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The Economy of Canada - Case Study Example

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The paper "The Economy of Canada" highlights that as a form of fiscal policy, the government of Canada had prior to those policies said, announced a reduction in tax levels as well as escalated levels of spending on the country’s infrastructure to stabilise the Canadian economy…
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The Economy of Canada
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Download file to see previous pages The expenditure of the government is long-run focused, aimed at making easy the lives of Canadians and these have been coupled with significant cuts in taxes. As result magnitudes of tax have declined and the component of disposable income is vastly rising among households and savings have increased as a result. The government has catalyzed saving by reducing taxes and providing non-taxable savings accounts. (conservative.ca, 2009)

Fundamentally, the main objective of the monetary policy of Canada is to ensure Canadian citizen’s wellbeing. This is by enhancing economic growth that is sustained, increasing employment levels as well as improved standards of living. From experience, the monetary policy only achieves this goal by way of offering businesses and households’ confidence as far as the value of money is concerned.

In 2008, October 23rd the Bank of Canada released a report on monetary policy. The report contained current financial and economic trends in line with the control of inflation is concerned. According to the report, the three main interrelated world developments are affecting the economy of Canada and resulting in the economic growth outlook more unpredictable. This is due to the world financial crisis resulting in major strains in the markets of financial instruments.

Demand is prospected to continue being weak due to exports. Lower prices of goods and services will also lead to an outlook that is damp since the terms of trade for Canada are set to decline as well as a growth in domestic demand that’s moderate. Generally, the Bank of Canada predicts real GDP growth of 0.6% in the years 2008 and 2009. The 2010s are set to be 3.4%. (bankofcanada.ca, 2008)

In the 2009’s monetary policy report, the Bank of Canada noted that the economic environment continues to highly unpredictable. This is due to the large negative impacts of the recession of the global economy. Emanating from this, the Canadian economy is projected to fall by 3.0% in the year 2009. ...Download file to see next pagesRead More
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