A date hasn’t been announced for Carney’s first budget but it could be as soon as this month and will certainly be in the autumn. There are rumors of 15% across-the-board cuts in department budgets.
Will not cut transfers to provinces for education and not for individualsGovernment spending at the moment is not sustainableSpoke with Trump on Monday in lengthy conversation, described it as ‘good’
This sounds like good news for the bond market but not great for growth. USD/CAD is up 9 pips to 1.3789 today.
This article was written by Adam Button at investinglive.com.