The Royal Bank trimmed its forecast for the Canadian economy
According to Eric Beauchesne in the Financial Post, Saturday, October 14/06, the Royal Bank trimmed its forecast for the Canadian economy Friday, October 13/06, as it cut in half its growth prediction for Ontario, and warned there’s even a risk the nation’s most populated province may fall into a recession this year.
In that article, Craig Wright, RBC Chief Economist, is quoted as saying the loonie will weaken further to US85.5 cents by year-end (2006), and then to US$80.6 cents at the end of next year. According to him, the Bank of Canada will keep interest rates steady until the end of next year, when it will start lowering them.
He claims the U.S. Federal Reserve will also keep rates steady until the third quarter of next year, when it too will begin lowering them.
www.forexmentor.com
In that article, Craig Wright, RBC Chief Economist, is quoted as saying the loonie will weaken further to US85.5 cents by year-end (2006), and then to US$80.6 cents at the end of next year. According to him, the Bank of Canada will keep interest rates steady until the end of next year, when it will start lowering them.
He claims the U.S. Federal Reserve will also keep rates steady until the third quarter of next year, when it too will begin lowering them.
www.forexmentor.com
0 Comments:
Post a Comment
<< Home