IMF SELLS MONEY AGAIN
REUTERS said, the International Monetary Fund said on Monday that Canada is coping well with lower oil prices and weaker growth, but needs to pursue a fiscal and monetary policy mix that supports near-term output.
In a statement following its annual policy review with Canada, the IMF cautioned the full macroeconomic and financial effects of the oil shock have yet to fully play out in Canada, which saw real gross domestic product growth halve to 1.2 percent in 2015.
The Fund said its board of directors welcomed Canada's "pro-growth" budget and noted that additional fiscal support should be considered if conditions worsen.
"Growth is expected to rebound in 2016, supported by exchange rate depreciation and accommodative monetary and fiscal policies, but uncertainty about oil prices, challenges in sustaining the global recovery, and elevated domestic vulnerabilities suggest risks to the outlook are tilted to the downside," the IMF said.
It said that a Canada's push for more growth could be focused on infrastructure improvement, but noted that vulnerabilities should be contained in the housing market, where prices are rapidly rising in Vancouver and Toronto, but falling in Alberta.
Canada in the longer run should aim to reduce its debt-to-GDP ratio and pursue structural economic reforms to diversify its future growth drivers.
"Directors noted that Canada's financial sector continues to be sound and stable. They agreed that macroprudential measures have been broadly effective in containing the growth of mortgage credit and suggested that these could be further tightened if imbalances in the housing market threaten to intensify," the IMF said.
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REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.
Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в декабре 2017 года прогнозируется в размере +204,8 млрд руб.
“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”