The new Liberal minority government

And what it means for the economy, especially energy, banks, and the environment

Ruth Saldanha 22 October, 2019 | 9:22AM

 Trudeau Wins Election

Prime Minister Justin Trudeau gets to keep his job, with the Liberal party winning 157 seats. Short of a majority, but enough to form a minority government, which is likely to be stable enough with the help of smaller parties – most likely the New Democratic Party, which won 24 seats, or the Bloc Quebecois, which won 32 seats.

“A Canadian House divided against itself can indeed stand, as a typical minority government runs about two years before it either loses support in the legislature or opts to go back to the voters for a mandate,” pointed out CIBC Capital markets’ chief economist Avery Shenfeld in a note. He expects that the results very slightly reduce the need for interest rate cuts by the Bank of Canada.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Canadian Imperial Bank of Commerce78.08 CAD-4.78
Cenovus Energy Inc2.72 CAD-4.23
Enbridge Inc27.21 USD-6.46

About Author

Ruth Saldanha

Ruth Saldanha  Ruth Saldanha is Senior Editor at Morningstar.ca