With Parliament now suspended until late January, economists say the Bank of Canada will have to do the heavy lifting, to try to keep the country out of an official recession.
Thus, a major cut is expected next Tuesday, in the central bank’s benchmark interest rate of 2.25 per cent.
And, economists say that will likely be the only main shot in the arm, the slumping Canadian economy will get, until the federal budget is tabled January 27th.
Most of the major economic stakeholders in the country, the notable exception being organized labor, appear to agree the suspension of parliament is in the best interests of the country.
Howerver, that will only be the case if the three opposition parties, reverse their position and join the government in an attempt to draft an ecnomoic plan to address the ecnomic crisis.
To date there has been on indication any of the opposition parities is ready to do that and the government house leader doesn’t sound optimistic about the chance they’ll reverse their position…
Jay Hill’s remarks are part of a interview scheduled for presentation on Monday morning’s Issues and Answers program but, you can also hear the full interview, with the Prince George Peace River MP, on line, at energeticcity.ca.
Meantime, the protests in favor of both the government and the coalition continue across the country but given the suspension of parliament yesterday, we’ve no been informed that the one planned for Fort St. John tomorrow has been postponed until the New Year