According to CIBC World Markets Canada is unlikely to fall victim to a recession as many other nations are likely to around the globe. They suggest that, while the economy will slow in 2012 the continued low interest rate environment will do much to buoy the economy and keep it from sinking into recessionary territory.
"As an open economy, Canada can't help but feel the disappointment of a barely half-speed world," says Avery Shenfield, chief economist at CIBC. They expect job levels in Canada will remain roughly the same throughout 2012, which makes the economy that much more dependent on low interest rates and the consumer spending that will be encouraged to help move the economy along. This suggests too, that interest rates will stay at these low levels for many months to come.