The global economy is off to a weaker than anticipated start in the second half of the year noted senior international officials. Angel Gurria, secretary general of the Organization for Economic Co-operation and Development (OECD) has said that a slowdown in the recovery had been forecast for the third and fourth quarters and was on
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Canada’s economy will remain in slow growth with high unemployment for the next year and a half says a new forecast from Toronto-Dominion Bank (TD). TD has said that Canada is facing several headwinds that will be holding back the economy from returning to robust growth. TD economists have said that the average 4.3% growth
Bank of Canada Governor Mark Carney has noted that commercial banks can pay for the cost of financial system reform by cutting expenses. The expense Carney is talking about is personal expenses, rather than passing any costs to its customers. The head of Canada’s central bank completely agreed to the G20 reform process that calls
Global financial regulators have agreed on new banking rules that are designed to strengthen bank finances, ultimately reigning in on excessive risk taking to avoid another crisis. These new global rules that require banks to increase their balance sheets will be paving the way for Canadian banks to boost their dividends and consider foreign acquisitions
Global financial regulators have agreed on new banking rules that have been designed to strengthen bank finances and rein in excessive risk taking to help prevent another crisis. With the new rules, banks will be forced to hold more and safer kinds of capital to offset the risks they take lending money and trading securities.
Canada’s economy experiences rapid gains in the early part of the year, however it slowed down in the second quarter and is expected to rebound modestly over the second half of the year noted the latest Economic Outlook report from RBC Economics. RBC has adjusted their 2010 forecast slightly, expecting Gross Domestic Product (GDP) growth
Global recovery seems to be slowing down more than expected as growth weakens in rich economies, and stimulus should be extended if the slowdown endures noted the Organization for Economic Co-operation and Development (OECD). The OECD forecast growth across the G7 group of major economies to average an annualized 1.4% in the third quarter and