On 23rd June, UK wrote another page in the book of World Economy by leaving the European Union. Of course, the discussion will take years, but the effects of getting a ‘Yes’ will be seen for a while. One such country which will observe an impact is Canada. Canada does not have a direct threat, or even if happens it is going to be minimal.While the UK will struggle with new trading agreements with Europe, Canada will be rephrasing its economy along with other countries. If their European equity was more, then they must have seen a bigger hit because the dive of Euros and Pound took Canadian Dollar with them as well. It wasn’t as hard as it was for UK and EU. But yes, it will make slight changes for itself.
Canadians did fear about the crisis of 2008 but fear not Canada! You are still on a safe side. This will make you more cautious and give you a sharp eye for opportunity seeking. You will be careful while investing. If you have an interest in real estate market, the rate of interest will remain low, which is good news for the new clients.
For a while, Canadian Economy will see a dip but eventually will get back to normal. Experts say the market will be overreacting for a while, but then things will fall in place, and they will be back on track.
Brexit is a concern but not directly for Canada, and it is going to survive. It is not End of the World.