As Mark Chandler sees it, the Bank of Canada has “more to fear now than fear itself.” So markets will be watching closely for the tone of this morning's rate-decision statement from Governor Stephen Poloz and his central bank colleagues.
The Bank of Montreal's U.S. exposure was a drag on earnings in the second quarter. The lender kicked off earnings season Wednesday with an in-line adjusted profit and a divident boost.
The walkout began after construction companies and labour federations continued to negotiate ahead of a strike deadline of midnight Tuesday, but were unable to sign new collective agreements.
Almost three quarters of Canadian homeowners would have difficulty paying their mortgage every month if their payments increased by as little as 10 per cent, a new survey from Manulife Bank suggests.
Canada's main stock index rose on Tuesday, bolstered by bank stocks ahead of the release of earnings reports and a surge in BlackBerry Ltd shares, as trading resumed a day after the Victoria Day holiday.