLUMNIST ROGER TAYLOR r taylor@herald.ca @CH_RogerTaylor  The Chronicle Herald, February 20, 2015 Setting electricity policy in Nova Scotia is very complicated, mainly because the one thing everyone wants — lower power rates — is nearly impossible to attain. The Liberal government re­leased a draft report this week that tries to spell out what had been discussed during a consulta­tion process involving about 1,300 Nova Scotians last fall. Now the government is looking for more public input to make sure it’s getting it right. The Energy Department will use feedback it receives before March 18 to create a final report,…

Transfer tax cited in HRM deficit

Transportation, public works costs also contributed to $3.1m hit BRETT BUNDALE HALIFAX CITY HALL – bbundale@herald.ca @bbundale The Chronicle Herald, February 20, 2015 Halifax’s coffers dipped $3.1 mil­lion into the red at the end of December due to a drop in deed transfer tax revenues, cost over­runs at transportation and public works, and higher-than-expected operating costs at the new central library. The deed transfer tax, a 1.5 per cent levy on property sales in the municipality, brought in $4 mil­lion less than expected due to sluggish real estate sales, said a third-quarter financial report set to be discussed by council’s…

Most Killam buys in 2014 outside Atlantic region

PATRICIA BROOKS ARENBURG BUSINESS REPORTER  – pbrooks@herald.ca @CH_PBA The Chronicle Herald, February 19, 2015 Killam Properties Inc. bought $160 million in apartment proper­ties last year, including its first acquisition in Calgary, as part of its plan to invest in the west. “Geographic diversification is a key component of our corporate strategy,” Robert Richardson, executive vice-president and chief financial officer of the Halifax company, said during a confer­ence call Wednesday on the com­pany’s year-end and fourth­quarter results. The vast majority of Killam’s 2014 spending, which amounted to $134 million, or 84 per cent, involved investments outside of Atlantic Canada. The Calgary…