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The Bank of Canada will cut approximately 10% of its staff, affecting 225 employees, as part of a government initiative to reduce expenses and achieve significant budget savings by 2026.
The Bank of Nova Scotia is reducing its workforce across multiple departments in Canada as part of a broader strategy to enhance efficiency and focus on growth.
Canada's government is in talks with major public pension funds to increase investment in domestic businesses, aiming to shield the economy from U.S. trade tariffs.
Bank of Canada's Senior Deputy Governor, Carolyn Rogers, has labeled the country's banking system an oligopoly, linking a lack of competition to Canada's productivity slump.
