The anticipation of a slowdown in aggressive interest rate hikes, alongside a possible plateau in inflation, has some experts calling for an equity rebound in the TSX Composite Index by the second half of next year.
“One of the most remarkable developments during 2022 was Canada’s outperformance versus the U.S. and other developed markets. We think this outperformance is poised to continue next year,” Kurt Reiman, a senior strategist for North America at BlackRock, said in a phone interview on Dec. 14.
“While we don’t think the BoC is likely to increase interest rates next year, we also don’t see a scenario where they cut rates either,” Reiman noted.“We think the TSX will enter a bull market in 2023,” Brian Madden, the chief investment officer at First Avenue Investment Counsel, said in a phone interview on Wednesday Dec 14.
While these market experts are optimistic for 2023, headwinds still remain ahead of the Canadian equity market, a report by Mackenzie Investments released on Dec. 15 detailed.
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