Canada Ratings Downgraded to AA+ from AAA by Fitch

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  • #23977
    Helmholtz Watson

    Fitch Ratings has downgraded Canada’s Long-Term Foreign Currency…



    Bank of Canada Q2 business outlook survey

    Q2 business outlook future sales -35.0 vs +22.0 prior
    Overall business outlook survey -7.0 vs -0.7 prior (revised to -0.5)

    Survey interviews from mid-May to early June

    BOC says survey suggests sentiment is strongly negative in all regions and sectors because of the pandemic and drop in oil prices
    Businesses expect weakness in domestic and foreign demand to continue
    Businesses in most regions and sectors intend to significantly cut their investment spending
    Half of exporters expect sales abroad to decrease over next 12 months
    Credit conditions have tightened significantly but gov’t measures a helpful offset

    BOC survey of consumer expectations
    BOC says1-year inflation expectations increased slightly to 2.8% vs 2.5% prior and may reflect a rise in food prices.

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