Early March has brought a very bearish tone to the commodity and equity markets due to concerns regarding the coronavirus. As a result, both the Bank of Canada and the U.S. Federal Reserve aggressively cut their key rates 50 basis-points. The possibility of both countries making even stronger cuts in the coming months is likely to keep economic growth alive. Just 18 months ago, Canadian economists saw a climate of higher rates ahead, but the black swan event of coronavirus on top of a weakening economy has thrown a wrench in any possibility of rate increases. With banks following the…
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