CIBC World Markets report says Canada’s hot real estate market will cool off as listings climb and mortgage rates begin their ascent…
(Source: CBC News)
The Canadian economy will roar back to strength in the first half of this year only to run out of fuel later in 2010 as foreign demand dwindles and the Canadian dollar appreciates on expected interest-rate hikes from the Bank of Canada, says an updated forecast from CIBC World Markets.
The economy will enter 2010 “like a lion,” said Avery Shenfeld, the firm’s chief economist. “But the fading benefits of [stimulus] measures, and the lingering hangovers from the past two-years’ turmoil, will see us exit like a lamb. An average-looking year for GDP growth as a whole will mask some quite varied temperature readings on a quarterly basis.”
Read the full article, “Canadian economy will roar ‘like a lion,’ then fizzle, CIBC says” at CBC News (Jan 14, 2010).