BANK OF CANADA: BUSINESS, CONSUMER SENTIMENT PLUNGE ON COVID, OIL PRICE FALL
NEW YORK (MaceNews) – Canadian business and consumer sentiment dropped in response to the Covid-19 pandemic and the drop oil prices, the Bank of Canada reported Monday. The bank’s quarterly survey of businesses, conducted from mid-May to early-June, as government restrictions were starting to ease, found businesses in all regions and sectors “reported that weak […]
BANK OF CANADA’S GRAVELLE: POLICY-MAKERS ‘HOPEFUL,’ WATCHING DATA AS ECONOMY REOPENS
NEW YORK (MaceNews) – Bank of Canada policy-makers are hopeful the pandemic’s economic impact has peaked, but admit there’s much uncertainty how the recovery will unfold, BOC Deputy Governor Toni Gravelle said Thursday. Gravelle, in remarks prepared for delivery during an online meeting, said the bank will be watching economic data closely to gauge the […]
BANK OF CANADA TAKING RISK MANAGEMENT APPROACH DURING ‘UNKNOWABLE TIMES’
NEW YORK (MaceNews) – The Bank of Canada continues to pursue a risk management approach to policy-making as it faces multiple challenges and uncertainties stemming from the Covid-19 pandemic, retiring Governor Stephen Poloz said Monday. The risk management approach to implementing the bank’s inflation mandate means the bank considers multiple economic models and incorporates soft […]
BANK OF CANADA’S LANE SEES ECONOMY, INFLATION DEPRESSED POST-COVID
NEW YORK (MaceNews) – Canada’s economy is likely to emerge from the Covid-19 shutdown period with weaker supply and demand, and lower inflation, due to shutdown “scarring,” Bank of Canada Deputy Governor Tim Lane said Wednesday. “While the steps we have taken should help, we are likely to emerge from the shutdown with both demand […]
BANK OF CANADA: FIN SYSTEM ‘RESILIENT,’ COPING W/ COVID-19, OIL SHOCKS
NEW YORK (MaceNews) – Canada’s financial system “remains resilient” in the face of Covid-19 and the oil price shock, with support from Bank of Canada policy, and strong private capital and liquidity buffers, even as the economic outlook remains uncertain, the bank said Thursday. “Strong policies have put a floor under the economy and laid […]
WHITE HOUSE WATCH COMMENTARY: ‘PLENTY OF PROTEIN IN THE (HOBBLED) FOOD CHAIN’
By Denny Gulino WASHINGTON (MaceNews) – Kroger, with 2,700 stores, says some of them will have purchase limits on ground beef and pork, just as many other grocery chains have been imposing for weeks. It’s the end of the week and maybe you’ve run out of things to worry about. We can help. There is […]
IMF WEO: CHINA TO ESCAPE PANDEMIC ECONOMIC DECLINES
WASHINGTON (MaceNews) – The following is IMF chief economist Gita Gopinath’s summary of the World Economic Outlook update published Tuesday outlining sharp declines in economic activity throughout much of the world with the notable exception of China, where the pandemic originated: The world has changed dramatically in the three months since our last update of […]
BANK OF CANADA EMERGENCY MEASURES STATE OF PLAY
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada has joined other banks around the word in making credit more available and affordable to consumers and financial institutions as the Covid-19 pandemic causes unprecedented upheaval to the global economy. The financial situation in Canada and elsewhere continues to be stressed as a result of […]
CANADA PLANS $82 BLN IN PANDEMIC RELIEF PACKAGE
By Gloria Gallloway OTTAWA (MaceNews) – Canada is promising $82 billion in financial relief to soften the blow of the pandemic crisis that is causing massive upheaval and uncertainty in this country and around the world. Prime Minister Justin Trudeau announced Wednesday that his government would provide up to $27 billion in direct support for […]
DRAGHI: ECB COUNCIL ‘UNIFIED’ DESPITE POLITICAL PRESSURE ON RATE SETTERS
By Laurie Laird FRANKFURT (MaceNews) – European Central Bank rate setters have largely settled their policy disagreements, according to ECB President Mario Draghi, while acknowledging that global central banks are coming under increasing political pressure. Addressing reporters after his final meeting, Draghi described a “general call for unity” among governing council members, after a number […]