The telecommunications services sector should weather the storm of economic uncertainty facing Canada right now, though some negative effects are likely, Canaccord Genuity telecom analyst Dvai Ghose. Following the Bank of Canada's interest rate cut Wednesday and its downward revision to its economic forecast for the year, Canaccord Genuity analyst Dvai Ghose said in a research note that most of the revenue generated by telephone and cable companies has "historically been quite resilient to economic pressures" because "these services are considered increasingly essential by consumers." He added that any unemployment that might arise from economic problems could affect the telecoms if it accelerates cord-cutting and cord-shaving, as well as wireless substitution for landline phones. He cited Shaw Communications Inc. as being vulnerable due to its exposure to the TV industry and BCE Inc. for its concentration in conventional phone service. Ghose also said a lower Canadian dollar, which often results from lower interest rates, is bad for telecom service providers because they buy much of their equipment from outside the country in U.S. dollars.