The Bank of Canada kept its key interest rate at 2.25 per cent—a fifth consecutive hold—due to the elevated level of uncertainty around the direction of the domestic economy and the global financial implications of the war in the Middle East. … READ MORE >
Economics
Inflation outpaced wage growth in May as CPI rose by 4.2%
Inflation in May pushed past 4% for the first time in more than three years because of rising energy, gasoline, transportation and airfare costs. … READ MORE >
Market Minute: Supply shock, CPI and falling real wages
Our forecast for the May consumer price index implies an increase of 0.5% on the month and 4.2% from a year ago, along with a decline in real wages of 0.8% over the past 12 months … READ MORE >
Market Minute: Smells like animal spirits
Surging capital expenditures will result in rising productivity, greater output and a robust labor market. … READ MORE >
American rite of spring: Strong job gains and falling wages
Friday’s strong jobs report, which had a 4.3% unemployment rate and modest nominal wage growth, provided a fast-paced opening movement to that symphony that will be followed by a far more complex inflation report. … READ MORE >
Market Minute: Americans still have the travel bug
Despite surging air fares, airline demand remains on a solid trajectory that looks like the strong years of 2024 and 2025. … READ MORE >
Market Minute: Expect hiring to edge higher amid soft wage growth
We are forecasting that the jobs report for May will show an increase of 95,000 new positions with risk of a quicker pace. … READ MORE >
Job openings rise to a two-year high
The sharp increase in the Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics followed disappointing results in February and March. … READ MORE >
Market Minute: Sticky service sector inflation
The increase in service sector prices pre-dated the recent supply shock and is part of a broader rise in inflation and interest rates., … READ MORE >
Manufacturing advanced at fastest pace in four years, ISM data shows
The manufacturing sector continued its recent run in May, growing significantly for the fifth consecutive month on the back of tariffs and the AI buildout, according data from the Institute for Supply Management. Demand was particularly strong in May, buoyed in part by the prospect of a resolution of the … … READ MORE >