{"id":485699,"date":"2010-03-29T10:54:00","date_gmt":"2010-03-29T14:54:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:415380"},"modified":"2010-03-29T10:54:00","modified_gmt":"2010-03-29T14:54:00","slug":"moodys-boosts-canadas-gdp-forecast","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/485699","title":{"rendered":"Moody&#8217;s boosts Canada&#8217;s GDP forecast"},"content":{"rendered":"<p>An improving Canadian job market will limit the impact of expected rate hikes and result in stronger economic growth than originally expected, says Moody&#39;s Investor Services.<\/p>\n<p>Jimmy Jean of Moody&#39;s Economy.com said Canada&#39;s GDP will increase 3.2% in 2010, up from his previous forecast of 2.7%. In 2011, he expects growth of 3.7%.<\/p>\n<p>The unemployment rate, meanwhile, will end the year at 7.9%, down from the<br \/>\npeak of 8.7% reached in August 2009, he said. <\/p>\n<p>&quot;The job market recovery will be instrumental in raising incomes and<br \/>\nalleviating the impact of higher interest rates on household debt<br \/>\nburdens,&quot; Mr. Jean said in a note to clients.&nbsp;<\/p>\n<p>&quot;We believe the timing of the job recovery will be right,<br \/>\nforestalling a shock to household credit quality. Based on our<br \/>\nforecast, we do not expect the rate shock to derail the recovery.&quot;<\/p>\n<p>Mr. Jean believes the Bank of Canada will start raising rates as early as April or June, beginning with a 50 basis point hike. <\/p>\n<p>&quot;Given the self-sustaining path the Canadian economy appears to be<br \/>\ntaking, the case for leaving rates this low much longer is weakening<br \/>\nalmost by the day,&quot; he wrote.<\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a>&nbsp; &nbsp;  <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=415380\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An improving Canadian job market will limit the impact of expected rate hikes and result in stronger economic growth than originally expected, says Moody&#39;s Investor Services. Jimmy Jean of Moody&#39;s Economy.com said Canada&#39;s GDP will increase 3.2% in 2010, up from his previous forecast of 2.7%. In 2011, he expects growth of 3.7%. The unemployment [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-485699","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/485699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=485699"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/485699\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=485699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=485699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=485699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}