Mideast Conflict to Hobble But Not Derail Canadian Economy -- Market Talk

Dow Jones03-25

1440 ET - The war in Iran will hobble but not derail the Canadian economy, says Oxford Economics' head of Canada research, Tony Stillo. Stillo forecasts that headline inflation to jump from its sub-2% level to around 3.5% in 2Q, fueled by higher oil prices. Stillo, however, says the increase in core prices -- which strips out food and energy -- will likely be limited because of excess capacity sloshing around in the economy. "We expect the Bank of Canada to look through the energy price shock, provided it remains temporary," Stillo says. Oxford also doesn't expect much of hit to consumer spending, as it anticipates households to dip into savings. Lower-income households are also set to receive a federal rebate to help cope with higher food prices. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

March 24, 2026 14:40 ET (18:40 GMT)

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Stillo, however, says the increase in core prices -- which strips out food and energy -- will likely be limited because of excess capacity sloshing around in the economy. \"We expect the Bank of Canada to look through the energy price shock, provided it remains temporary,\" Stillo says. Oxford also doesn't expect much of hit to consumer spending, as it anticipates households to dip into savings. Lower-income households are also set to receive a federal rebate to help cope with higher food prices. 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