Market Insights
Monthly Commentaries
Ten Years Later, And We’re Just Getting Started | January 2025
“Birthdays are nature’s way of telling you to eat more cake.”
Notes from the Desk
FOMC Rate Announcement
Nobody was surprised that the FOMC held rates steady this afternoon. Inflation remains elevated, while the labour market remains strong, leaving the FOMC to remain on the sidelines. The Press...
Bank of Canada Rate Announcement
The Bank of Canada (BoC) lowered the policy rate by 25 bps to 3%, now firmly inside the 2.25%-3.25% neutral rate band. The Bank also dropped forward rate guidance, adopting a neutral posture for...
Employment Data – The Plot Thickens
Today’s employment data confirms that economic conditions between Canada and the US continue to diverge. The numbers. US 227k jobs created (220k expected). Unemployment rate: 4.2% (4.1% expected)....
Canadian GDP – Sl’oh Canada
This morning, all eyes were on GDP to hint at what the Bank of Canada (BoC) will do at their December 11th meeting. The numbers. Q3 GDP: 1.0% (vs. 1.1% expected). September MoM GDP: 0.1% (vs. 0.3%)....
CAD October CPI – Neither Here Nor There
Inflation rose slightly in October, with headline CPI at 2%. But this probably does very little to influence the Bank of Canada’s (BoC) decision in December. The numbers. YoY CPI: 2% (1.9%...
Canadian Employment Data – Nothing To See Here
Domestic employment growth was humdrum in October. The numbers. 14.7k jobs created (27k expected) The mix was slightly favourable, with 25.6k full-time positions generated versus 11.2k...