BOC: If the world goes to hell, we’ll go too

In its financial stability report the BOC says that while Canada’s financial system is in very solid shape, if a global sovereign debt crisis erupts, Canada will be impacted too.

No big surprise there; we all will be embroiled, as recent events have illustrated.

On the wires, Canada’s FinMin says he is concerned about the Canadian dollar’s volatility, not its level. He says relative strength of the Loonie makes sense given Canada’s weathering the of the global recession. He hopes for more details from the Chinese on their Yuan plans, and perhaps even a schedule, at the G20.

Good luck with that!