Posthaste: Don't expect Bank of Canada rate cuts to amp up the economy, RBC says [Financial Post (Toronto, Ontario, Canada)]
Royal Bank Of Canada (RY)
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Source: Financial Post
It seems Canada's largest bank isn't expecting a whole lot of upside in the short-term from what appears to be the start of a campaign by the Bank of Canada to bring interest rates down. Interest rate cuts won't provide an immediate boost to Canada's lagging economy or the debt payment relief some households are seeking, a new analysis from Royal Bank of Canada suggests. Article content Despite signs around the world that economies are starting to rally, including in the euro area and the United Kingdom, Canada's economy has continued to struggle on a GDP-per-capita basis with the metric running three per cent below levels seen in 2019. Craig Wright, senior vice-president and chief economist at Royal Bank of Canada, notes that is a 10 per cent swing relative to the U.S., where per capita GDP is up seven per cent in that timeframe. “The global economic growth backdrop has shown signs of improvement, but Canada's economy continues to underperform,” Wright said in a report publi
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