CARNEY ISSUES WARNING TO GLOBAL BANKS

Aug 09, 2012

By Jane Brown

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Among the high profile Canadians in London, England this week for the Olympics is Bank of Canada governor Mark Carney, who’s issued a warning to global banks.  Speaking in his other role as head of the Swiss-based Financial Stability Board, Carney told the BBC he’s willing to blow the whistle on banks that break international norms or don’t comply with agreed upon reforms. Carney also put an end to suggestions he’d be willing to accept next year’s opening as governor of the Bank of England.  As for interest rates here in Canadda, Carney says it’s unlikely the central bank will hike them in the short term.

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