BoC's Macklem flags concern over sticky fuel margins, inflation outlook
BoC's Macklem says fuel margin normalization may take time, worrying for inflation. Q4 growth forecast cut to 0.75%.
BoC's Macklem says fuel margin normalization may take time, worrying for inflation. Q4 growth forecast cut to 0.75%.
Canada's August producer price index rose 1.3% m/m, up from 0.6%. Annual PPI increased 13.5%, and raw materials prices also surged.
The Bank of Canada's Governing Council sees near-term inflation staying elevated, while markets anticipate over 100 basis points of rate hikes.
Canada will allow immediate expensing for most new capital investment, Prime Minister Mark Carney said.
Canada's July wholesale sales rose 0.3%, beating the -0.5% forecast, though volumes fell 0.6%.
Canada's August CPI matched expectations at 3.0% year-on-year, while core measures were mixed and the Canadian dollar fell on reduced rate hike odds.
Canada's economy lost 41,700 jobs in August, far below the 15,000 gain expected, while the unemployment rate held at 6.4%.
BOC Governor Macklem comments on inflation risks and policy outlook, influencing the CAD.
Bank of Canada kept policy rate unchanged, citing a broadening recovery but increased upside risks to inflation from energy prices and trade uncertainty.
The Bank of Canada held its overnight rate at 2.25%, noting increased inflation risks and trade uncertainty from US tariffs.