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Alberta Oil Cuts Will Slow Canadian Growth Next Year, Banks Say

From bloombergquint.com

Alberta’s decision to order oil production cuts will weigh on Canada’s economy next year, according to some of the country’s biggest lenders. Bank of Montreal economists Benjamin Reitzes and Robert Kavcic predicted in a research note Monday that gross domestic product could expand by 1.8 percent next year, instead of the 2 percent forecast previously, if there are extended shutdowns in the oil sector. Canadian Imperial Bank of Commerce economist Royce Mendes also said the growth rate could be pared by 0.1 percentage points in 2019, adding he may change his prediction for a Bank of Canada interest-rate increase for ... (full story)

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  • Category: Fundamental Analysis