Tuesday Investment Advice on the Radio

US stocks fell at the open today on disappointing revenue numbers and housing data. The Bank of Canada raised its key interest rate by 25 basis points, with caution domestic and global recoveries will be slower than previously expected. The TSX is trading flat but just shifted to the green. When interest rates rise in Canada you would typically expect the Canadian dollar to increase however I think the rate increase is already priced in and the Canadian dollar is trading just below 95 cents.

Scotia Economics came out with their Global Economic Forecast recently and has some key points for investors. The Bank of Canada cut its growth forecast for this year to 3.5% from 3.7%and for next year to 2.9% from 3.1%. They hinted that any further rate hikes may be gradual. Currently the overnight rate is at .75%. For a copy of the Scotia Report give me a call at 250-868-5525 or visit yourlifeyourplan.ca.