Marc Levesque
Marc Levesque
bank canada focused market reaction strength tightly
There's little market reaction I think for two things. First, the strength was anticipated to some extent. Second, the market is very tightly focused on what the Bank of Canada is doing this afternoon.
canadian decision dollar fed market rate weakness
The weakness in the Canadian dollar is essentially a follow-through from yesterday's Fed rate decision that has the market anticipating at least one more hike.
changed economy economy-and-economics focused less markets mean view word
They said nothing's changed in their view of the economy so markets focused on the word 'modest' to mean they'll be less aggressive.
increases market price rate starting
The market is starting to price out some of the rate increases that have been priced in.
afford bank canada cannot check complacent horizon inflation month overnight peak rate time wants
The Bank of Canada cannot afford to be complacent if it wants to keep inflation in check over its 18-24 month time horizon ... Look for the overnight rate to peak at 4 percent.
consumers means obviously spending squeeze
It'll be a pretty big increase. It means a lot for consumers and their pocketbooks, obviously - it's going to squeeze their spending power.
exports growth net
So exports actually contributed to net GDP growth in November.
absolute canadian dollar massively
Currently, the Canadian dollar has been on a tear, an absolute tear. It's been massively outperforming other currencies.
aside changed dodge exactly few leaving message policy since small substance
Aside from a few small snippets, Mr. Dodge could have transmitted exactly the same message by stating that 'nothing of substance has changed since the (Monetary Policy Report) Update', and leaving it at that.
dodge last surprise
Dodge said nothing new that he had not already said last week, no surprise there.
job tale
This is really a tale of two job markets.
basically goes steady
This basically confirms their story, so steady as she goes on that front.
accounting exports growth net positively
As a result, net exports contributed positively to the accounting of GDP growth in November.
battery hikes himself rate sees suggesting surprised time
That's not suggesting to me that he sees himself with having a whole battery of rate hikes going forward. I would not be surprised at all to see them go one more time and then pause.