The outlook for Canada’s economy for 2015 has been cut to just 1 per cent by the IMF, down from its previous 1.5 per cent forecast in July. For 2016 it forecasts 1.7 per cent, down from its previous 2.1 per cent outlook. Oil prices and lower energy sector investment are the main reasons. The organisation also cut its global outlook to 3.1 per cent although the US forecast was increased to 2.6 per cent.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: