Michael Gregory

Michael Gregory News

Flaherty May Name New BOC Head as Carney Departure Looms

Finance Minister Jim Flaherty says he will soon name a replacement for Bank of Canada Governor Mark Carney, leaving the new candidate with no more than about a month to prepare for the job.
Flaherty Holds Spending to Return Canada to 2015 Balance

Canadian Finance Minister Jim Flaherty plans to eliminate the country’s deficit before the next election in 2015 by limiting spending growth to the slowest pace since the 1990s and banking on an accelerated recovery.
Canada Curbs Banks' Ability to Use Insured Mortgages as Capital

Canada is reducing commercial banks’ ability to use insured mortgages as balance-sheet capital, according to budget documents released today.
Flaherty Holds Spending to Return Canada to 2015 Balance

Finance Minister Jim Flaherty safeguarded Canada’s status as the only Group of Seven country with a stable top credit rating after releasing a fiscal plan that eliminates the country’s deficit in two years.
Biggest Rally Since 2002 Drives Provinces, Munis to Bonds: Canada Credit

Bond sales by Canadian provinces surged in the third quarter to the highest in almost a decade as borrowers took advantage of record-low interest rates and steady investor appetite to raise funds.
Carney May Weaken Rate Rise Commitment as Canada Growth Sputters

Bank of Canada Governor Mark Carney may water down his intention to raise interest rates today amid economic growth that has lagged forecasts.
Bank of Montreal Economist Cuts Bank of Canada Interest Rate Forecast

The Bank of Montreal reduced its forecast for how fast Canada’s central bank will raise its key interest rate, citing Europe’s debt crisis and evidence of sluggish U.S. economic growth.
Carney Says Canada Rate Rise Less Imminent on Inflation

Bank of Canada Governor Mark Carney said the need to raise interest rates is less urgent because the economy will take longer to reach full output, keeping inflation below target until the second half of next year.
Macklem Says Fading Growth to Accelerate Later This Year

Bank of Canada Senior Deputy Governor Tiff Macklem, who may be promoted to lead the central bank later this year, said economic growth is slower than expected and will accelerate later this year.
Carney to Keep Tightening Bias as Consumers Lead Recovery

Bank of Canada Governor Mark Carney will probably repeat today that higher interest rates may become necessary “over time” as heavily-indebted consumers lead the country’s meager growth.