Even with the world’s soundest banks, Stephen Poloz is grabbing a microphone to warn about risks to Canada’s economy.
The Bank of Canada governor, along with new Senior Deputy Governor Carolyn Wilkins, is taking the unprecedented step of holding a press conference June 12 after publishing the Financial System Review, a previously low-profile report that documents threats to the country’s economy and banking system.
With the world's oldest central bank - Sweden's Riksbank - taking the plunge into negative rates, there have been 19 'eases' by central banks this year, Morgan Stanley warns of "ghosts of the 1930s." With competitive 'easing' stoking fears of international currency wars, The Telegraph notes however that looser monetary policy is not the order of the day everywhere in the world, and herei
OTTAWA — Canada’s economy is increasingly being caught in the tail winds of the downward global spiral, but some of the country’s problems are also homegrown.
The Bank of Canada says low interest policies that it and other central banks have put in place are adding another layer of risk to the already stressed global financial system.
The Canadian central bank says near record level interest rates that have been in place since the 2008-09 recession are taking their toll on insurance companies, pension funds.
The BIS — the bank for central banks that, in a world characterized by heightened calls for transparency and accountability, remains completely opaque and unaccountable — is out with its latest annual report, and as usual, there’s quite a bit of no-nonsense analysis of the conditions facing global financial markets.
OTTAWA — Bank of Canada governor Stephen Poloz says the country’s recovery from the recession “has been a long voyage, and it isn’t over yet,” but there are signs the economy will gradually recover — even with the latest challenge of an oil-price collapse.
“We’ve been on a voyage of rebuilding since the Great Recession,” Poloz told a business audience Tuesday in Charlottetown in a speech Tuesday titled “The Way Home: Reading the Economic Signs.”
Europe could look to Canada as a model as the continent tries to avoid a “decade of stagnation,” Bank of Canada Governor Mark Carney said in his last scheduled public speech before taking over the Bank of England.
OTTAWA — The Bank of Canada may need to start hiking its trendsetting interest rate within the next year and steadily push it to 2.25% by the end of 2015, according to an international think-tank representing the world’s leading economies.
The central bank has kept its policy rate fixed at 1% since September 2010, leading to one of the most stable and favourable borrowing environments in many decades.
The International Monetary Fund sees the Federal Reserve maintaining large monthly bond purchases until at least the end of this year and urged the central bank to carefully manage its exit plan to avoid disrupting financial markets.
Unwinding a policy of record-low interest rates and US$85-billion in monthly bond-buying known as quantitative easing will be challenging even though the Fed has “a range of tools” to withdraw the stimulus, the IMF staff wrote in its annual assessment of the U.S. economy.