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How does one navigate the current Canada-U.S. political climate, where real intentions are hard to discern from negotiating strategies?

Your clients are feeling uncertain about how the recent U.S. presidential election will affect the economy and their finances?

In February, the policy uncertainty around the new U.S. administration resulted in divergent performance between bond and stock markets, emphasizing the importance of diversification within a multi-asset portfolio.

On March 12, the Bank of Canada decided to reduce the policy rate from 3.0% to 2.75%.

The announcement by the U.S. government of tariffs on Canadian exports has caused concern on both sides of the border.

Few policy decisions have the far-reaching consequences of trade policy.

President Trump’s return to the White House resulted in increased market fluctuations. In January, a combination of Trump’s expansionarypolicies and lower-than-expected U.S. inflation data in December sent mixed signals to the bond markets. Despite these challenges, the bond markets still achieved mostly positive results.

Donald Trump’s return to the U.S. presidency has reignited concerns about protectionism and its implications for global trade.

January 29, 2025 - Governing Council decided to reduce the policy rate from 3.25% to 3.00%.

In 2024, central banks in developed markets initiated the process of normalizing their
monetary policy. However, expectations of rate cuts were revised downwards in the final
quarter of the year, due to the resilient economic growth and persistent inflation.

With Donald Trump returning to the White House, China navigating internal and external headwinds, Europe striving to balance reform and fiscal sustainability, and central banks rethinking their policy frameworks, the stakes are high.