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EconoFACTS: BoC Policy Announcement and MPR — Trade Worries Darken the Outlook
The Bank of Canada held rates steady at 1.75% today, as fully expected. While the bar to move rates remains quite high, there's clearly more caution than in the prior statement from late May. The policy statement was littered with references to trade tensions (five separate mentions for those counting), with the Bank highlighting that as the "biggest downside risk to the global and Canadian outlooks." Accordingly, there were material revisions to the outlook, with global growth prospects cut for 2019 (3% from 3.2%) and 2020 (3.2% from 3.3%). Those downgrades were driven mostly by emerging markets and non-G3 economies. In fact, the U.S. GDP projection for 2019 was upgraded two ticks to 2.5%, while 2020 was flat at 1.7%, both a tick above our call.
Disponible en anglais seulement.
Benjamin Reitzes travaille à la Banque de Montréal depuis plus d’une dizaine d’années. Il est chargé des prévisions m…
VOIR LE PROFIL
The Bank of Canada held rates steady at 1.75% today, as fully expected. While the bar to move rates remains quite high, there's clearly more caution than in the prior statement from late May. The policy statement was littered with references to trade tensions (five separate mentions for those counting), with the Bank highlighting that as the "biggest downside risk to the global and Canadian outlooks." Accordingly, there were material revisions to the outlook, with global growth prospects cut for 2019 (3% from 3.2%) and 2020 (3.2% from 3.3%). Those downgrades were driven mostly by emerging markets and non-G3 economies. In fact, the U.S. GDP projection for 2019 was upgraded two ticks to 2.5%, while 2020 was flat at 1.7%, both a tick above our call.
Disponible en anglais seulement.
Benjamin Reitzes travaille à la Banque de Montréal depuis plus d’une dizaine d’années. Il est chargé des prévisions m…
VOIR LE PROFIL
US Strategy Snapshot: Pictures to Ponder With Stocks Hitting New Records
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Scénario taux: Perspectives sur les principaux taux d’intérêt et de change
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EconoFACTS: FOMC Policy Announcement — Three Hikes And You're Pause!
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Canadian Strategy Snapshot: What a Liberal Minority Means for Markets
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US Strategy Snapshot: Interpreting the Resurgence of Value Stocks
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EconoFACTS: Another rate cut likely coming, but not necessarily next meeting
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US Strategy Comment: Industrials Remain a Top Pick, but Selectivity Is Key
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Canadian Strategy Snapshot: Tactical style playbook for the resources sectors
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Perspectives du marché pour 2019 : L’année à venir pour le Canada et les États-Unis
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Après les élections de mi-mandat, les marchés américains sont stables
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US Strategy Snapshot: Steer clear of sell in May investment strategies
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ACEUM : Quelle est la suite pour les économies américaine et canadienne?
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Qui dispose du pouvoir de fixation des prix dans le secteur de l’alimentation?
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