Hear directly from RBC Global Asset Management Chief Economist, Eric Lascelles in his monthly and quarterly updates. Representing RBC Investment Strategy Committee’s (RISC) economic views, Eric shares timely insights and the expectations of RBC GAM on the global economy.


Monthly Economic Outlook Webcast

Monthly Economic Outlook Webcast

Market jitters return - November 2018

Eric Lascelles, Chief Economist, RBC Global Asset Management, shares the latest views on the global economy and offers insight into today’s economic issues.

The webcast includes an audio and slide presentation.

Launch Presentation
Disclaimer


Key Highlights

  • Stock markets around the world declined sharply in October, driven by growing concerns over higher interest rates and slowing global growth.

  • Global growth, while slowing, remains better than the post-crisis norm, though the IMF recently cut its global growth forecast.

  • In the U.S., third-quarter GDP was strong and U.S. consumer and business sentiment remains healthy

  • A new U.S.-Mexico-Canada trade deal (USMCA) was struck to replace NAFTA, which bodes well for U.S. trade negotiations with other countries.

  • The Chinese government, faced with slowing growth, injected a fair bit of stimulus into its economy – the world's second largest – by cutting interest rates and lowering taxes for individuals and corporations.

  • The U.S.-China trade dispute continues, presenting a possible drag on growth into the foreseeable future.

  • The Bank of Canada hiked interest rates during the month and the U.S. Federal Reserve now seems likely to hike rates in December 2018. The European Central Bank (ECB) is set to end its massive bond-buying program in December 2018.

  • The looming U.S. mid-term election could result in some political paralysis in the United States over the next few years.

  • Recreational cannabis was legalized in Canada, although it remains unclear if this development will be economically consequential, even though some individual companies may benefit.

 

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Economic Compass

Eric Lascelles

Chief Economist
RBC Global Asset Management Inc.

View Biography >