Markets welcome new Canada finance minister, with 'relief pitcher' as backup

OTTAWA/TORONTO - The appointment of a journalist with little corporate experience to manage the finances of a G7 country would typically be seen as risky, but markets barely hiccupped on Tuesday after Chrystia Freeland was appointed Canada’s finance minister.

The Canadian dollar notched a seven-month high at 1.3147 per U.S. dollar, or 76.06 U.S. cents, as the greenback broadly declined, while Canada’s 10-year yield eased 2.2 basis points to 0.562%. “Markets weren’t concerned ... because there were so many reports that you’ve got these heavy hitting economists sitting in undisclosed high positions of power,” said Simon Harvey, FX market analyst for Monex Europe and Monex Canada.

Her views should not come as a surprise to followers of Trudeau’s policies. Striving towards “inclusive economic growth” has long been a platform of the current Liberal government, said Craig Alexander, chief economist at Deloitte Canada.

Who wrote this? She is a convenient replacement for a guy tossed under the bus of corruption from a guy who is up on corruption charges as well. Cancellation government and hope questions go away. The timing is a neon light flashing, cover up.

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