This week, Canadians handed Justin Trudeau’s Liberal Party another minority mandate in a House of Commons that looked almost identical to the one that was dissolved last month and will leave the prime minister with the option of leaning on the Bloc or NDP to push through his agenda items. There will be plenty of questions in the coming days about whether the $610-million tab for the election was worth it, not to mention the resolve of Canadians who faced hours in line at some polling stations.
As for Canada’s place on the world stage, bear in mind that the Organization for Economic Cooperation and Development Tuesday shaved almost a full percentage point off this country’s Gross Domestic Product outlook for this year.
In terms of market reaction, the most immediate takeaway appears to be relief, as the Canadian dollar climbed in overnight trading.
The Liberals campaigned on dozens of measures that are designed to improve housing affordability in this country, including new and enhanced supports for buyers; a crackdown on blind bidding, flipping and foreign buyers; and tighter rules for real estate investment trusts.
