Pierre Cleroux of the Business Development Bank of Canada says the U.S. and Chinese economies are #1 and #2 globally and remain strong.
The BDC’s Chief Economist tells us the price oil has declined by 60 per cent and it’s having an impact on the Canadian dollar.
He says because we export a lot of oil so when the price goes down the value of our dollar goes down and it will stay there for a while before the cost of oil
starts improving again.
Cleroux says the impact from Brexit is being felt across Europe especially in the United Kingdom.
He says people are waiting to see what the next trade deal is between the UK and Europe but he adds Brexit is having a minimal impact in Canada.
