Vaccinations: State of Play
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The conventional view on the global economy generally, and Canada specifically, is that activity will struggle notably in the opening months of the year before giving way to a robust recovery beginning around the spring. But this relatively upbeat outlook rests importantly on the assumption that portions of the economy will re-open again, which in turn relies heavily on a relatively expeditious rollout of vaccines. Against that background, clearly the pace of vaccine distribution is a critical element for the outlook, and arguably should be the number one priority for policymakers.
It has now been three weeks since the first people were vaccinated in both the U.S. and Canada. Yes, it is early days, but there is little doubt that time is absolutely of the essence and thus it’s never too early to make some assessments on such a critical file—critical not only from a health care standpoint, but also for the livelihood of millions of Canadians.
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Douglas Porter
Chief Economist and Managing Director
416-359-4887
Douglas Porter has over 30 years of experience analyzing global economies and financial markets. As Chief Economist at BMO Financial Group and author of the popular…(..)
View Full Profile >The conventional view on the global economy generally, and Canada specifically, is that activity will struggle notably in the opening months of the year before giving way to a robust recovery beginning around the spring. But this relatively upbeat outlook rests importantly on the assumption that portions of the economy will re-open again, which in turn relies heavily on a relatively expeditious rollout of vaccines. Against that background, clearly the pace of vaccine distribution is a critical element for the outlook, and arguably should be the number one priority for policymakers.
It has now been three weeks since the first people were vaccinated in both the U.S. and Canada. Yes, it is early days, but there is little doubt that time is absolutely of the essence and thus it’s never too early to make some assessments on such a critical file—critical not only from a health care standpoint, but also for the livelihood of millions of Canadians.
View important Disclosure Statements here.
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