In a world where deleveraging holds back demand in our traditional foreign markets, the imperative is for Canadian companies to invest in improving their productivity and to access fast-growing emerging markets. This would be good for Canadian companies and good for Canada. Indeed, it is the only sustainable option available.
Following recent communications signaling patience in determining potential adjustments to its monetary policy stance while maintaining the target range for the federal funds rate, the Federal Reserve has, in its latest monetary policy meeting, substantially revised downwards its projections for this variable over this and the next couple of years.