Canadian Finance News Headlines // May 6th 2016
The Canadian labor market stalled in April, leaving the unemployment rate unchanged at 7.1 percent, while job losses in Alberta showed the province was continuing to struggle with the fallout of cheaper oil.
Stock futures pointed to a lower opening for Canada’s main stock index on Friday as investors awaited the U.S. April payrolls report for more clues about the interest rate outlook in the world’s largest economy.
For the better part of the past two centuries, central banks have played an important role in the maintenance of financial stability, but primarily one of “stress or crisis management.” In particular, central banks have served as lender of last resort, providing liquidity to prevent stress from sparking contagion in solvent, but illiquid, financial institutions.
But that role is starting to change.
