It looks like Canadian investors can enjoy a sigh of relief: the U.S. Federal Reserve signaled today that it wouldn’t raise rates. It also introduced an increasingly cautious approach by cutting the number of rate increases expected in 2017 and 2018. The long-run interest rate forecast was also reset lower to 2.9% from 3%. Why
Britain’s exit from the European Union is expected trigger increased volatility in global markets for months and years to come. Fears of the fallout were immediately manifested in global financial markets Friday, which lost about US$2 trillion in value, while the British pound suffered a record drop to a 31-year low.
The Canadian dollar is on track to experience its second-biggest decline on record against the U.S. dollar, and analysts forecast the currency could go lower before it bounces back next year. The loonie is now down nearly 17 per cent against the greenback for 2015, the biggest drop since 2008,
Canada’s economy expanded at a 1.8 per cent annual pace during the last quarter, the same growth seen at the start of the year and slightly better than what economists were expecting. Statistics Canada said Friday that an increase in business investment was the biggest factor contributing to growth. Economists
Stocks, the Canadian dollar and commodities all soared Friday in the wake of an agreement among European leaders to a set of prescriptions for their debt crisis. But analysts questioned how long the rally would hold. In Toronto, the S&P/TSX composite index closed up 171.86 points, or 1.5 per cent,
The Canadian dollar climbed above the $1.02 US level for the first time in seven months on Friday as the currency continued to rally following the Bank of Canada’s recent shift to a more hawkish tone and U.S. GDP figures disappointed the markets. The loonie traded as high as $1.0204