Interest rates, housing, oil & gas, discussed at latest Chamber luncheon
‘Navigating through uncertainty’ was the theme behind a Red Deer Chamber of Commerce luncheon on Thursday.
Servus Credit Union’s vice president of treasury, Rajat Varma shared his outlook on interest rates, housing and the oil and gas industry for 2019.
With issues surrounding China, North Korea, Russia, Venezuela and Brexit causing uncertainty around the world, Varma feels Alberta will cope better than most provinces, as we’ve been through them before.
“I think there’s a lot of resilience in the province here and we just need to find that a little bit quicker than we have in the past,” explained Varma. ”2019 is going to be a weak year for Alberta, a lot of pipeline and capacity issues weighing on us and the Enbridge Line 3 was a big blow. The production cuts have helped somewhat but it’s going to take more than that, we’re going to have to solve our pipeline capacity issues long-term to really see a turn-around there.”