Eric Lascelles
Eric Lascelles
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.
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.
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.
alive canadian continue economy positive
The Canadian economy is alive and well and will continue to grow. This will be near-term positive for the Canadian dollar.
canadian dollar gone
The Canadian dollar has gone through the roof.
cautious expected hike intent looking rate vein
The intent of that, in my view, is to say they are very cautious about looking forward. A rate hike should not be expected in the same vein that one was expected for today.
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.
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.
notable word
The most notable (change) is the insertion of the word 'modest.' And that's been interpreted in a dovish fashion.
business canada continues grow moderate sector
The business sector in Canada continues to grow at a moderate pace.
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.
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.