Aug 31, 2022
The outlook for Canada’s economy is murky. Recession fears are rising, although very few economists are projecting a sustained downturn. The Bank of Canada forecasts growth will slow to an annualized rate of 2 per cent in the third quarter. It also expects the economy to grow 1.8 per cent in 2023 – a hefty downgrade from 3.2 per cent in a previous forecast.
Here is our forecast! You will see a slow 4th quarter, Another 100 basis point interest increase announced in two either a bold 75 (September) 25 (November) or and even split 50/50.
Predict a October (by second week) “hick up” in the stock market of 2-4% drop in a frenzy day causing the decline of the stock market in the new year.
A general financial stress overall in the new 2023 year prompting mid to high priced housing to be effected the most.