official says the central bank is keeping a close eye on the stresses to the global banking system ahead of its next interest rate decision and monetary policy report in April.
In a speech to the National Bank financial services conference, Bank of Canada deputy governor Toni Gravelle says the bank is looking for any potential spillovers into the real economy from the recent banking problems in the U.S. and Europe. U.S. regulators had to take control of Silicon Valley Bank as well as Signature Bank earlier this month to prevent wider financial problems amid a run on deposits, while Swiss authorities helped UBS to acquire Credit Suisse after its rival ran into difficulties.Story continues below advertisement
Gravelle says global banks are more resilient today than they were 15 years ago, at the outset of the global financial crisis. But he says the Bank of Canada is “ready to act” in the event of severe market-wide stress and provide liquidity support to the financial system.
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Bank of Canada says it is ‘ready to act’ in event of extreme market stressBank of Canada Deputy Governor Toni Gravelle said the central bank’s quantitative tightening program will have run its course by the first half of 2025 Are they going to take out Trudeau and Freeland ? Keep cranking that interest rate up. Rates need to rise up and above the current inflation rate. Take warning. ⚠️
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Bank of Canada 'ready to act' in event of extreme market stressThe Bank of Canada said it was ready to step in with support if the banking system came under severe strain. Find out more bend over taxpayers. foreign investors have needs Both of those banks went woke instead of taking care of real business. They went broke. Any banks that are flogging DEI, ESGs and SDGs needs to be examined imho. Exposure to directed funds like that is dangerous. ooooOoOooOooooOoh they are stressing alright, I work for a major bank in Toronto and the meetings I have been privy to are not a good sign of things to come...
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Bank of Canada 'ready to act' in event of extreme market stressThe Bank of Canada said it was ready to step in with support if the banking system came under severe strain. Find out more
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Bank of Canada 'ready to act' in event of extreme market stressThe Bank of Canada said it was ready to step in with support if the banking system came under severe strain. Find out more
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