Robert Gorman, who seeks dividend growth as chief portfolio strategist for Toronto-Dominion Bank’s TD Wealth unit, says companies are right to hold large cash reserves now so they can use the funds to expand as the economy improves.
Canada’s central bank will probably promote from within to replace Tiff Macklem, who said yesterday he will quit as senior deputy governor seven months after being passed over for the top job, economists said.
A survey by the country’s trade financing agency showed the first back-to-back rise in confidence among the nation’s exporters in more than three years on optimism the global economy is gathering steam.
Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and said the risks of inflation staying below target “appear to be greater” in an economy that’s two years away from reaching full output.
Fabien Ricard and Richard Montoux bought a four-bedroom brick row house with a butler’s pantry in Montreal’s Westmount district this year. The couple from France chose Montreal over Toronto or Vancouver, saying its boutiques and bilingual culture made the metropolis more international.