Carney warns of Greek dangers
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Bank Of Canada Governor, Canadian Economy, Debt Crisis, Debt Situation, Financial Crisis, Global Recovery, Indirect Threat, Interest Rates, Mark Carney, Ottawa Citizen, Pace, Risk, Senate Committee, Senators, Testimony, Timeline, Western Countries
Ottawa Citizen- The Greek debt crisis and high borrowing by many Western countries pose an indirect threat to the Canadian economy and could drag down the pace of growth if not resolved, Bank of Canada governor Mark Carney said Thursday.
Carney, in testimony to a Senate committee on banking, also repeated comments made earlier this week that there is no preordained timeline for the central bank to raise interest rates as Canada leaves the financial crisis behind. "The debt situation is one of the largest, arguably the largest, risk to securing the global recovery," he told the senators. "The net result of this would be negative for growth in Canada…”
Canada comes and conquers
Filed Under Main Content · Tagged: Canada Post, Central Bank Officials, China, Clout, Debt Loads, Emerging Economies, European Countries, Finance, G20 Meeting, Good Reason, Massive Debt, Peers, Post Canada, Voting Power, Western Allies, Willingness, World Bank
Financial Post- Canada came to the G20 meeting of finance and central bank officials in Washington, saw and heard from its peers, and at the end of the day conquered.
Much of the success was due to Canada’s willingness to move away from its traditional Western allies — and their massive debt loads — and join forces with the dynamic and fiscally healthy emerging economies.
And it’s with good reason Canada is warming up to China and other emerging economies. Not only are they growing, but they are getting more clout, as China overtook European countries in World Bank voting power, in a shift agreed upon yesterday…
Are Big Banks jumping the gun?
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Banks, Decade, Fixed Mortgage Rate, Fixed Rate Mortgages, Globe And Mail, Globe Mail, Hasn, Interest Rates, Jumping The Gun, Overnight Rate, Percentage Point, Trend, Year Fixed Mortgage
The Globe and Mail- Interest rates are rising – we all get that – but it looks like the Big Banks are pushing things a bit with mortgages.
After a pair of increases in the past two weeks, the posted Big Bank five-year fixed mortgage rate now stands at 6.25 per cent. Does that seem high? In fact, it’s just half a percentage point below the average level for the past decade.
We’re supposed to be in the early phase of what could be a long cycle of rate increases. The Bank of Canada hasn’t even started raising its overnight rate, which sets the trend for borrowing costs other than fixed-rate mortgages. The overnight rate could very well start rising June 1 (that’s the central bank’s next rate-setting date), but even then it’s not dead certain that rates will move…
Are Big Banks jumping the gun? – The Globe and Mail
Five reasons to love rising interest rates
Filed Under Main Content · Tagged: Bank Of Canada, Banks, Bond Yields, Borrowers, Cheap Money, Consumers, Deep Breath, Disaster, Economy, Fixed Income, Globe And Mail, Investors, Love, Mortgage Rates, Rising Interest Rates, Sanity, Segments, Seniors
The Globe and Mail- With the Bank of Canada poised to raise interest rates as early as June, nervous borrowers are bracing for the end of cheap money.
Big disaster, right? Hardly.
Sure, consumers carrying onerous amounts of debt will feel the pain when rates climb from today’s ultralow levels. But for others – savers, seniors and fixed-income investors, for example – higher rates can’t come soon enough.
Rising rates might even restore some sanity to segments of our economy that have gotten drunk on all the easy credit. So, with banks already ratcheting up mortgage rates and bond yields creeping higher, let’s take a deep breath and focus on the positives.
Here are five reasons to love rising interest rates…
Five reasons to love rising interest rates – The Globe and Mail
