A senior Bank of Canada 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.
A senior Bank of Canada official says the central bank is keeping a close eye on the stresses to the global banking system ahead of its nextIn a speech to the National Bank financial services conference, Bank of Canada deputy governor Toni Gravelle said Wednesday the bank is watching for any further effects from the recent banking problems in the U.S. and Europe.
"We'll be looking specifically at potential spillovers into the real economy to the extent that financial conditions tighten and there are broader confidence effects." Gravelle said global banks are more resilient today than they were 15 years ago, at the outset of the global financial crisis.
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