After several years of exploring the possibility of introducing a digital currency in Canada, the central bank is shelving the idea. The Bank of Canada confirmed to CBC News it has shifted its focus away from the idea of introducing a digital Canadian dollar, which could be used for online purchases and money transfers. The … Read more
U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 1.6 per cent in midday trading and on track to break a brutal three-day losing streak. It had tumbled a bit more … Read more
Bank of Canada governor Tiff Macklem says the central bank has to rebuild trust with Canadian households. After the last two years of interest rate hikes and messaging missteps, that’s not going to be an easy job. The central bank cut rates this week for the first time since March 2022, when it embarked on one … Read more
