Economy

Welcome to the trough: BoC

While the Bank of Canada’s Monetary Policy Report confirms the outlook for growth in 2009 and 2010 will remain broadly unchanged from its April Report, it has considerably toned down the risk of a sustained economic decline. At the time of the April Report, the Bank had projected the recession in Canada would deepen further […]

By Kanupriya Vashisht |July 23, 2009

4 min read

Bank of Canada’s optimism questioned

As promised months earlier, the Bank of Canada chose to stand pat on holding its current overnight lending rate at 0.25% until the second quarter of 2010. With this announcement came some of the rosiest economic predictions seen in months. In the decision statement, the bank said the “dynamics of the recovery” in Canada remain […]

By Mark Noble |July 21, 2009

5 min read

Export sector a hostage of global economy

Canada’s export sector will continue to struggle through 2009 and well into 2010, as the global economy shakes off the recession, according to Export Development Canada. Total export value for 2009 will be off 21% compared to 2008, and the EDC predicts only 6.6% growth in 2010. “The good news is that global commerce is […]

By Steven Lamb |July 9, 2009

2 min read

Global recovery to ramp up in 2011

Stock values and commodity prices may be on the rise, and there has not been a major bank failure in months, but it is still too early to say a global economic recovery is underway, according to one think-tank. “Expectations of ‘green shoots’ haven’t been met,” says Nariman Behravesh, chief economist for IHS Global Insight. […]

By Steven Lamb |June 30, 2009

2 min read