As expected, Ottawa presented a cautious budget for 2017 that focused more on implementation than on bold new initiatives, and there is much to commend about Finance Minister Bill Morneau’s wait-and-see approach.
Canadian housing prices, which have nearly doubled over the past decade, may finally be at a turning point.
After much anticipation, the U.S. Federal Reserve hiked the federal funds rate by 25 basis points (bps) signaling the start of a cautious tightening cycle after seven years of a near zeroper cent policy rate. What does this mean for Canada?
Canadians went to the polls on Monday and gave Liberal Party leader Justin Trudeau enough seats to form a majority government after nearly a decade of control by Conservative Prime Minister Stephen Harper. For Canadian capital markets, however, the change is unlikely to be meaningful.
As PIMCO expected, the Bank of Canada (BOC) cut the overnight lending rate by 0.25% to 0.50%, the second rate cut this year. Our baseline forecast is that this will be the last rate cut for 2015.