Bank of Canada to be "Super Careful" on Interest Rates: Scotia Bank

#bankofcanada #canadianeconomy #canadianinterestrates

The Bank of Canada has to be “Super Careful” on interest rate cuts after the release of the Canadian Survey of Consumer Expectations, and the Business Outlook Survey, according to Derek Holt of Scotia Bank.

Links:

There's a good news-bad news angle to the economy right now: Scotiabank's Derek Holt:

https://www.youtube.com/watch?v=GVI-P8FCJwY />
Canadian Survey of Consumer Expectations—First Quarter of 2024:

https://www.bankofcanada.ca/2024/04/canadian-survey-of-consumer-expectations-first-quarter-of-2024/

Business Outlook Survey—First Quarter of 2024:

https://www.bankofcanada.ca/2024/04/business-outlook-survey-first-quarter-of-2024/

Canadian workers' purchasing power fell by most in a decade last year: Oxfam Canada:

https://ca.finance.yahoo.com/news/canadian-workers-purchasing-power-fell-most-decade-last-year-oxfam-canada-182154335.html

'Crying out for relief': Bank of Canada to cut rates more sharply than Fed, says CIBC:
https://financialpost.com/news/economy/bank-of-canada-to-cut-rates-more-sharply-than-fed-cibc

Canada 5 Year Government Bond:

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx />
Treasury yields post biggest one-day leap in over a month as traders react to latest U.S. data:

https://www.marketwatch.com/story/treasury-yield-curve-steepens-as-traders-react-to-latest-inflation-data-ff20634e

Policy interest rate:

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

'Robust demand': GTA gas prices expected to tick up by Easter Sunday and continue rising for weeks ahead, says Dan McTeague:

https://www.toronto.com/news/robust-demand-gta-gas-prices-expected-to-tick-up-by-easter-sunday-and-continue-rising/article_60e0082b-1cae-50a2-8eef-1dcfd8c47bae.html

Stunning uptick in Canadian grocery prices as flyer compares 2019 to 2024:

https://vancouver.citynews.ca/2024/01/23/canadian-grocery-price-comparison-2019-2024/

Many Canadians are fed up with shrinkflation. So what's being done about it?:

https://www.cbc.ca/news/business/shrinkflation-legislation-canada-1.7114612

Despite falling inflation, wage growth leaves the Bank of Canada with a dilemma:

https://www.theglobeandmail.com/business/commentary/article-despite-falling-inflation-wage-growth-leaves-the-bank-of-canada-with-a/

‘Robust’ GDP growth to start 2024 puts Bank of Canada in tough spot:

economists: https://globalnews.ca/news/10389121/canada-economy-gdp-january-2024/

The market sees a less-than-50% chance of a June rate cut after hot factory data:

https://ca.finance.yahoo.com/news/market-sees-less-50-chance-022745735.html

Canadian Interest Rate Expectations:

https://www.m-x.ca/en/trading/tools/canadian-interest-rate-expectations

Increasing number of Canadians in financial distress with rising costs of mortgage renewals, credit card debts:

https://windsorstar.com/news/local-news/increasing-number-of-canadians-in-financial-distress-with-rising-costs-of-mortgage-renewals-credit-card-debts

Measuring household financial stress in Canada using consumer surveys:

https://www.bankofcanada.ca/wp-content/uploads/2024/04/san2024-5.pdf

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