Economic Forecast Slashed Again
February 22nd, 2007 by Marty
Forecasting the economic picture in Canada is starting to look as easy as forecasting the national weather. David Dodge once again defended the Bank of Canada’s “lack of movement” on interest rates for the 5th consecutive time, and proceeded to cut its estimates on Canadian economic growth.
The weak Loonie seemed to matter little as oil prices continued to fall. For Canada that is a double edged sword…lower energy costs, but a strain on Canadian oil producers who are damaged by lower prices.
Some are beginning to question the foundation for Bank of Canada’s decisions
because of its heavy reliance on productivity levels, which can and have been volatile
and often “revised”, due to its non-scientific nature. All in all, inflation has been held in
check. Let’s see “Weather” or not the Bank of Canada got the forecast correct this
time!
Dawn Blainey
Personal Choice Mortgage
Services
Ph. (905) 897-9555
Cell.1-866-710-8889
Commentary by
Dawn Blainey
If your customers are feeling the squeeze from high credit card debt, now is the time to get their house working for them. Call today and let’s help relieve the pressure!
