As financial market conditions improve, the Bank of Canada is scaling back some measures it introduced in the immediate aftermath of the coronavirus outbreak to support the functioning of financial markets. With the use of certain programs declining, the central bank is discontinuing the bankers’ acceptance purchase facility and its Canada mortgage bond purchase program, […]
Canada’s headline inflation measure went up in September by 0.5 per cent compared with a year ago, a better-than-expected increase, but one that experts say won’t sway the Bank of Canada’s stimulus measures. Economists had, on average, expected a year-over-year increase of 0.4 per cent, according to financial data firm Refinitiv, following readings of 0.1 […]
Canadian workers and companies expect wage growth to stay low over the coming year over heightened uncertainty from the coronavirus pandemic, the Bank of Canada says in two new reports. The central bank’s business outlook survey finds that wage growth is widely expected to slow over the next year, with some firms reporting a wage […]
Pandemic-related shifts in how people shop, sending more people into cyberspace than a physical space, means central banks must speed up work on creating their own digital currencies, says a top Bank of Canada official. The coronavirus has meant more people are shopping online, and foot traffic for brick-and-mortar storefronts hasn’t caught up to pre-pandemic […]
The governor of the Bank of Canada said managing the risks from the pandemic is more critical than ever and it is key to a recovery and the stability of society. Tiff Macklem said in a Thursday morning speech that a second historic recession in just over a decade underlines how managing financial system risks […]
Former Bank of Canada governor Mark Carney is joining an advisory board for the Pacific Investment Management Co. PIMCO chief executive Emmanuel Roman says the California-based investment manager sought Carney for its global advisory board because of his extensive experience as an economist and central banker. The board he joins is comprised of seven members […]
The Bank of Canada sought Wednesday to temper economic excitement about a sharper-than-expected rebound from the depths of the coronavirus crisis, pointing to worrying trends that signal all is still not well. In a statement, the central bank’s governing council said the bounce-back activity in the third quarter looks to be faster than it anticipated […]
The head of the Bank of Canada made an international pitch to his fellow central bankers on Thursday to forge closer ties with average citizens to manage economic expectations through the pandemic, or risk losing public trust and face an existential crisis. Speaking remotely at an annual gathering usually hosted in Jackson Hole, Wyo., governor […]
The second-in-command at the Bank of Canada said Wednesday that any changes to the underpinning of its monetary policy will be judged against how they affect the distribution of income and wealth in this country. Senior deputy governor Carolyn Wilkins said the various frameworks the bank is considering are also being tested for how they […]
Mark Carney will lead a team at Brookfield Asset Management focused on investing in positive environmental, social and governance changes, the alternative asset manager said Wednesday. The former governor of the Bank of Canada and Bank of England will join the firm as vice-chair and head of ESG and impact fund investing. Brookfield said Carney, […]