Economy

Economists ready to write off 2009

If the bleeding stops before 2010, then 2009 will have been a success according to revised forecasts from economists. Even Jeff Rubin of CIBC World Markets, arguably the most bullish commentator in Canada, is underweighting stocks and moving to defensive positions as the economic crisis deepens. The “real” economy and the stock market do not […]

By Mark Noble |March 11, 2009

4 min read

Global losses estimated at $50 trillion

As the front line of the financial services industry, advisors are well aware that the current investment climate is among the worst in history. Now the data are in to support that. The global financial crisis sparked by interest rate resets in the American sub-prime mortgage market has now burned through $50 trillion U.S. in […]

By Steven Lamb |March 9, 2009

2 min read

BoC cuts rate to all-time low

As expected, the Bank of Canada cut its overnight lending rate by half a percentage point on Tuesday to 0.5% — the lowest rate on record. The rate cut comes amid a wave of similar rate cuts by global banks across the world as the global economy contracts severely. “The outlook for the global economy […]

By Mark Noble |March 3, 2009

3 min read

B.C. budget targets stability, confidence

British Columbia’s 2009 budget supports infrastructure projects to create jobs and build opportunities in the province while providing stability and confidence for British Columbians by investing in health, education and social services, Finance Minister Colin Hansen announced. “Budget 2009 builds on B.C.’s Economic Plan to help families, communities and business alleviate the effects of the […]

By Brooke Smith |February 18, 2009

2 min read