Carney to address global pressures on domestic economy

TORONTO, Ont. – Mark Carney, the governor of the Bank of Canada, will address the nation in an afternoon speech Monday, focusing on how global economic pressures are having an impact on the domestic economy.

Carney’s words will be carefully examined for any signals revealing the Bank of Canada’s policy heading into 2012, with economic expectations being lowered as Europe continues to deal with sovereign debt.

In a financial system review last week, the Bank of Canada issued a red flag on the economic outlook for 2012, citing the issues in Europe as the greatest risk to the health of our economy.

Carney’s speech to the national forum, presented by the Canadian Club and Empire Club, will also have wider ranging implications following Carney’s recent appointment to head the Financial Stability Board, which has been given the task of making changes to the banking system.

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