The Bank of Canada remains on the warpath against inflation in an economy where recent job and production gains are, in its view, too much of a good thing.
More Quotes from Avery Shenfeld:
Today's statement ups the odds that the Bank of Canada will be back again with a 25 bp (basis point) 'Christmas present' in December.Avery Shenfeld
These confidence surveys are reflecting what people are reading -- that the economy is not creating jobs. It doesn't mean that people are not spending.
Avery Shenfeld
If markets felt the Bank of Canada was going to press on with rate hikes after the Fed stopped, that could fuel an overheated Canadian dollar, providing too much of a braking force on exports.
Avery Shenfeld
Given all the leverage that the household sector has built up, their confidence in rising home equity has been an important part of their willingness to take on all that (mortgage) debt.
Avery Shenfeld
All told, a fairly strong reading that will only buttress the Bank of Canada's case for remaining hawkish.
Avery Shenfeld
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