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Reuter’s survey revealed that the Bank of Canada will keep its interest rates steady at 1.75% on Wednesday. However, monetary easing is seen to be imposed before the year ends, according to a significant number of economists surveyed in the poll.
Twenty of 34 or 60% (majority) of the economist-respondents said that Canada’s central bank would not move its benchmark overnight rate until the end of this year, relatively lower than the previous 70% votes that said the same thing in January.
“The labor market is starting to slow down, consumer spending is definitely not there, business investment is clearly disappointing and exports outside energy are not rising in any significant way,” Benjamin Tal, chief economist at CIBC Capital Markets said, implying a negative outlook in the Canadian economy.
According to the survey conducted on Feb. 24-27, only six economists believed that a rate cut is possible to occur on March 4, the next policy meeting schedule of the central bank.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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