Canada's Parliamentary Budget Office reporting from Ottowa 23 Jan

  • estimate smaller than govt's of CAD 19.9bln
  • PBO see smaller deficit on lower spending estimate
  • govt's long-term fiscal path is sustainable

The Parliamentary Budget Officer provides independent analysis on the state of the nation's finances, the government's estimates and trends in the Canadian economy; and upon request, estimates the cost of any proposal under Parliament's jurisdiction.

Says the PBO:

  • The downward revision to PBO's estimate of the budget deficit reflects a $2.2 billion decrease in our estimate for spending in 2017-18, somewhat offset by a $0.5 billion increase in our estimate for revenue

Full report here

Meanwhile USDCAD still relatively tightly bound between 1.2460-1.2490 despite all the background noise. NAFTA talks underway until 29 Jan and casting a shadow