-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessIMF:Despite 2017 Upgrade,Canada GDP To Underperform US In 2018
By Yali N'Diaye
OTTAWA (MNI) - The International Monetary Fund upgraded Tuesday its World
Economic Outlook for both 2017 and 2018, partly as a result of a stronger
performance in advanced economies this year, including Canada.
With a 0.5-point upgrade to Canadian GDP growth in 2017 to 3.0% relative to
July, and a 0.1-point upward revision to U.S. GDP to 2.2%, Canada is now seen
outperforming its largest trading partner by 0.8 points this year, twice as much
as the 0.4-point outperformance expected in the July update.
Like other oil-exporting countries such as Norway, the 2017 growth pickup
in Canada "reflects reduced drag from the adjustment to lower oil and gas prices
and accommodative fiscal and monetary policies."
The Bank of Canada has signaled it will likely upgrade its growth forecast
for 2017 from the current 2.8%, Governor Stephen Poloz having acknowledged the
"huge" number in the second quarter, when annualized GDP reached 4.5%. The
central bank also expects growth to slow but to remain above potential in the
second half of this year. Growth potential is currently estimated around 1.5%
according to a recent speech from Deputy Governor Sylvain Leduc. The July
Monetary Policy Report said the range for potential output for Canada is 1.0% to
1.6% for 2017, and 1.1% to 1.7% for 2018.
Despite the large upgrade to Canada's 2017 GDP growth projection, the IMF
still sees Canadian growth underperforming the U.S. in 2018 by 0.2 points, with
U.S. real GDP growth projected to pick up to 2.3%, while Canadian growth will
slow to 2.1%, both slightly above the Bank of Canada's estimates of 2.1% for the
U.S. and 2.0% for Canada.
In addition, the IMF noted subdued inflation in "many other advanced
economies," Canada being no exception, with an annual average CPI of 1.8% in
2018 after 1.6% in 2017.
"Sluggishness in core inflation in advanced economies - a surprise in view
of stronger-than-expected activity - has coincided with slow transmission of
declining unemployment rates into faster wage growth," the IMF said.
--MNI Ottawa Bureau; +1 613 869-0916; email: yali.ndiaye@marketnews.com
[TOPICS: MACDS$,M$C$$$,MI$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.