There are signs of strain in the Bank of Canada’s monetary-policy framework that has served Canadians so well over the past quarter-century, delivering low and stable inflation.
Apparently aware of the challenges ahead, the bank’s senior deputy governor, Carolyn Wilkins, went so far as to say in a recent speech that the bank will review all its policy options leading up to the next renewal (in 2021) of the inflation-control agreement between the federal government and the Bank of Canada. While some cracks are appearing, we would argue tweaks are all that is required.
The Bank of Canada has targeted inflation since 1991 and kept the target at two per cent since 1996. The inflation-targeting framework has delivered stable…
Ottawa must prioritize the well-being of off-reserve First Nations citizens - Globe and Mail Op-Ed
The 1996 Royal Commission on Aboriginal Peoples made prominent reference to a 1613 treaty between the Dutch and Mohawk: “Three beads of wampum separating the two purple rows symbolize peace, friendship and respect. The two rows of purple are two vessels travelling down the same river together. One, a birch bark canoe, is for the Indian people, their laws, their customs, and their ways. The other, a ship, is for the white people and their laws, their customs and their ways. We shall each travel the river together, side by side, but in our own boat.”
The intent of much Canadian Indigenous policy since 1996 has been to "strengthen the canoe.” Overall, this has been a worthy exercise in the pursuit of reconciliation with those…
The momentum around initial coin offerings (ICOs) continues to build. Since 2016, when less than US$100-million in ICOs was issued, more than $20-billion in capital has been raised. By the end of 2017, ICO funding originating in Canada totalled $175-million, good for eighth worldwide.
Naturally, skepticism of such a bonanza abounds. This is perhaps especially true when we talk about cryptocurrencies that, in and of themselves, have no value and seem ripe for fraud. However, despite these valid concerns, in a recent C.D. Howe Institute commentary, we argue that ICOs do indeed fill a market gap, under limited circumstances. What is critical for regulators and investors is determining these circumstances.
ICOs are a form…
