The scenic town of Jasper, Alta., was devastated in a wildfire that engulfed Jasper National Park, Joe Biden addressed the nation for the first time after announcing he won’t run for re-election as U.S. president and the Earth set back-to-back records for the hottest day ever. Plus, the Bank of Canada made its second back-to-back … Read more
Descrease article font size Increase article font size The Bank of Canada should consider better communication of its monetary policy intentions, building on the steps it has already taken to improve the transparency of messages it sends to the market, the International Monetary Fund said on Tuesday. The IMF has often suggested improvements to central … Read more
The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in its battle against high inflation but also signaling that fight had yet to be won as inflation was set to remain too high until next year. Inflation in the 20 countries that share the euro has fallen from more than … Read more
Bank of Canada governor Tiff Macklem navigates a political minefield every time he testifies before the House of Commons finance committee. Four times a year, members of Parliament get the chance to question the governor on monetary policy. At a time when inflation and interest rates are both high, MPs — particularly Opposition ones — … Read more
By Staff The Canadian Press Posted May 1, 2024 6:19 pm 1 min read Descrease article font size Increase article font size Bank of Canada governor Tiff Macklem says he doesn’t think the federal budget tabled last month will have much of an effect on inflation. Macklem was testifying at a Senate committee alongside senior … Read more
The Liberal government is facing a tough fiscal position heading into the 2024 budget, according to new projections from the Parliamentary Budget Officer. Ottawa is simultaneously dealing with rising debt costs and a slowing economy, both of which are fuelled by decades-high interest rates from the Bank of Canada as it works to tame inflation. … Read more
Former Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation. Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central … Read more
