Canadian dollar to stay just below par and GDP will grow at just two percent: BMO’s 2


Johnnny
#1
Canadian dollar to stay just below par and GDP will grow at just two percent: BMO’s 2012 outlook - MINING.com (external - login to view)

Quote:


In 2012 the Canadian dollar is predicted to stay just below par and Canadian GDP will grow just two percent, according to Doug Porter, Deputy Chief Economist at BMO Capital Market, who released his 2012 predictions on Boxing Day.
“Despite Canada’s many inherent advantages, the loonie dipped against most other major currencies (including the euro) in 2011. We look for the Canadian dollar to remain a bit below parity in the coming year, held back by an uncertain and softer global economic backdrop,” writes Porter.
Canada’s economy will be held back due to government fiscal restraint.
“We have recently nudged up our Canadian GDP growth outlook for next year to 2 per cent, but this is a bit below both this year’s result (2.3 per cent) and the U.S. forecast for next year. We will see fiscal policy shift more notably to restraint from about neutral in 2011, with both the federal and many provincial governments leaning more heavily on the brakes.”
Andrew Busch, Global Currency and Public Policy Strategist at BMO, believes that Europe will be a drag on growth. European GDP will be negative for the first half of the year as the continent grapples with the debt crisis.
China is still an unknown at this time.
“There is the question of whether the Chinese will begin to ease back from the...

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i dont know alot about economics and that jazz, but i did find out that our Dollar Is one of the major currencies of the world, which i thought of as being "cool". And that our dollar floats againsts the worlds best currencies out there.... And so far were holding strong, thanks to the resource industry!!!!
 
Durry
#2
Quote: Originally Posted by JohnnnyView Post

, thanks to the resource industry!!!!

Errr, the resource industry in Western Canada,,, just a clarification !!
 
taxslave
+1
#3  Top Rated Post
Quote: Originally Posted by DurryView Post

Errr, the resource industry in Western Canada,,, just a clarification !!

Newfoundland isn't doing so bad. Like B.C. they could probably do even better if the feds would quit meddling.
 
Durry
#4
Quote: Originally Posted by taxslaveView Post

. they could probably do even better if the feds would quit meddling.

One way they could stop meddling is to stop giving welfare money to provinces who make poor financial decisions and then they can't pay their bills..

The policy should be, you make your bed, you sleep in it !!
 
taxslave
#5
Quote: Originally Posted by DurryView Post

One way they could stop meddling is to stop giving welfare money to provinces who make poor financial decisions and then they can't pay their bills..

The policy should be, you make your bed, you sleep in it !!

But Ontario and Quebec have lots of votes. And to politicians it is all about getting (re)elected, not good or bad policy.

I was thinking more about federal agencies taking it upon themselves to over rule provincial decisions as in the federal moratorium on drilling off the BC coast and stopping the Prosperity mine both of which have provincial approval. Or DFO somehow wrangling control over fish farms when we all know that the main reason the greenies wanted this is because of DFO's track record of destroying every fishery they have ever had control of. Those of us with an investment in the future prosperity of the province were quite happy with the farms being under provincial control.
 
petros
#6
The pensions and saving of those in the east are funding the western resource development so quit ****ing whining already.
 
mentalfloss
#7
That can't be good for healthcare if it is going to be linked with GDP.
 
taxslave
#8
Quote: Originally Posted by mentalflossView Post

That can't be good for healthcare if it is going to be linked with GDP.

WHat would you prefer that it be linked to? The wishes of government unions?
 

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