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  • North American Outlook

    February 02, 2021 | 12:12

    Don't Look Back

    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

    The best thing about the past year is that it's over, and the year ahead could be one of the best since the start of the century. More fiscal juice should lift the economy over the second-wave hump and the vaccine rollout will speed up the recovery, though labour markets will take longer to heal.


    The U.S. and Canadian economies are both expected to rebound 5.0% in 2021 if the pandemic can be brought under control by the summer.


    After entering crisis mode last year, the Fed and Bank of Canada will have a much quieter year, nursing policy rates near zero and allaying upward pressure on longer-term rates.


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