Chancellor of the Exchequer Sajid Javid may wait to name a successor to Bank of England Governor Mark Carney until after Britain’s planned Oct. 31 departure from the European Union, according to a person familiar with the process.
Statistics Canada says manufacturing sales fell 1.2 per cent to $58 billion in June, led lower by a drop in the petroleum and coal product and food industries.
The European Union poured cold water on Boris Johnson’s attempt to renegotiate the Brexit deal, saying the so-called backstop to prevent a hard Irish border -- which the British prime minister wants scrapped -- was a vital part of the divorce agreement.
More economists are coming around to the view the Bank of Canada will have to cut rates this year, with a move as early as September looking increasingly possible.
The Bloomberg dollar index climbed to its highest level since December, gaining ground after Federal Reserve Bank of Boston President Eric Rosengren cast doubt on the need for more interest-rate cuts to support the U.S. economy.
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