Nov 10, 2025 | Monthly Commentaries
‘The man who drowns in a river with an average depth of six inches is still dead.’ Proverb In a world where data is gold, one of the most used and cited statistics is the average or mean. As a datum, it aggregates information into a single number or value. And...Oct 29, 2025 | Notes from the Desk
This morning, the BoC cut the policy rate by 25 bps, bringing it to 2.25%. The vital development was the Bank signalling that this might be it for rate cuts, at least in the near term. The interesting bits. “The Governing Council sees the current policy rate at about...Oct 9, 2025 | Monthly Commentaries
‘Canada is a country whose main exports are hockey players and cold fronts. Our main imports are baseball players and acid rain.’ Pierre Trudeau At the start of Trump 2.0, Canadians were on edge and outraged. The ‘51st State’ rhetoric and threats to our economy...Sep 17, 2025 | Notes from the Desk
For the first time since March, there was a clear consensus at the BoC to cut the policy rate by 25 bps to 2.5%. The important bits. The decision to cut was based on the balance of risks shifting from inflation to the labour market and the economy. Inflation. On...Sep 10, 2025 | Monthly Commentaries
‘When the facts change, I change my mind – what do you do, sir?.’ John Maynard Keynes Seven years ago, we penned a commentary titled, ‘Don’t Fight the Fed’ (November 2018). It was during President Trump’s first term in office, back when his preferred...
