Seasons Greetings from the Bank of Canada

Recent weeks have offered a large amount of economic news to digest from the Bank of Canada and more. Here are a few recent economic events:

  • A disappointing surprise in Canada’s low monthly employment figures yet overall holding at 3.6% annual rate
  • A hold in the Central bank rate at a remarkably low 1.75%
  • Outlook for slow and steady growth prospects for 2020 at 2% GDP
  • Inflation that appears to be under control in Canada (2.6%) and the U.S. (2.9%)
  • Pending approval of USMCA (NAFTA 2.0)

Lets be frank. If any economist proposed these figures five to ten years ago, they would be outliers. The overall economic picture that Bank of Canada (BoC) Governor Poloz describes in the recent report from our Partners at National Bank Financial Economics is optimistic and balanced. Poloz believes the economy remains resilient despite the recent unemployment monthly spike, stating “we (BoC) felt the employment situation in the country remained favourable, with participation rates and wages showing upward momentum.”


Tax Loss Selling Strategies

Don’t forget to review your investment portfolio as we near the end of the year with your Hampton Securities Investment Advisor. Financial markets have been strong and many indices have reached record highs. Each portfolio has its own target, risk and return objectives. Matching capital gains and losses can be very beneficial from a tax perspective. December 27th, 2019 is the last day to successfully sell for tax loss purposes.