Forecast for 2011 Growth
TD cuts forecast for Canada's 2011 growth
Canada's economy is likely to grow 2% next year, and the slower rate of growth may be the "new norma" as the aging population and poor productivity drag on the economy, TD Bank Financial Group said in a report.
The bank has reduced its 2011 forecast by half a percentage point since June, citing factors such as the cooling housing market, sluggish U.S growth, the waning of fiscal stimulus and the 'increasingly fatigued" Canadian consumer.
Given the subdued outlook for growth, interest rates are unlikely to rise above 2% by 2011, it said.
Source of this information Toronto Sun September 16th 2010.
What good news that TD do not forecast interest rates to rise above 2%. Excellent time to buy that property you have dreamed about. It appears that lots of people have been detered from buying a property since the implementation of HST this does not affect the purchase of a property except if it is new and over $400k at which time it is payable, but there are government refunds to assist this payment. If you have any doubts or questions about HST please contact me and hopefully I can erase any doubts you may have about making that purchase.