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.
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.
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.
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.
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.
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.
argue canadian cent conditions dollar facing fairly far people perhaps reflective somewhere suspect true type valued
Most people would argue the Canadian dollar is fairly valued somewhere in the 80-85 U.S. cent range, and we're not far from that. So I suspect the conditions manufacturers are facing right now are perhaps more reflective of the true long-term type of conditions they should expect.
grim largely line report
This report was largely in line with expectations. It was a grim report.
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.
figures hard imagine individual
It's hard to imagine that individual month-to-month figures are going to have much bearing.
came confidence flip michigan price producer university weak
We did have a weak University of Michigan confidence index ... but on the flip side, you had the producer price index, which came in a little strong.
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.