The bank suggested in a forecast in June that the province's economy would grow by a "paltry" 0.5 per cent this year and a slightly better 2.1 per cent next year.

Federal Reserve Chairman Jerome Powell said the central bank is “carefully monitoring” downside risks to U.S. growth and “will act as appropriate to sustain the expansion,” reiterating concerns last week that cemented expectations for an interest-rate cut later this month.

President Donald Trump reiterated that he could impose additional tariffs on Chinese imports if he wants, after promising to hold off on more duties in a trade-war truce he reached with China’s president, Xi Jinping, at the Group of 20 summit last month.

International Monetary Fund Managing Director Christine Lagarde resigned from the role that she’s held for nearly a decade as she prepares to lead the European Central Bank.

Global central bankers are again in the driving seat when it comes to propping up the world economy, but many are demanding governments join them in the rescue effort.

The biggest news from Jerome Powell’s congressional testimony last week may not have been the one that moved markets and grabbed the headlines.