_News Talk 770
The chief economist for TD says moderate economic growth and consumer spending is in his forecast for the next year or so. Craig Alexander was speaking to the annual economic outlook put on by Calgary Economic development. Alexander says the global economy is still slow, calling Europe the slowest moving train wreck ever but Canada should not be impacted except for business and consumer confidence. He predicts moderate growth and low interest rates. He says, "If the Bank of Canada raises rates when the feds on hold, it makes the Canadian dollar look more attractive, money comes in, the dollar goes up, it hurts our exports and that causes the economy to weaken". Alexander says businesses are sitting on a lot of cash and if they have the confidence to invest, that would certainly help the economy.