Preview: Bank of Canada Expected to Keep Policy Rate at 5% amid Sticky Inflation

–Governing Council Likely to Remain Concerned About Inflationary Risk–Governor Macklem Has Repeatedly Said It is Too Early to Discuss a Rate Cut By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy interest rate — the target for overnight lending rates — at 5.0% on Wednesday for the fourth […]

Bank of Canada Q4 Survey: Business Outlook Indicator Posts 1st Rise in 8 Quarters but High Prices, Wage Growth Seen Hindering Quick Return to 2% Inflation Target

–Firms’ Inflation Expectations Slowly Trending Down but Above 3% Over Next 2 Years–Consumers’ Near-Term Inflation Outlook Little Changed Around 4%  –Businesses, Households Concerned about Economic Outlook Amid High Borrowing Costs By Max Sato Sentiment among companies in Canada picked up slightly in October-December for the first rise in eight quarters amid slowly easing labor shortages […]

White House and Other Schedules for Wednesday, Oct 25

WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR WEDNESDAY, OCTOBER 25, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. […]

Bank of Canada Q3 Survey: Business Outlook Indicator Dips for 7th Straight Quarter to Over 3-Year Low on Widespread Demand Slowdown

–Firms’ Inflation Expectations Edge Down but Remain High–Consumers’ 2-Year Inflation Outlook Rises Slightly to 4%, Still See 5% Price Rise in Year Ahead –Businesses, Households Believe Effects of High Interest Rates Far from Over By Max Sato (MaceNews) – Sentiment among companies in Canada declined for the seventh straight quarter in July-September as the “widespread” […]

Bank of Canada Governor Macklem: Ready to Tighten Further If Needed as Inflation above 3% Still Too High for 2% Target

–Macklem: Too Early to Discuss Lowering Interest Rates–Macklem: Could Start Easing if Conditions Met but ‘We Are Not There Yet’–Macklem: Policy Decisions are Getting Difficult, Aware Canadians Feeling Pain of Higher Rates By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem said Thursday that the bank’s policymakers are prepared to raise interest rates […]