The Bank of Canada cut its key interest rate to 2.5 per cent as a slowing economy and rising unemployment likely contributed to the unexpected policy action. … READ MORE >
oil prices
Market Minute: U.S. oil producers facing headwinds as global supply grows
The futures prices of the benchmark West Texas Intermediate have fallen below $61 per barrel over the next 12 months on news that OPEC+ intends to increase production. … READ MORE >
Market Minute: Oil prices fall as global production rises
The price of crude oil has continued to drop, with West Texas Intermediate falling below $63 per barrel on Wednesday. … READ MORE >
Canada’s consumer price index steady due to cooling housing market
Canada’s consumer price index rose 1.7 per cent in May thanks to a more balanced housing market and smaller increases in travel prices. … READ MORE >
Market Minute: Supply shocks and inflation expectations
The escalation of hostilities in the Middle East over the weekend could very well be the next step in a broader global supply shock. … READ MORE >
Market Minute: Tanker traffic through Strait of Hormuz at risk
The prospect of an expansion of hostilities in the Middle East has put in focus a potential oil supply shock if shipping through the Strait of Hormuz is significantly disrupted. … READ MORE >
Market Minute: Central banks not immune to rising gas futures
Between May 30 and June 17, gas futures increased by 10.2% in the United States and by 16% in Europe. … READ MORE >
The U.S. is in better position to endure an oil and gas shock
Overall, the impact of the most recent Middle East conflict on the U.S. economy will be muted, but the risks of the conflict expanding remain. … READ MORE >
Market Minute: Why OPEC+ is increasing oil production amid lower prices
While lower oil prices often translate to lower gasoline prices, the recent decoupling between oil and gas prices shows there’s more at play. … READ MORE >
Market Minute: Oil prices are falling, so why not gas?
Since hitting $80 a barrel on Jan. 15, a barrel of West Texas Intermediate crude has fallen by nearly 30%, hitting $56.69 on May 5. Retail gasoline prices, meanwhile, have risen slightly. … READ MORE >