The world’s advanced economies are entering a prolonged period of deleveraging after several decades of accumulating debt, Bank of Canada Governor Mark Carney said today. “The direction may be clear, but the magnitude and abruptness of the process are not. It could be long and orderly or it could be sharp and chaotic.” “In general, […]
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system.
Deputy Governor John Murray discusses the importance of global economic policy coordination in a speech at the State University of New York College in Plattsburgh, New York.