(Source: The Globe and Mail)
The new chief economist for Merrill Lynch Canada has finally landed and published a forecast that is significantly more optimistic about the Canadian economy in the short run, but less enthusiastic for next year.
Sheryl King, who was a senior U.S. economist for the firm but moved to Toronto last week, believes the Canadian economy has begun to grow and will pick up strength throughout the rest of the year.
But she also projects that the Bank of Canada will get carried away with the surge in growth, scale back its economy-fuelling measures too fast, and undermine the recovery.
“It will choke off growth,” Ms. King said in an interview. “The upturn in the economy will be very short-lived indeed.”
Read Heather Scoffield’s full article “Canada’s economic bounce will be short-lived, Merrill Lynch says” in the Globe and Mail (July 6, 2009).