Last week the Bank of Canada decided not to change its target for the “overnight rate” of interest at which lending takes place among large financial institutions. It was a non-move that had extra significance in light of recent speeches by members of the bank’s Governing Council. Statements by Gov. Tiff Macklem and Deputy Gov. Paul Beaudry before Christmas had led to speculation about the possibility of a “micro-cut,” a cut in the target overnight rate of less than 25 basis points, if weak economic conditions warranted such a move. With the bank now predicting negative economic growth this quarter, such a cut might have seemed justified.
But it didn’t happen. To us, this time, that was the right call. Here’s why.
First,…
Shaping a successful economy with much lower GHG emissions will be an ever-present challenge for the next three decades. The low-carbon transition has begun, but is still at a very early stage; we have only a broad idea of what the transition might look like in the years ahead. Nevertheless, legislative assemblies, including here in Canada, have charged ahead and declared the ambition of attaining an economy with no net GHG emissions by 2050.
There will not be a single common pathway – many already exist or will emerge, and they will compete for market positioning for consumers and businesses. Rather than referring to pathways, it would be more accurate to refer to an evolving energy-transition road map, with many…
Comme les tulipes au XVIIe siècle, les bitcoins sont emportés par une bulle, ce qui montre bien que la fièvre des spéculateurs est récurrente. Les tulipes mènent aujourd’hui une existence bien terre-à-terre, contentes d’être jolies et d’annoncer le printemps. Je cherche encore l’utilité des bitcoins.
En 1637, les marchands néerlandais payaient des prix fous pour les bulbes de cette fleur exotique, importée de l’Empire ottoman, particulièrement la rare variété à motif tigré. Première crise spéculative documentée, la « tulipomanie » a brûlé des fortunes factices.
On n’aura pas davantage à pleurer l’éventuelle déconfiture des « baleines », le surnom donné aux gros détenteurs de bitcoins, qui ne sont…
