Category Archives: Global economy

Stephen Poloz is a new Bank of Canada Governor

Posted on May 6, 2013 by Denys

“I believe that Stephen Poloz definitely has all the credentials necessary for this job. And as far as I heard he has a great reputation,” – noted Paul Therien from Centum Financial Group. “Of course, only time can show if … Continue reading →

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Canadians are using equity in their homes to buy real estate in U.S.

Posted on March 2, 2013 by Denys

The recent survey by the National Association of Realtors shows that Canadians stand for the largest share of foreign buyers of the U.S. real estate. They account for 24% of all international sales, followed by China with 11% and Mexico … Continue reading →

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Mark Carney: “Banks should focus on client relationships and not on the transactions”

Posted on February 27, 2013 by Denys

The Bank of Canada Governor Mark Carney said that reviving strong ethics and moral values is the only way for the Canadian banks to restore the consumer trust in the banking system. And although the G20 global banking sectorreforms might … Continue reading →

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Jim Flaherty: We follow the schedule for budget balancing strictly

Posted on February 7, 2013 by Denys

Despite potential impact of lower Canadian oil prices, Finance Minister Jim Flaherty still follows his schedule for balancing the federal budget. “Of course, not only Alberta, but also the government is concerned about oil prices,” – he noted in his … Continue reading →

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Big banks expect a soft landing for the Canadian real estate market

Posted on January 9, 2013 by Denys

According to Canada’s leading bankers, the national housing market will face a soft landing even despite the slowdown’s influence on the mortgage sector. At the recent banking conference in Toronto the top bankers noted they don’t predict a sharp downturn … Continue reading →

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What fiscal cliff deal in U.S. means for Canadian mortgage borrowers

Posted on January 2, 2013 by Denys

“Fiscal cliff” is by far the most popular idiom of the last few weeks even if you live in Canada. And all were watching very closely for the last minute deal reached by Obama and Republicans. Recently the bill, preventing … Continue reading →

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IMF suggests that Canada should not raise rates till late 2013

Posted on December 21, 2012 by Denys

According to the International Monetary Fund (IMF), the Bank of Canada should not raise interest rates until late 2013 in order to give the domestic economy time for returning to full capacity. “It’s necessary to delay the monetary tightening cycle … Continue reading →

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The Bank of Canada’s rate meeting – again no surprises

Posted on December 4, 2012 by Denys

Today the Bank of Canada did what most of us expected – left its key interest at 1.00% again. Actually, economists focused on possible hints from the central bank on the future of mortgage rates. In the end, today’s announcement … Continue reading →

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Monetary Policy Council calls on the Bank of Canada to keep its rate unchanged

Posted on November 29, 2012 by Denys

Today the C.D. Howe Institute’s Monetary Policy Council (MPC) advised the Bank of Canada to keep itsovernight rate at the level of 1.00% at its next meeting on December 4, 2012. In addition to it, the Councilsuggested that the Bank … Continue reading →

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Bank of Canada does not expect housing crash and will keep rates low

Posted on October 24, 2012 by Denys

Today the Bank of Canada (BoC) governor Mark Carney said he is not as ready for raising rates as earlierthis year. Nevertheless, he made it absolutely clear that the next rate change will be an increase, and not a decrease. … Continue reading →

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