INSTANT VIEW-Justin Trudeau projected to form Canada's next government-CBC News

The prime minister has pulled together one of the most impressive runs of any liberal prime minister in power - three elections in a row is an amazing achievement, especially with this many parties, where it's so volatile and in a pandemic, so they're feeling pretty good about their achievement here." "A win's a win, and time in office and power is when you get to make change." "Justin Trudeau has proved his political resilience with his re-election.


Reuters | Updated: 21-09-2021 08:31 IST | Created: 21-09-2021 08:31 IST
INSTANT VIEW-Justin Trudeau projected to form Canada's next government-CBC News

Canada's ruling Liberal Party led by Prime Minister Justin Trudeau is set to form the next government, CBC News projected on Monday, after a tight election race.

Elections Canada showed the Liberals leading in 152 electoral districts with only a small fraction of votes counted. STORY:

MARKET REACTION: CAD/ LINK: https://enr.elections.ca/National.aspx?lang=e

COMMENTARY ADAM BUTTON, CHIEF CURRENCY ANALYST, FOREXLIVE

"The market isn't surprised by (Justin) Trudeau's electoral win. The polls in the last week or so showed a strong possibility that the Liberals holding on to power. That said, Canadian elections are more of a political event than a market mover in general, and this is no exception. The Canadian dollar is a bit stronger so far today but not significantly stronger." "I would expect to see the Canadian dollar flat to softer if Trudeau gets into majority territory, because it raises new risks… The market is very familiar with what a Liberal minority will look like at this point, but a majority government would raise risks around deficit cutting, (and a) change in tax policy or capital gains may be on the table if Trudeau can get into a relatively solid majority."

JOHN DUFFY, FORMER ADVISER TO FEDERAL AND PROVINCIAL LIBERALS "I think (the Liberals) are feeling vindicated... The prime minister has pulled together one of the most impressive runs of any liberal prime minister in power - three elections in a row is an amazing achievement, especially with this many parties, where it's so volatile and in a pandemic, so they're feeling pretty good about their achievement here."

"A win's a win, and time in office and power is when you get to make change." "Justin Trudeau has proved his political resilience with his re-election. The Liberals were in a very difficult position at the end of August, and there's a lot of campaigns that would have buckled and a lot of leaders who would have buckled under that kind of pressure. Trudeau basically won three debates in a row and turned around the Liberal campaign. He has proven his resilience beyond a shadow of a doubt."

WILL STEWART, NATIONAL LEAD, HILL+KNOWLTON STRATEGIES AND CONSERVATIVE COMMENTATOR "I think it was to be expected. In the last couple weeks public opinion polls certainly turned in this direction. Justin Trudeau called his campaign to get a majority. I don't think he's going to get there, which then takes us right back to where we were sort of six weeks ago. Why did we have this election in the first place as we return to exactly the same, House of Commons we had when we left?"

"(The Conservatives) ran a fantastic campaign. Most pollsters would have said a month before this campaign started that Justin Trudeau was on his way to majority... (Leader Erin O'Toole) ran a great positive campaign filled with new ideas, new approaches to solve some of Canada's difficulties." "Campaign results obviously are not what people wanted - or what Conservatives wanted anyway - but he ran a great campaign."

KARL SCHAMOTTA, CHIEF MARKET STRATEGIST, CAMBRIDGE GLOBAL PAYMENTS "This does look like a decisive win for the Liberals that essentially preserves the status quo and ensures that the fiscal spending plans that have supported the economy for the last year and half are likely to continue and continue to support growth."

"The more supportive fiscal policy is, the more likely the Bank (of Canada) is able to move from tapering to rate hikes in the next year and a half, and certainly that is going to support the Canadian dollar."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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