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 […]
BANK OF CANADA WARNS TRADE WORRIES HITTING ECONOMY
By Gordon Isfeld OTTAWA (MaceNews) – Global economic tension amid ongoing trade disputes, in particular the growing conflict between the United States and China, has led to weaker business investment overall, the Bank of Canada warned Wednesday. “Canada’s economy is operating close to potential and inflation is on target,” the country`s central bank said in its […]
EXPORTS LIFT CANADA GDP IN SECOND QUARTER
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy exceeded analysts’ expectations for a strong second-quarter gain, following weaker — but still positive — output growth in the first three months of 2019, but the stage remains set for a possible interest rate cut if threats to global output persist. Canada’s gross domestic product grew by 0.9 per […]
CANADIAN CONSUMER PRICE GAIN AT 2%; M/M +0.5%
by Gordon Isfeld OTTAWA (MaceNews) – Canada’s consumer price index rose by 2.0% in July on a year-over-year basis, the same pace of gains as the previous month, with food and shelter costs fueling much of the increases. The CPI reading on Wednesday was better than expected, with the key reading unchanged last month – and […]
BANK OF CANADA SEES UNCERTAIN OUTLOOK ON GLOBAL WORRIES
By Gordon Isfeld OTTAWA (MaceNews) – Growing pressure on the global economy may not have seriously dented the outlook for Canada’s near-term growth, but other factors – such as international trade frictions and lingering squabbles over how to resolve the Brexit crisis – are continuing to contribute to growth uncertainty. “Evidence has been accumulating that ongoing […]