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The company hired to find a replacement for departing Bank of Canada Governor Mark Carney is looking for a star external candidate, even as consensus builds around Senior Deputy Governor Tiff Macklem as the front-runner for the job.
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Canada’s government bond returns are lagging behind the rest of the world this month for the first time since July as investors bet the nation’s central bank may increase interest rates sooner than analysts expected.
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Canada’s economy showed more signs of a recovery carried by companies instead of government stimulus, suggesting the central bank may continue raising interest rates.
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Canada’s dollar gained for a second consecutive month, reaching parity with its U.S. counterpart for the first time since April, on speculation an easing of monetary policy by the Federal Reserve will spur global growth.
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Credit markets indicate investors are becoming certain the Bank of Canada will raise interest rates at a second consecutive meeting after the country posted the largest quarterly gain in employment on record.
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Canadian homebuyers are benefiting from concern that European governments can’t finance budget gaps.
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The Bank of Canada will probably keep its key interest rate unchanged today and may emphasize the risks to Canada of a strong dollar and uneven global growth rather than give hints on the timing of the next tightening.
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Canada Housing Trust, the financing arm of the nation’s housing agency , had to offer a higher premium to sell mortgage bonds as investors were concerned about contagion from the European fiscal crisis.
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Canada’s benchmark lending rate may rise further after central-bank Governor Mark Carney signaled yesterday the effect of three straight increases since June 1 is being offset by falling bond yields.
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Chances that Bank of Canada Governor Mark Carney will raise interest rates next month are heading toward zero amid signs the slowdown in the U.S. economy is hampering the Canadian recovery.