| Department of Finance Canada | statements
Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is maintaining the minimum qualifying rate for uninsured mortgages at its current level. This rate came into effect on June 1, 2021, and was reaffirmed on December 17, 2021.
| Department of Finance Canada | statements
With this decision today, we deliver on the commitment of G7 Leaders at their summit in Elmau to prevent Russia from profiting from its war of aggression against Ukraine.
| Department of Finance Canada | statements
Today HSBC Holding plc and the Royal Bank of Canada (RBC) have announced that they have concluded an agreement for the sale of HSBC Bank Canada (HSBC) to RBC, subject to the necessary regulatory approvals.
| Department of Finance Canada | statements
We express our unwavering support for APEC and are fully committed to helping Thailand, as APEC Chair in 2022, deliver a successful host year.
| Department of Finance Canada | statements
In our meeting on climate economics, we underlined our commitment to ambitiousclimate action and to promoting an orderly and just global transition towards net zerogreenhouse gas emissions. We were delighted to be joined by Nicholas Stern, AmarBhattacharya and Hans Peter Lankes for our discussion.
| Department of Finance Canada | statements
The pandemic and Russia’s invasion of Ukraine have highlighted the interconnectedness and fragility of our global food systems. Because of the war, we are experiencing the largest shock to the global food system since the 2008-09 food price crisis. Food price inflation is having a significant impact on food security around the world. We encourage the Bank to continue to help build resilient food systems through support to the intensification of climate-smart agriculture, improving energy use in food systems, sustainable agri-food value-chains, and overall better food system governance.
| Department of Finance Canada | statements
Global inflationary pressures continue to rise and are increasing costs of living and squeezing out the middle class. Extreme volatility has plagued commodity markets, increasing the cost of everyday goods including necessities such as food. The IMF must consider how best to assess and respond to growing global risks, many of which—including rising costs of food and fuel—have been exacerbated by Russia’s invasion of Ukraine.
| Department of Finance Canada | statements
We remain steadfast in our support for and solidarity with Ukraine. Equally, we remain united in our condemnation of Russia´s war of aggression against Ukraine and the tragic loss of life resulting from the war and reiterate the statement made by our Leaders on 11 October 2022.
| Department of Finance Canada | statements
G7 Finance Ministers' Statement on the united response to Russia's war of aggression against Ukraine
| Department of Finance Canada | statements
We note the publication today of a consent solicitation from Ukraine to defer the debt service due to bondholders from August 1st, 2022 and to extend payment maturities.
