Comments from Canadian finance minister Jim Flaherty:
- He regrets that Canadian mortgage agency (CMHC) got so large
- Canadian banks doing well, profitable
- Flaherty says Canada is on track to balance the budget in 2015
Flaherty, proving that you don’t need to know much about the economy to be finance minister, is also saying that part-time jobs gains in Canada were due to ‘seasonality’… the numbers are seasonally adjusted.
USD/CAD is caught in the whipsaw with the rest of the market, after a surge to a three-year high of 1.0708, the pair is right back down to 1.0649.
