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US Growth More Important than Oil to Canada's Outlook
While the most recent decline in oil prices raises uncertainty about whether the worst is over for the Canadian economy, Standard & Poor's analyst Joydeep Mukherji told MNI that more important to Canada's outlook is the U.S. economy, which he expects to maintain a "steady growth. " He added that the upcoming federal election on October 19 won't change the country's overall credit profile given that all three main parties have signaled responsible budgets. So overall, whether the federal budget ends up showing a slight deficit or a surplus, Canada's stable outlook and AAA rating are not at risk. "The fiscal ... (full story)