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  • North American Outlook

    March 16, 2021 | 12:13

    From Herd To Immunity

    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    profile photo of Sal Guatieri

    Sal Guatieri

    Senior Economist and Director
    Economics

    Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with over two decades experience as a ma... (Read more)

    More
    Key Summary

    Pandemic pain will turn to relief for the economy as the vaccine rollout gains pace and broader immunity is achieved this summer. We have made big upward revisions to our 2021 growth outlook for both Canada and the U.S.


    Canada’s economy and currency will get an extra push from higher commodity prices, though the initial slow vaccine distribution puts it at risk of a third wave due to variants.


    Even as the economy revs faster, central banks will keep a foot on the gas until the labour market is well on the road to recovery. That should take some steam out of the rapid rise in sovereign yields.

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