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Updated Publications
Global Quarterly Economic Forecast
Global growth has stood up to trade turmoil better than many feared earlier this year. Even with momentum expected to slow in 2026, it will be to a lesser extent than we expected three months ago. In contrast, the U.S. economy is forecast to gain a step as Fed rate cuts, the OBBBA and regulatory changes provide a tailwind. Canada is also an economy of contrasts. Government initiatives to boost investment are likely to meet some resistance with 2026’s CUSMA review. The Bank of Canada has done its
December 11, 2025
Latest Research
The Days Of Our Lives
Yes, the title of this presentation comes from a famous soap opera. It’s appropriate to depict the past year, full of economic and political drama. We’re on the cusp of closing out 2025, a dramatic 365 days marked by the shifting sands in government policies and corporate behaviors. And this final quarter of the year has brought forward more pivots on both sides of the border that will keep us glued to the next episode. My only hope is that the economic drama doesn’t run sixty-three seasons like
December 04, 2025
Updated Publications
Commodities Quick-Take
Idiosyncratic factors are driving divergences in energy commodities. Oversupplied crude oil markets are weighing on the price outlook, while robust LNG demand has been bidding up natural gas. Base metals prices have been pressured higher following sharp tariff-induced selloffs earlier this year. Still-sluggish global demand will likely be offset by ongoing supply concerns, keeping metals prices on the firm side in 2026.
November 27, 2025
Updated Publications
Questions? We've Got Answers: Addressing Issues Impacting the Economic and Financial Outlook
It's hard to write anything these days without addressing the impact of tariffs, but this quarter bubbled up many other issues for our Q&A. The effects of the U.S. government shutdown, signals from the labor market and the Fed's next interest rate move are also examined. For Canada, policy shifts are in the spotlight, with the federal budget, immigration and the Bank of Canada's move to the sidelines all addressed.
November 25, 2025
Latest Research
Global Trade Disrupted: Early Impacts of U.S. Tariffs
The dramatic increase in U.S. tariffs in 2025 has led to volatility in the trade data that makes it difficult to analyze trends. Despite these distortions, there is early evidence that underlying growth in U.S. imports has slowed.
November 05, 2025
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Updated Publications
Updated Publications
Global Quarterly Economic Forecast
December 11, 2025
Updated Publications
Commodities Quick-Take
November 27, 2025
Updated Publications
Questions? We've Got Answers: Addressing Issues Impacting the Economic and Financial Outlook
November 25, 2025
Updated Publications
G-7 Inflation Update: Energy Prices Erode Spending Power
May 20, 2022
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Next
Updated Publications
Global Quarterly Economic Forecast
December 11, 2025
Updated Publications
Commodities Quick-Take
November 27, 2025
Updated Publications
Questions? We've Got Answers: Addressing Issues Impacting the Economic and Financial Outlook
November 25, 2025
Updated Publications
G-7 Inflation Update: Energy Prices Erode Spending Power
May 20, 2022
View more updated publications
Latest Research
Latest Research
The Days Of Our Lives
December 04, 2025
Latest Research
Global Trade Disrupted: Early Impacts of U.S. Tariffs
November 05, 2025
Latest Research
Canadians Need to Think Strategically on Electric Vehicles and China
September 08, 2025
Latest Research
Tails We Win, Heads You Lose
September 02, 2025
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Next
Latest Research
The Days Of Our Lives
December 04, 2025
Latest Research
Global Trade Disrupted: Early Impacts of U.S. Tariffs
November 05, 2025
Latest Research
Canadians Need to Think Strategically on Electric Vehicles and China
September 08, 2025
Latest Research
Tails We Win, Heads You Lose
September 02, 2025
View more latest research
Commentaries
Commentaries
U.S. Cuts Its First Trade Deal With UK – More Symbolic than Economic
May 08, 2025
Commentaries
Update on U.S. Steel and Aluminum Tariffs
February 12, 2025
Commentaries
China Stimulus Announcements (September 2024)
September 26, 2024
Commentaries
OPEC+ Extends Cuts and Plans for Production Increases
June 03, 2024
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Commentaries
U.S. Cuts Its First Trade Deal With UK – More Symbolic than Economic
May 08, 2025
Commentaries
Update on U.S. Steel and Aluminum Tariffs
February 12, 2025
Commentaries
China Stimulus Announcements (September 2024)
September 26, 2024
Commentaries
OPEC+ Extends Cuts and Plans for Production Increases
June 03, 2024
View more commentaries
