Bank of America Merrill Lynch economists say Canada, Australia and New Zealand are heading for ‘an unwinding’…
A ‘painful’ unwinding
"Canada, Australia and New Zealand have all faced commodity shocks that have hampered growth and left the economy highly dependent on housing activity. Despite mounting financial stability risks, central banks in these regions are stuck with low rates to stimulate growth."
Australia, NZ & Canada – 3 scenarios for how the housing boom will play out
