Ontario Premier Kathleen Wynne appointed a new cabinet today, making her deputy premier the head of the Treasury Board as Canada’s most populous province looks to close a C$12.5 billion ($11.6 billion) budget gap.
The Bank of Canada will probably keep its main interest rate unchanged for a seventh straight meeting today, as economic risks posed by indebted foreign governments outweigh concerns about quicker domestic inflation.
The gap between yields on Canadian 10-year bonds and comparable U.S. Treasuries, already at the widest in almost 1 1/2 years, may widen as the difference in interest-rates between the two countries increases.
The yen weakened beyond 100 per dollar for the first time in four years as the Bank of Japan’s deflation-fighting measures have the currency headed for its longest streak of monthly losses in almost two decades.
Treasury 2-year note yields fell after U.S. employers added fewer jobs in November than economists forecast and the unemployment rate unexpectedly rose, reigniting concern the pace of the economic recovery will slow.