Month: March 2015
Global economic growth will be flat this year and likely next, at 3.2 percent, as the emerging world slows and the U.S. economy outpaces the rest of the developed world.
Much has been made of one sentence in the Federal Reserve’s prior press release in late January: “Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy.”
The province that was the envy of all others is now confronted with serious budgetary red ink, estimated at about $7 billion. Thanks to the oil price rout, royalty income has plunged and the overall economy has slowed dramatically.
In January, the Bank of Canada cut interest rates by one-quarter-percentage point. This led to a number of our offices reporting higher than usual activity over the last month.