07:40 AM EDT, 08/14/2024 (MT Newswires) -- The Canadian province of Ontario posted its Q1 fiscal update late Tuesday, with no change in the C$9.8 billion deficit forecast, and a minor dip in borrowing requirements (cash adjustment) to C$37.5 billion, noted Bank of Montreal (BMO).

It has still been mostly quiet on the fiscal update front, said the bank. The combined FY24/25 provincial deficit is pegged at C$27.8 billion (0.9% of gross domestic product, or GDP), versus C$10.8 billion in FY23/24, with some public accounts pending.

Those that have been released results so far for FY23/24 have been mixed, with Quebec looking worse than expected, while Alberta, Saskatchewan and Nova Scotia have come in better, stated BMO.

The Canadian dollar (CAD or loonie) starts Wednesday steady at $1.371/USD (73 US cents), pointed out the bank.