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The Bank of Canada Cuts Rates for the First Time Since March 2020

Canadian Economics    June 5, 2024

Labor market conditions are still favourable for rate cuts, despite April’s employment surprise. April’s employment increase (+90,000) was the largest employment gain in the last 12 months and came above predictions. However, the rosy job numbers were tamped down from a large increase in Canada’s population (over 100,000).

Quick take  •  3-min read
Walter Bolduc

Economy Sees Growth in First Quarter, but Shows Sign of a Slowing Economy

Canadian Economics    May 31, 2024

Real GDP in Canada’s first quarter rose by 1.7 per cent annualized growth, starting the year with a healthy rebound. However, the economy showed signs of slowing, especially as economic growth decelerated each month to start the year, a further sign interest rates may need to move lower soon.

Quick take  •  3-min read
Viktor Cicman

Apples in a mesh bag

Canada’s Consumer Confidence Only Sees Minor Improvements in May

Canadian Economics    May 22, 2024

A June interest rate cut would help confidence, but strong employment growth could impact the timeline of the next cut. If the Bank of Canada interprets the significantly hotter than anticipated labour market as pushing up household demand and thus inflation, this could weigh on the likeliness of a cut next month.

Quick take  •  2-min read
Walter Bolduc

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