Carney said he and Flaherty had enjoyed an effective partnership and added he will miss the camaraderie and clear sense of purpose he experienced with the finance minister. He praised the strength of the central bank and reiterated his confidence in it.
A smiling Flaherty said this moment is “bittersweet,” and that the loss of Carney will be felt in Canada.
Carney’s rumoured appointment to the Bank of England was the source of published reports last spring, and at the time he and the Bank of Canada denied the reports.
“I’m totally focused on my two responsibilities: as governor of the Bank of Canada, and the Financial Stability Board,” Carney told reporters on April 18. “I can assure you they add up to more than every waking hour of the day.”
I’d leave a job that added up to more than ‘every waking hour of the day’ as well.
Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney both pledged Wednesday to take action to support the economy if a shock from the U.S., or Europe, threatened to once again plunge the country into recession.
“We are a pragmatic, sensible government. If our economy goes into recession because of an external shock from the United States or the eurozone, or both, we will take steps to stimulate the economy,” Flaherty told the Commons finance committee in an evening session.
“What we have done before we will do again. We will not do exactly the same thing again…but we are not going to stand by and have the Canadian economy slip deep into a recession with high unemployment.”
Hey, it’s springtime in paradise! It’s also the end of another work week and that means it’s time for another news roundup and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat: