In order to achieve a full recovery, the global financial system must have continuously open markets at its core, Bank of Canada Governor Mark Carney argued today in a speech to the Canada – United Kingdom Chamber of Commerce.
Throughout the years, Canada has been a major beneficiary of London's innovation. Companies of adventurers, conceived and funded in London, opened up large swathes of Canada to international trade.
The Bank of Canada has today updated its Rules Governing Advances incorporating changes supporting the new Term Loan Facility announced 12 November 2008.
In light of the effect on its balance sheet of the extraordinary transactions being undertaken to provide term liquidity, the Bank of Canada is adjusting its purchase of nominal bonds at auctions.
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 12 November, the Bank of Canada announced today that it will enter into a 26-day TLF transaction as follows: