Central banks around the world - including the Bank of Canada - have announced a co-ordinated plan to pump billions more into the financial system to ease the global credit crunch. The U.S. Federal Reserve, the Bank of England, the European Central Bank and the Swiss National Bank are also part of the agreement. The Bank of Canada said the measures are "designed to address elevated pressures in short-term funding markets." The Bank of Canada said it would provide at least $2 billion in funding on Thursday, along with another $1 billion next Tuesday. It will also expand the kind of securities it will accept as collateral. The global plan will put more than $67 billion US in extra liquidity into the financial markets over the next six months - including more than $40 billion US by the Fed, $20 billion US for the ECB and $4 billion US for the Swiss National Bank. The liquidity boost is meant to counter the credit crunch that followed the U.S....
The Bank of Canada cut its key interest rate by a quarter of a percentage point Tuesday, citing the increased risks to Canada's economy from the weakness south of the border. - The cut...
Canadians can expect economic growth to grind to a near halt in the second quarter of the year because of the U.S. slowdown and the global credit crunch, the Bank of Canada said Thursday. - In...
A smaller increase in the price of gasoline meant Canada's annual inflation rate slid to 1.4 per cent in March - the lowest growth rate since January 2007, Statistics Canada said Thursday. The...
The U.S. economy has landed in recession, according to an economist at brokerage firm Merrill Lynch. - David Rosenberg, Merrill Lynch's chief North American economist, said Friday’s...
Canada's jobless rate dipped to 5.8 per cent in January, as the economy churned out a greater-than-expected 46,400 jobs, Statistics Canada said Friday. - The unemployment rate matches the...
The Bank of Canada sees the economy rebounding from its first-quarter contraction to eke out slim growth in the second quarter of this year. - "The Canadian economy remains robust," governor...
The Canadian economy's record of habitually churning out robust employment growth came to an abrupt end in December, as 18,700 jobs disappeared, Statistics Canada said Friday. The report was...
The S&P/TSX composite index plummeted almost 605 points on Monday as it joined a worldwide market sell-off prompted by growing fears of a U.S. recession. The benchmark index finished at...
The Toronto stock market staged a dramatic rebound Tuesday as an emergency rate cut from the U.S. Federal Reserve and a smaller cut by the Bank of Canada persuaded investors to wade back into the...
Just one day after cutting rates by a quarter of a point, the US Federal Reserve makes an unexpected move MOREINFO: The US Federal Reserve announced the creation of a temporary short term lending...
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