OTTAWA (Reuters) – The International Monetary Fund (IMF) said Monday Canada’s central bank is likely to hold its main interest rate steady until early 2015, and the bank has limited room to cut rates because of overvalued housing prices and record household debt.
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BEST OF BNN: The Bank of Canada left its benchmark interest rate unchanged at an historic low of one percent on Wednesday, but warned that inflation will be lower than previously anticipated.
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(Reuters) – Market volatility spurred by the U.S. Federal Reserve’s plans to scale back its massive stimulus program is far less of a concern now than it was earlier this year, Bank of Canada Governor Stephen Poloz told Reuters on Tuesday.
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OTTAWA – The Bank of Canada won’t pronounce on interests rates until later this month, but Scotiabank economists are jumping the gun in speculating Canadians won’t have anything to worry about until 2016.
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TORONTO Canada’s central bank on Thursday named its new governor to replace outgoing regulator Mark Carney, who is leaving to head the Bank of England.
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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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A surging New Zealand housing market that has sent prices to record levels is jangling nerves at the central bank, prompting warnings of asset bubbles that may need rate rises and moves to rein in bank lending.
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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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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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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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