Free Trial

Morneau Fiscal Update Preview -.........>

CANADA DATA
CANADA DATA: Morneau Fiscal Update Preview - approx. 10:45 EDT
----------------------------------------------------
-Finance Minister Bill Morneau has already introduced measure to implement
household tax cut worth C$690m through fiscal year ending March 31, C$3b in
fiscal 2020-21
-That will be added to deficits of C$21.1b in fiscal 2019-20 and C$23.3b in
fiscal 2020-21, as projected by independent parliamentary budget office last
month
-Morneau given mandate letter by PM Trudeau Friday saying he must keep a lid on
debt-to-GDP, save fiscal firepower in case of a downturn, protect Canada's AAA
bond rating
-Liberal Party lost majority in Oct. election, needs opposition support to stay
in power
-BOC has said any fiscal boost will go into projections for its next rate
meeting in January; has resisted cutting highest rate in G7 as domestic spending
eases damage from trade war

To read the full story

Close

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.