Canada's credit rating today was confirmed with the highest rank of AAA. Rating agency Fitch confirmed this with commentary that the economic outlook remains stable. Canada is one of the few countries that have an AAA rating from the three major agencies. Fitch did not comment on any decline, given the improvement in fiscal conditions and a deficit-to-GDP ratio of only 0.4% this year.
There are also elections in October, but Fitch does not see any risks around them, because the main leading parties are in the preliminary analyzes. Fitch, in their analysis, says Canada's economic performance is "solid," even at 1.3% GDP growth this year, which has been depressed by the property market and foreign counter-winds.
Overall, government debt is expected to remain at 89.2% of GDP by the end of the year, but Fitch expects it to decline gradually. Today's news has boosted the Canadian dollar, despite the oil drop of nearly 1.5 percent.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.