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Bank of Canada Governor Stephen Poloz used his first public comments to reiterate Mark Carney’s view that the central bank’s policy rate will rise as the economy grows and declined to give “running commentary” on whether the nation’s currency is overvalued.
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Bank of Israel publishes the following statement on its website.
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Bank of Israel publishes the following statement on its website.
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Israel’s central bank unexpectedly cut its benchmark interest rate to a three-year low and announced a program to purchase foreign currency to limit gains in the shekel. Israeli stocks and bonds rose.
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The creation of an Israeli sovereign wealth fund for revenue from natural-gas discoveries will help the government manage currency-market expectations, a top adviser to the prime minister said.
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Following is the text of Bank of Canada Governor Mark Carney’s speech today at the Spruce Meadows Round Table near Calgary. The document was released today in Ottawa.
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The Canadian bond market suggests manufacturers are being penalized for central bank policies that have allowed a commodity boom to drive up the country’s dollar in what’s being termed as “Dutch Disease” by critics.
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Bank of Canada Governor Mark Carney rejected the idea the central bank has hurt domestic manufacturers by allowing a commodity boom to drive up the country’s dollar, calling it a “caricature” that would limit the beneficial development of the Alberta oil sands.
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European countries adopting a “Jekyll and Hyde” strategy toward China have a greater chance of winning more exports to the world’s fastest-growing major economy, according to University of St. Gallen economists.
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Petroleo Brasileiro SA’s local content policy prevents the so-called “Dutch disease,” Brazilian President Dilma Rousseff said in Rio de Janeiro today.