The Organisation of Economic Co-operation and Development has reduced its 2015 and 2016 economic growth forecasts for Canada, citing the drag caused by a significant drop in prices for oil and other commodities since its previous outlook in November.
Global investors have significantly pared back U.S. equity allocations as belief grows that the U.S. Federal Reserve will raise rates in the second quarter, according to the BofA Merrill Lynch Fund Manager Survey for March.
The growth of global GDP will likely pick up in 2015 and 2016 from the pace of the last three years mainly thanks to lower oil prices, the disappearance of special drags on the world economy and ongoing easing of monetary policies.
With another rate cut likely coming from the Bank of Canada and weak oil prices hurting economic growth and exports, the Canadian dollar is seen sliding to 77 cents U.S., finds a report from CIBC World Markets.
TD Economics predicts the Bank of Canada will cut the overnight rate again this year.
How will Canada's economy perform this year? How will the plunge in oil prices affect world economies, including Canada's? And what's the outlook for equities and bonds?
The European Central Bank on Thursday launched its most aggressive effort to date to revive the region’s ailing economy—announcing an 19-month program to buy 1.1 trillion euros in government and private bonds starting in March.
On Wednesday, the Bank of Canada cut its overnight rate target for the first time since Sept. 2010. The rate’s now 0.75%.
The Bank of Canada is lowering its target for the overnight rate by 0.25% to 0.75%. It’s been 1% since September 2010.
Hope economists are right about how equities will do over the next year? Don't hope too much.