Canadian Underwriter

Bank of Canada

News Claims

Bank of Canada warns in report of business, household debt from COVID 19

May 14, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada says there are signs in the country’s financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis. The central bank has spent the last two months making a

News EmploymentRisk

Economic downturn from COVID-19 will be sharpest on record, Bank of Canada warns

April 15, 2020 The Canadian Press

OTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The

News InsuranceMarkets / CoveragesRisk

Bank of Canada cuts key rate amid coronavirus concerns

March 4, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus

News Earnings / RatingsRisk

Trade conflicts and uncertainty remain a key risk: Bank of Canada

December 4, 2019 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, noting that while global recession concerns are waning, trade conflicts and related uncertainty continue to remain a key risk. The central bank’s overnight rate target has

News Risk

Can Canada weather a global financial storm?

November 19, 2019 The Canadian Press

MONTREAL – The global economic picture has worsened, increasing risks to global growth and chances of financial stress that could spill over into Canada, the senior deputy governor of the Bank of Canada said Tuesday. In a speech to the

News Legislation / Regulation

Bank of Canada official urges re-think of cyber regulations

November 14, 2019 David Paddon - THE CANADIAN PRESS

TORONTO – Government bodies and the private sector need more ways to share information about cybersecurity threats, and that may require new regulations or legislation, a Bank of Canada official said Tuesday. Filipe Dinis, the central bank’s chief operating officer,

News Insurance

Bank of Canada holds interest rate, warns of drag from global trade tensions

July 10, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is leaving its key interest rate unchanged in an announcement that balances domestic economic improvements with an expanding global slowdown caused by trade conflicts. The decision Wednesday kept the interest rate at 1.75 per

News Markets / Coverages

Could Canada cut interest rates?

April 2, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking

News Earnings / Ratings

What it will take for another interest rate hike

February 21, 2019 Andy Blatchford THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor

News Legislation / Regulation

Interest rates might not rise next month: Analysts

December 19, 2018 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Cooling inflation has given the Bank of Canada another reason to keep interest rates on ice next month. The annual pace of inflation slowed in November to 1.7 per cent as upward pressure from higher gasoline prices eased

News InsuranceMarkets / Coverages

Bank of Canada keeps key interest rate target on hold at 1.25 per cent

May 30, 2018 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate target on hold Wednesday, but noted the Canadian economy was a little stronger than expected in the first quarter, raising expectations that rate hikes are coming later this year

News InsuranceMarkets / CoveragesTechnology

Bank of Canada calls for global alignment on cryptocurrency policy

March 27, 2018 The Canadian Press

TORONTO – The Bank of Canada’s senior deputy governor is calling for authorities to work toward a coherent set of globally aligned policies governing cryptocurrencies. Carolyn Wilkins told a University of Toronto conference on Thursday that such a strategy will