Economics
Trudeau Says Canada Can Safely Navigate Brexit Turbulence
- Economists expect Bank of Canada to delay rate increases
- Canadian 10-year bond yield falls 10 bps, loonie down 1.4%
Brexit: The Modern Era's Biggest Foreign Policy Mistake?
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Prime Minister Justin Trudeau says Canada can weather market turmoil after the U.K. voted to leave the European Union, while economists forecast the Bank of Canada is likely to continue to hold interest rates steady for longer.
Trudeau said in a statement Canada is well-positioned to endure economic uncertainty and pledged to “continue to build relations with both” the U.K. and EU. Bank of Canada Governor Stephen Poloz, Finance Minister Bill Morneau and fellow Group of Seven ministers and central bankers expressed confidence in the U.K. financial sector.