TORONTO, July 12, 2019 /CNW/ - Scotiabank Economics today published its Q3 Global Economic Outlookreport. This comprehensive report shows the ongoing and increasing negative impact of the protracted trade war on economic activity in the US and across the globe.
"Following two years of fiscally-induced sugar highs, the US economy is slowing rapidly as that stimulus wanes and Trump's trade policies, threats, and bluffs begin to weigh on US economic activity," said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. "Markets are now convinced that the Federal Reserve will cut rates to offset some of these shocks, boost inflation, and insure against possible future damages caused by the President's interventions.
"We believe the Bank of Canada is unlikely to follow the Fed as it cuts rates," he continued. "Canada is a Northern Star and we expect Canadian growth to outpace that of the US for the remainder of the year."
Highlights of Scotiabank's Global Outlook include:
Read Scotiabank's Global Outlook online here.
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