Canada Economics

Canada Economics Weekly

14 December, 2018

Canadian oil price rally will soon lose steam

While Canadian oil prices have rallied in recent weeks, we expect discounts against international oil benchmarks to widen again next year, which will weigh heavily on energy investment and economic growth in 2019. Otherwise, the downward revision to capacity utilisation in the third quarter is another reason to think that the Bank of Canada will leave interest rates on hold in the coming quarters. And finally, there are mixed messages from the latest housing market data.

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