Over the recent weeks, Canada has been seen quietly disposing of its gold reserves, so much that the reserves now stand at 0.62 tons. The decision to sell the yellow metal is said to be issued straight from the Finance Minister, Bill Morneau's office.
Canadian Finance Minister has clearly stated that he strongly supports the central bank's recommendation of featuring Canada's iconic woman or women on paper currency. The petition for recognition of women, led by by hhistorian Merna Foster since 2013, seems to be slowly moving towards a positive decision.
Finance ministers from the world's largest developed economies meet in Germany this week against a backdrop of faltering global growth, scant inflationary pressures and a bond market in turmoil.
The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan.
The Federal Reserve provided $240 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.
The coming year is unlikely to bring any relief to the weakening Canadian dollar as the Bank of Canada's neutral stance prompted analysts in a Reuters poll to renew their pessimistic forecasts for the currency.
The Canadian government has finally broken its silence about the Bitcoin, rejecting the digital currency as legal tender in the country, The Wall Street Journal blog Canada Real Time reported.
Under new Bank of Canada Governor Stephen Poloz, the bank retained its benchmark interest rate level for the 24th consecutive month.
Bank of Canada Governor Stephen Poloz expressed disappointment as to the country's economic performance despite signs of regained momentum.
Bank of Canada will keep its targets of keeping rates low.
Canada's banks are striving to make Toronto a yuan currency trading hub, which would a first in North America.
Stephen Poloz, new central bank chief for Bank of Canada said on Wednesday that the bank can no longer rely on its usual models to assess the economy.