Notes From the Desk – Tracking Trends: CAD CPI on the Downward Path   Governor Macklem and Co. are going to be pleased with the March CPI data. By the numbers:   Headline CPI 2.9% (2.9% expected) CPI Median 2.8% (3% expected) CPI Trim  3.1% (3.2% expected)   Implications. At their last meeting, the Bank […]

Notes From The Desk: Two For One Special – US Inflation & The BoC   US Inflation. US CPI came in hotter than expected for the third month in a row.   Headline inflation printed at 3.5% (vs. 3.4% expected). Core inflation came in at 3.8% (vs. 3.7% expected). Today’s data does not signal the […]

Notes From the Desk- North American Employment Data – Central Bank Conundrum   Today’s employment data does not make steering monetary policy any easier for the Federal Reserve (Fed) or Bank of Canada (BoC).  The US economy continues to produce plenty of jobs without upward wage pressure, while Canada produced no jobs, but wages continue […]

Notes From The Desk – FOMC Meeting – Sticking To The Plan   Today’s FOMC meeting was more about what did not change.  Given the stronger-than-expected inflation data this year, the market feared that the Federal Reserve (Fed) would dial back the number of rate hikes to expect this year.  Despite modest changes to forecasts […]

Notes From the Desk:  Canadian Inflation – The Trend Is Your Friend February’s CPI data surprised to the downside, opening the door wider for the Bank of Canada (Boc) to cut rates later this year. The Numbers. YoY CPI: 2.8% (3.1% expected) YoY CPI Trim: 3.2% (3.4% expected) YoY CPI Median: 3.1% (3.3% expected)   […]