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2024 Canadian Outlook

Dan North | February 2024
Dan North, chief economist at Allianz Trade, is renowned for his accurate economic forecasts, including predicting the 2008/2009 recession. With over two decades of experience at Allianz Trade and a track record of being ranked among the top economic forecasters, North is a trusted authority in the field. His latest report focuses on Canada's economic outlook for 2024, particularly examining the trajectory of interest rates and their impact on the economy.
Interest rates will remain relatively high through the middle of 2024. The Bank of Canada (BoC) drove interest rates up to multi-decade highs in 2022 and 2023, raising the overnight rate a total of 4.75% to 5.0% in the course of a year and a half. By comparison, the previous fastest hiking cycle started in 1997 and rose a mere 2.5% over the same amount of time.

About Dan North

Since 1996, Dan North has been with Allianz Trade, the world’s oldest and largest credit insurance company. As the company’s senior economist for North America, he uses macroeconomic and quantitative analyses to help manage Allianz Trade’ risk portfolio of over $170B in U.S. trade transactions.

As one of the leading U.S. economists, Dan North has appeared on CNBC, Fox Business News, ABC News Now, France 24, and Bloomberg Radio and Television. He has been quoted by USA Today, Barron’s, Bloomberg Business Week, The Washington Post, Paris Le Monde, and The Wall Street Journal. After having predicted the 2008/2009 recession and its implications accurately, Dan North was ranked 4th on Bloomberg’s list of the 65 top economic forecasters in 2010.