Reuters
OTTAWA (Reuters) -The Bank of Canada is ready to step in with support if the banking system comes under severe strain, but now it is not even close to being worried about the health of the financial system, Deputy Governor Toni Gravelle said on Wednesday. In a speech to financial services professionals in Montreal, Gravelle also said the central bank's quantitative tightening (QT) program will have run its course by the first half of 2025. The failures of U.S. lenders Silicon Valley Bank and Signature Bank, followed by Credit Suisse's rescue, are prompting central bankers to closely monitor the potential for banking stress to trigger a credit crunch.