Canadian Outlook Economic Forecast: Financial markets—July 2020

The Conference Board of Canada, 10 pages, July 27, 2020
Issue briefing
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This quarterly economic forecast presents the medium-term outlook for the Canadian economy. This release focuses on financial markets. For an overview of all major components of the economy, download the Canadian Outlook Summary.

Document Highlights

  • Central banks around the world have taken dramatic action to protect economies and financial markets.
  • The Bank of Canada cut rates by 150 asis points in March and April, to 0.25 per cent. The Bank has said this is the effective lower bound for rates in Canada.
  • The Bank of Canada has begun quantitative easing, and it has been directly monetizing federal and provincial government debt.
  • The U.S. Federal Reserve cut rates by 150 asis points in March, to 0.25 per cent. Chairman Jerome Powell indicated that rates will remain at this level until 2023.

Table of Contents

Key findings

Financial markets snapshot

Central banks take quick action in face of crisis

Bank of Canada announces wide range of measures to protect economy

Inflationary pressures to drive prices up despite slow growth

Loonie drops to its lowest level in years before rebounding

Federal Reserve acts decisively

Monetary policy in other countries

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