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Jordan Press, The Canadian Press

Canada’s top central banker is making a plea for the country to more quickly address the impacts of climate change to avoid any economic ripple effects on households and businesses. Tiff Macklem made the case in a speech Tuesday that Canada’s financial system needs to become as resilient to climate change as it has been […]

  • November 18, 2020 February 23, 2021
  • 09:49

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 […]

  • September 9, 2020 December 5, 2020
  • 12:42

The Canadian economy suffered its worst three-month stretch on record in the second quarter as the economy came to a near halt in April before starting to recover in May and June. Statistics Canada said Friday real gross domestic product contracted at an annualized rate of 38.7 per cent for the quarter, the worst posting […]

  • August 31, 2020 December 6, 2020
  • 08:13

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 […]

  • August 28, 2020 December 6, 2020
  • 09:32

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 […]

  • August 27, 2020 December 6, 2020
  • 08:43

The Bank of Canada is turning to the public for input on its inflation-rate target that underlies any changes to the central bank’s trend-setting interest rate. The bank had already planned on a much broader consultation than what it did for previous reviews long before the coronavirus pandemic struck Canada and forced a sharp decline […]

  • August 25, 2020 December 6, 2020
  • 08:48

The federal Liberals are rolling out a $37-billion income support plan for workers whose earnings have crashed during the pandemic. The details released Thursday outline what will happen to some four million workers receiving the $500-a-week Canada Emergency Response Benefit, which is set to wind down starting next month. The CERB will be extended another […]

  • August 20, 2020 November 12, 2020
  • 15:30

The only finance minister to serve under Prime Minister Justin Trudeau suddenly resigned Monday night, saying someone else should guide the country through a long and bumpy economic recovery from the coronavirus pandemic. Bill Morneau said he had considered leaving his role as finance minister for some time, adding that he never intended to run […]

  • August 18, 2020 December 6, 2020
  • 08:30

The country’s inflation barometer turned positive last month after two months of deflation as the consumer price index increased by 0.7 per cent in June compared to a year earlier, Statistics Canada reported Wednesday. The consumer price index had registered two months of negative readings leading up to June, first with 0.2 per cent annualized […]

  • July 24, 2020 December 6, 2020
  • 07:41

The Bank of Canada is holding its key interest rate at 0.25 per cent in response to what it calls the “extremely uncertain” economic outlook from the coronavirus pandemic, and plans to keep it there until the picture improves. In its updated outlook, the bank said Wednesday it expects the economy to contract by 7.8 […]

  • July 15, 2020 November 11, 2020
  • 13:45