Loonie to face deeper correction in second half of 2023: Strategist
Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg for his view on the stock market, economy and currencies. Schamotta says the BoC could hike rates by 25 basis points later this month and he expects it to be its last hike before a pause. When it comes to currencies, he's optimistic the loonie will see upside in Q1 amid a weaker USD. However, once Canada's economic slowdown accelerates, he expects the CAD to suffer a deeper correction. When it comes to the inflation picture, he says it is softening, but China reopening could put some pressure on it.