Found 9 blog entries tagged as 2020.

Happiness is banking with ATB.

The Top Economic Stories of 2020 Part 5 of 5

   

After a sluggish 2019, it was hoped that Alberta’s economy would pick up steam in 2020.

Then COVID happened.

The negative economic effects of the pandemic were initially underestimated. COVID-19 was seen by many as a short-term disruption that would be over almost as soon as it began. If only.

Once it was clear the pandemic would be with us for some time, the negative economic effects were overestimated with talk of another Great Depression making headlines.

The economic…

117 Views, 0 Comments

Read Full Post

Happiness is banking with ATB.

The Top Economic Stories of 2020 Part 4 of 5


Notwithstanding the many American citizens who live in Canada, most of us cannot vote in U.S. elections. And yet, we pay attention to them as much or more than we do our own—at least when the presidency is on the line. The U.S. is, after all, our neighbour, largest trading partner, military ally, main source of tourists and the winter landing spot for many snowbirds from Canada. 

The recent race between President Trump and former Vice President Biden for what is arguably the most powerful elected position in the world was particularly gripping.

What does…

107 Views, 0 Comments

Read Full Post

Happiness is banking with ATB.

The Top Economic Stories of 2020 Part 3 of 5


China has become, and will continue to be, a source of important economic news. From a trade war with the United States to its rapid economic recovery in the face of COVID to the signing of the The Regional Comprehensive Economic Partnership (RCEP), China continues to make large economic waves with ripple effects felt around the world, including Alberta.

Some of us on The Owl team are long enough in the tooth to remember when the big economic player and newsmaker in Asia was Japan. China was barely on the radar.

Fast forward to today, and even though…

101 Views, 0 Comments

Read Full Post

The Top Economic Stories of 2020 Part 2 of 5

Happiness is banking with ATB.

ATB Economics

Second only to the pandemic in terms of its negative impact on the Alberta economy in 2020 is the oil price war between Saudi Arabia and Russia.

Back in January 2020 before COVID was a household word, the U.S. Energy Information Administration’s (EIA) forecast for the average price of a barrel of West Texas Intermediate (WTI) crude in 2020 was $US59. As of December 8, the EIA expects the 2020 average to come in just under $39. The price averaged $57 in 2019.

The demand destruction brought on by the pandemic is the main reason for the difference, but bad…

98 Views, 0 Comments

Read Full Post

The Top Economic Stories Of 2020 Part 1 of 5

Happiness is banking with ATB.

ATB Economics 

It’s that time of the year when we take a look back—from an Alberta perspective—at the top economic stories that took place over the previous 12 months. Each Owl this week will examine one story.

The full list, along with other observations about the year that was, are discussed in the latest edition of ATB’s The Future Of podcast hosted by our Chief Economist Todd Hirsch. The year-end edition can be found here and features commentary from energy guru Jackie Forrest.

--

First up is the ongoing saga known as Brexit. Brexit (a combination…

96 Views, 0 Comments

Read Full Post

Labour Day in Canada

Labour Day is a statutory national holiday celebrated throughout Canada on the first Monday in September. The September date has remained unchanged, even though the government has been encouraged to adopt May 1st as Labour Day, the date celebrated by the majority of the rest of the world. Moving the holiday, in addition to breaking with tradition, could have been viewed as aligning the Canadian labour movements with internationalist sympathies. Another major reason for keeping the current September date is that the United States celebrates its Labor Day on the same day. History of Canadian Labour Day The origins of Labour Day in Canada can be traced back to a printer's revolt in…

180 Views, 0 Comments

Read Full Post

 

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test.

The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2 per cent.

Recently, the gap between the Bank of Canada’s five-year benchmark rate and borrowers’ actual contract rates has been widening, suggesting the benchmark rate has become less responsive to changes in the market.

In October 2016, Finance Canada introduced a stress test for insured mortgages. In 2017, the Office of the Superintendent of Financial Institutions (OSFI) issued…

2892 Views, 0 Comments

Read Full Post

What is it?

International Women's Day (March 8) is a global day celebrating the social, economic, cultural and political achievements of women. We have some of the most dynamic and entrepreneurial women in our offices and we want to showcase our support for gender equality. Read More about the history and values of International women's day

What is the #EachForEqual pose?

Get a group together with arms out front at right angle to the body, elbows bent and palms down to make an equal sign to show that you are committing to being "each for equal" and that you will challenge the status quo and help forge women's equality. One or more of the group holds the Selfie Cards. Someone takes a picture. Post on social media using #IWD2020 #EachforEqual…

3393 Views, 0 Comments

Read Full Post