Strong month raises expectations for an October rate hike
But growth may have slowed in the current quarter, economists say
A new RBC outlook report forecasts global growth for 2018 and 2019
U.S. consumers spent less at auto dealers, gas stations and department stores in February, causing overall retail sales to slip 0.1%. It was the third consecutive month of declining retail sales, the Commerce Department said Wednesday, though retail sales are still 4% higher from a year ago. In a CIBC economics report, Royce Mendes, director […]
And what those forecasts mean for markets
The Bank of Canada (BoC) today maintained its target for the overnight rate at 1.25%, citing the growing uncertainty around trade. The bank rate is correspondingly 1.5%, and the deposit rate is 1%. In a press release, the central bank said global growth remains solid and broad-based, and it noted that U.S. government spending and […]
With markets attuned to inflation risk and with equity volatility rearing its head, President Trump’s tough talk on trade tariffs isn’t good news. The president has threatened tariffs on aluminum (10%) and steel (25%) imports, with the effect likely being sharply higher domestic metals prices. Douglas Porter, BMO chief economist, estimates in a weekly financial […]
The Bank of Canada is widely expected to hold overnight rates steady at 1.25% at its next decision Wednesday, industry experts say. In a weekly economics report, Derek Holt, vice-president and head of capital markets economics at Scotiabank, says trade policy uncertainty between Canada and the U.S. is among “compelling reasons” to pause the hike […]
The economy grew 3% for all of 2017, compared to 1.4% in 2016
Don't expect big spending or a response to U.S. tax reform, economists say