By Fergal Smith TORONTO (Reuters) - Canada's commodity-linked main stock index is expected to rise less than previously expected over coming months and ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSTORONTO - Canada's commodity-linked main stock index is expected to rise less than previously expected over coming months and could see a correction as investors grapple with a slowdown in China and higher borrowing costs, a Reuters poll found.
"Our baseline economic forecast incorporates a significant slowdown of the global economy and a recession in Canada at the turn of the year," said Lorenzo Tessier Moreau, a senior economist at Desjardins. Toronto's market has advanced 2.1% since the start of the year, which is well below a gain of 14.6% for the S&P 500.
"However, the improvement in inflation, a resilient labour market, and expectations for an end to the BoC's rate-hiking cycle have moved us away from any worst-case scenarios."
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