UNCERTAINTY ON THE INTEREST RATE TO COME

Jun 22, 2018

By Michael Kramer

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Two reports from Statistics Canada are adding more uncertainty to the interest rate outlook.

Experts have been speculating for months now – that Bank of Canada governor Stephen Poloz would raise the benchmark rate at the July 11th meeting.

But expanding economic questions – mostly linked to trade concerns around U-S President Donald Trump’s protectionist agenda – have begun to lead some analysts to wonder if Poloz will leave the rate as it is.

StatsCan released inflation numbers this morning – showing annual inflation rose at a pace of 2.2 per cent in May for the second straight month.

In the second report, StatsCan found that retail sales contracted in April by 1.2 per cent.

That was the reading’s first month-to-month decline since December.

 

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