Traders expect BoC to hold line on rates, wonder if markets set for pullback

TORONTO – The Bank of Canada will have the full attention of traders this week when it makes its next scheduled announcement on interest rates.

Part of the announcement on Wednesday is a foregone conclusion — the bank will leave its key interest rate unchanged at one per cent, the same level it has been for two-and-a-half years because of economic weakness here and around the globe.

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Macklem seen most likely to be next Bank of Canada governor: Reuters poll

OTTAWA (Reuters) – Tiff Macklem, currently second-in-command at the Bank of Canada, is unanimously seen as the most likely successor to Governor Mark Carney, according to a Reuters poll published on Wednesday.

All 16 analysts who responded in the survey said that Macklem, 51, is the firm front-runner to take the helm at the central bank when Carney steps down on June 1 to run the Bank of England.

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Bank of Canada governor Mark Carney picked to lead British central bank

OTTAWA – Bank of Canada governor Mark Carney has been chosen to run the Bank of England, beginning next summer.

Finance Minister Jim Flaherty called it a bittersweet moment Monday as he announced Carney’s departure. He said he’s pleased to see Carney take on new responsibilities, but the governor will be missed at home.

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REPORT RAISES QUESTIONS ABOUT CENTRAL BANK GOLD HOLDINGS

For years I have cautioned that changes in the ownership of gold held in the vaults of key central banks around the globe may not have been accurately reported. A report issued last month in Germany has once again brought these issues to the fore. In today’s environment of rampant money creation and questioning of central bank activities, such uncertainty is bound to spark the curiosity of an increasing number of investors.

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