Martin Cej – Wanted: BoC Governor - BNN Blog
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Wanted: BoC Governor


Today’s Top Tip for Bank of Canada Governor candidates:

If fortunate enough to make it to the interview stage and asked what you consider your greatest weakness, or what you would most like to change about yourself, say that being a perfectionist (established earlier when asked about your unique qualities!), some times you drive yourself and others too hard. Trust me: That’s how I nailed an RA job in college. Never fails. Never.

  • We continue to examine all the angles in Mark Carney’s appointment to Bank of England Governor. Well, most of the angles. We were scooped overnight by British tabloid The Sun when it broke news with the headline “Headbanger to Head Banker!” The stop-the-presses story revealed that Carney used to play AC/DC’s Back in Black before "ice hockey games while a student at top US university Harvard." We hope to advance that story with Carney’s Goals Against average and beer pong record. We will also examine the possible candidates for the top job at the Bank of Canada and make clear the economic and monetary responsibilities she or he will be taking on.
  • The OECD helped us on this front by publishing a fresh Economic Outlook that lowers forecasts for global economic growth but still warns that in Canada, "economic slack is not large, so that a shift toward a tightening stance by the latter half of 2013 may be needed." Slow growth? Higher rates? Succeeding Carney? Talk about pressure. We’ll speak with OECD chief economist Pier Carlo Padoan at 10:40 am Eastern. At 12:30 p.m. ET, we’ll ask former Bank of Canada Governor John Crow about the challenges that face Carney in Europe and legacy he leaves behind in Ottawa.
  • I’m already out of time due to several Key Meetings held in my office this morning (plus the first holiday party last night) so I’ll be brief with our other top stories: Bombardier said it has received the largest order for business jets in its history. British-based VistaJet has signed a contract for 56 Global-series aircraft plus options for 86 more. The initial order is worth $3.1 billion US and will soar to $7.8-Billion if all the options are exercised. Bombardier shares jumped 4 percent in German trading.
  • Amid a flurry of acronyms, an agreement was reached to lend 34.4-billion euros to Greece. Institutional lenders reached a deal early today in Brussels that is expected to pave the way for the country to eventually receive a total of 44-billion euros of financial assistance, while bringing its debt down to a sustainable level. Euro-zone finance ministers, the European Central Bank and the International Monetary Fund -- called “the Troika" by the press but known as something completely different in Greece -- reached the agreement in a meeting that ran into the morning hours.
  • ConAgra Foods Inc. agreed to buy Ralcorp Holdings for $5 billion to become the biggest private label food company in North America. That’s a lot of ravioli!

Every morning Managing Editor Marty Cej writes a "chase note" to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Click here to have it delivered to your inbox before the trading day begins.


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