Canadians will have to get used to a weaker, range\u002Dbound loonie for some time. Find out more.
Fast forward a year and you have the same government facing serious allegations about being under the influence of the Chinese government. This is likely going to get worse before it gets better, since this rabbit hole goes so deep that Trudeau’s foundation recently decided toWe think rising interest rates will have a much greater impact on Canadians than our American cousins.
This means higher interest rates will have a bigger impact on the Canadian economy and inflation than in the U.S. You can already see this in last week’s negative 1.2-per-cent annualized gross domestic product print in Canada for December, while U.S. GDP is slowing, but still came in at an annualized 2.7-per-cent expansion.
Consequently, we think the Bank of Canada will refrain from hiking rates further while the U.S. will likely continue, which could put further pressure on theOil and gas once provided a huge support to our dollar. That has changed because of land-locking energy policies such as Bill C-69 as well as a lack of appetite from capital providers to be seen investing in higher-carbon-emitting projects like the oilsands.
It was the massive amount of capital inflow into the energy sector that drove our dollar higher in the early 2000s and absent this, we think our dollar will remain delinked from oil prices.value did nothing to boost our level of productivity, so we still need a low dollar to compete with our neighbours.
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