Top bank economists expect 2021 recovery if Canada quells COVID-19, vaccinates more

January 13, 2021

Chief economists from Canada’s big banks expect the economy to rebound this year, but say failing to control COVID-19 or get vaccines into arms could upend that recovery.

Speaking at an annual breakfast hosted virtually by the Economic Club of Canada on Thursday, economists expressed cautious optimism about the months ahead.

“We believe that virtually every economy will see a substantial improvement over the next year,” said Doug Porter, chief economist at BMO Financial Group.

His bank is expecting the global economy to post a 5.5 per cent rebound this year, followed by a four per cent growth rate next year.

But letting COVID-19 remain unruly can threaten all that, he said.

Source: Vancouver is Awesome