Bank reforms proving a net benefit for growth and job creation, says Carney

Posted on November 8, 2012 by Joe

MONTREAL- Bank of Canada governor Mark Carney says there is evidence that reforms being imposed on the world’s largest banks — often against their will — are contributing to economic growth and job creation, rather than the opposite as critics claim.

Canada’s top central banker, who holds the prestigious position of head of the Financial Stability Board overseeing international reform of the sector, said he will insist on timely and consistent implementation of agreed reforms.

Read more: http://tinyurl.com/b72gaeh

Three from Quebec face charges in fraud scheme

Posted on October 31, 2012 by Joe

Lethbridge Regional Police have charged three Quebec residents with numerous offences in connection with a province-wide crime spree where stolen identities were used to raid the bank accounts of several victims. On Oct. 25, police responded to a suspicious transaction in progress at a bank along Mayor Magrath Drive South. Earlier in the day a woman entered the bank claiming she had lost her bank card and was provided with a temporary replacement.

Read more: http://tinyurl.com/c7gsvhu

Bank of Canada’s Carney says rate hikes will be gradual

Posted on October 25, 2012 by Joe

OTTAWA (Reuters) – The Bank of Canada will take care not to raise interest rates too rapidly when the time comes because of risks to the economy from challenges in the United States and Europe, Governor Mark Carney said in an interview released on Thursday.

Read more: http://tinyurl.com/8zcaksl