It's All About Oil
Economists are expecting low prices to continue to have a negative effect on the Canadian economy, corporate profits and unemployment. The result, according to TD Bank: A forecast for subpar growth of just 2 per cent in 2015 and 2016 – unchanged from an earlier forecast – with the unemployment rate rising to 7 per cent by the end of this year and hovering there for some time.
It seems it’s all about oil. This morning, I caught the interview with Donald Coxe on BNN. He talked about the unfolding situation in the Middle East with Saudi Arabia pushing down the price of oil in order to put pressure on Iran as negotiations for a nuclear agreement come against a March 31 deadline.
We are also going to watch what’s going on in Alberta – with Jim Prentiss goes on TV tonight addressing the oil crisis and $7 Billion dollar shortfall in the provincial budget.
Marc Dumais
Investment Advisor
250-405-2958 - Direct
250 405 2900 - Main
250 405 2911 - Fax
877 405 2900 - Toll Free
