Erik Hertzberg

Annette Ryan will become Canada’s fourth parliamentary budget officer, an independent watchdog of government finances, after parliament approved her appointment on Tuesday.

Prime Minister Mark Carney chose to spend a revenue windfall on measures to support building major export-boosting projects, leaving Canada’s fiscal trajectory little changed.

The Bank of Canada held interest rates steady, saying adjustments to borrowing costs would be likely be small if the economy and inflation evolve as expected.

Canadian government bonds were hammered after the Bank of Canada’s top official raised the prospect of back-to-back rate hikes if energy prices cause broader inflation — just as oil was spiking.

The Bank of Canada is weighing whether to spell out how it responds to supply shocks in its monetary policy framework, including how much emphasis it places on the strength of the economy when tackling inflation.

Plus: AirAsia gets on board with Buy Canada

The Bank of Canada struck an optimistic tone on the economic impact of artificial intelligence, arguing that widespread adoption of the technology will boost the country’s ailing productivity without significant job losses.

Bank of Canada officials discussed a “range of views” on the most likely path for interest rates last month, weighing various possible outcomes of the Iran war and a review of the North American trade agreement.

The Bank of Canada struck an optimistic tone on the economic impact of artificial intelligence, arguing that widespread adoption of the technology will boost the country's ailing productivity without significant job losses.

Canada’s finance minister said the country’s planned sovereign wealth fund will be designed to allow citizens to contribute to major nation-building projects, but isn’t intended to reduce their tax burdens.