Bank of Canada

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Fearful Banks Show Negative Bias Toward Crypto Investors

Banks are afraid of bitcoin and some of them are responding in a way that’s driving customers away. On July 18, founder and partner at Morgan Creek Digital Anthony Pompliano shared on Twitter an epic email from a disgruntled client that was sent to the CEO of the Royal Bank of Canada (RBC). The letter…


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The Canadian dollar looks ‘egregiously’ undervalued: Scotiabank

Canada’s dollar is “egregiously” undervalued, Scotiabank said following a report Friday that showed record job gains for the country.While the loonie has had a bad reputation of late, the strength of the nation’s economic fundamentals reinforces the view that the currency should be stronger, foreign-exchange strategists Shaun Osborne and Eric Theoret wrote in a note.The…



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Bank of Canada holds key interest rate at 1.75%

Canadian interest rates are almost certainly on hold until at least sometime next year.The Bank of Canada published a revised outlook on April 24 that shows the economy essentially stalled over the last six months, extinguishing the sparks that had caused policy makers to starting worrying about inflation.Stephen Poloz, the governor, and his deputies left…


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Posthaste April 15: Alberta election suspense, Bank of Canada outlook and $475 to watch the Maple Leafs

Good morning!The West remembers: Competing visions collide as Rachel Notely’s NDP fights an uphill task against Jason Kenney’s UCP. Bank of Canada to take the temperature of the economy in its latest Business Outlook Survey. Lundin Mining buys Yamana Gold’s Brazilian mine as companies continue to position themselves in the new gold era. And long-suffering…


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Bank of Canada’s Stephen Poloz reinforces perception rates are on hold

Bank of Canada Governor Stephen Poloz indicated he’s all but abandoned any bias for higher interest rates, saying officials are simply focused on keeping policy aligned with current economic conditions.Asked at a press briefing Saturday in Washington whether he’s done with hiking, Poloz said: “That’s a very data dependent question.” He also dismissed the idea…




Canada’s prospects of being plunged into recession are dim, unless ‘another shoe’ drops, National Bank CEO says

Canada’s prospects of being plunged into recession are dim, unless ‘another shoe’ drops, National Bank CEO says

National Bank of Canada Chief Executive Officer Louis Vachon doesn’t see much prospect of a Canadian recession in the next six to 12 months — barring unforeseen circumstances.“There needs to be another shoe to drop somewhere,” Vachon said Wednesday during a conference his bank hosted in Montreal. “There has to be further tightening by the…