Eric Lascelles
Eric Lascelles
bank canada certainly left tag
We certainly do think there are another two (rate hikes) left in the Bank of Canada before they tag out.
arising bank canada certainly concerned continues pressures suggest
(The survey) certainly continues to suggest that the Bank of Canada need not be concerned about inflationary pressures arising from manufacturers.
bank canada excuse further halt next percent provide reports twin
Today's twin reports provide a further excuse for the Bank of Canada to halt at 4.0 percent after next week's hike.
bank beyond canada closely number sit whether
The Bank of Canada may look closely at this number and sit up and think whether they should go further. There is a probability they may go beyond 4 percent.
aware bank cumulative fully hikes impact six
This ... suggests that the bank is well aware that the six consecutive hikes ... have a cumulative impact that has not yet been fully felt.
bank beyond canada canadian closely continued employment huge increase interest labor number rates shows sit strength supports whether
There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.
bank closely favorite quite sit
We've been told before that this is the Bank of Canada's favorite measure. So, the Bank of Canada, without question, is going to sit up quite closely and look at this release.
bank canada cause differ likely peak percent
I don't think this is going to cause the Bank of Canada to differ in its ways. We still think 4 percent (overnight rate) is the likely peak for them.
anyway bank beyond canada hand inflation less market move moves surprise
Inflation isn't out of hand anyway in Canada. The market may think the Bank of Canada will move less aggressively. It will be a surprise if the bank moves beyond 4 percent.
bump canadian dollar evident oil perhaps prices wholesale
Perhaps part of the story for the Canadian dollar is the bump in oil prices and these wholesale numbers, but that's not all that evident in the fixed-income market.
canadian dollar paying piper question
There's no question manufacturers are paying the piper in some sense, in that they did get away with a lot over the 1990s when the Canadian dollar was weak.
dollar obvious seem
It does look like a U.S. dollar story. There doesn't seem to be any obvious fundamental story.
begin canadian cold cooling further needed outlook poured report water
Today's report poured some further cold water on the outlook for the Canadian manufacturing sector, not that it needed any cooling off to begin with.
action certainly monetary picture policy supportive underlying
Basically, it's the same underlying picture and certainly supportive of the monetary policy action they've been undertaking.