The Canadian financial system is “firing on all cylinders,” Mark Carney, the head of Canada’s central bank, the Bank of Canada, told CNBC Friday.
“We’re in a different situation than in the United States,” said Carney, who is the “Ben Bernanke” of Canada.
Unlike the rest of the G7 countries, Canada is the only one to raise interest rate: On September 8, it upped its rate ¼ of a percent, to 1 percent.
“Our economy is back to the pre-recession peak, both in output and employment.”
Carney said what happens in the United Statesis naturally a major concern to Canada, as the country is the America's largest trading partner and it's a predominant destination for Canada's exports.