Carney Warns Supply Shocks Forcing Central Banks to Adapt; Freeland Pitches Canada's Potential in Clean Energy Transition
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Former Bank of Canada governor Mark Carney warned at the World Economic Forum that global supply shocks are becoming more persistent, forcing central banks to adapt their approaches to taming inflation.
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Carney said "the world is being rewired" in terms of trade routes, energy systems, and intelligence in ways that could cause supply shocks but ultimately bring greater resilience.
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Progress has been made in restoring price stability, Carney said, but the "job is not complete" in fighting inflation.
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Canadian Finance Minister Chrystia Freeland pitched global investors on Canada's potential to capitalize on the clean energy transition due to its critical minerals and manufacturing capacity.
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Freeland said the government aims to help Canada's natural advantages in the new economy along with supportive policies like tax credits for clean energy investments.