‘Uncertainty' overshadowing Ottawa's fall economic statement: economists [BNN Bloomberg (Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: BNN Bloomberg
On Monday, Ottawa released its fall economic statement hours after Chrystia Freeland, the now former finance minister, announced her resignation from Prime Minister Justin Trudeau's cabinet. The Department of Finance's budget update reported a deficit of $61.9 billion for 2023-24, coming in higher than expected, along with various other measures, some aimed at spurring investment in Canada to counter moves toward economic protectionism from the U.S. “Given the political uncertainty facing Canada, the fate of many of the measures announced in the 2024 Fall Economic Statement is highly uncertain,” economists at Royal Bank of Canada said in a report Monday. Some of the highlights of the fiscal update, according to RBC Economics, include the extension for the Accelerated Investment Inventive, which will cost $17.4 billion over six years and had been scheduled to be phased out between 2024 and 2027. “This effort provides enhanced first-year capital cost allowance for most depreciabl
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- RY's page on the SEC website