Canada: 2018 growth forecasts downgraded - NBF

Analysts at NBF suggest that a weaker-than-expected start to the year prompts them to downgrade their 2018 forecast for Canadian GDP growth by three ticks to 2.2%.

Key Quotes

“It assumes growth picks up in the second and third quarters as temporary factors which hurt Q1, turn into tailwinds. We have also pushed to July the timing of an expected interest rate hike from the Bank of Canada amidst a persistently dovish tone from a central bank that continues to fret about economic uncertainties while shrugging off a higher-than-target inflation rate.”