Inflation tick higher in May dashes BoC rate-cut hopes
Canada posted a 2.9 percent annual inflation rate in May up from 2.7 in April, amid bumpy conditions. Thunder Bay rising to 2.2 percent and analysts debate whether the Bank of Canada will pause at its July meeting before potential cuts in September, as markets weigh upcoming data and the economy’s path to 2%.
Bank of Canada rate path eyed as data await April GDP and June labour
Statistics Canada will release April GDP and June labour force data, while the Bank of Canada publishes its business outlook survey and consumer expectations on July 15. Analysts note data could be bumpy but not justify delaying a first rate cut after four months of easing in core inflation. May inflation data show services up 4.6 percent year over year, goods up 1 percent, with mortgage costs rising 23.3 percent and rent 8.9 percent. Gasoline and travel prices also climbed. groceries rose 1.5 percent year over year, the first acceleration since June last year, though up 22.6 percent vs May 2020.
MENTIONED IN THIS ARTICLE
Statistics Canada
Bank of Canada
United States
Pembina and Haisla approve Cedar LNG project near Kitimat
Pembina Pipeline Corp and the Haisla First Nation finalize a positive investment decision for Cedar LNG a 3.3 million tonne per year floating LNG terminal near Kitimat British Columbia The US$4 billion project aims to export Canadian gas to Asia and provide regional jobs and economic prosperity It marks a milestone as the largest Indigenous owned infrastructure venture in Canada and a step toward reconciliation and energy security.
MENTIONED IN THIS ARTICLE
Calgary
Canada
Pembina Pipeline Corp
Haisla First Nation
Kitimat
B.C
Cedar Lng
Pembina
Scott Burrows
Haisla
Crystal Smith
TSX Dips as Inflation Surprises to the Upside
Canada’s S&P/TSX composite falls 60.11 points to 21,788.48 with telecom and base metals dragging. In New York, Dow drops 299.05 while S&P 500 and Nasdaq rise as Nvidia lifts tech. inflation at 2.9% in May tempers rate-cut odds. Celestica gains boost Canadian tech index as crypto shares recover. Bank of Canada easing path remains uncertain with July decision in focus.
MENTIONED IN THIS ARTICLE
Toronto
Canada
U.S
New York
Tech
Nvidia
Celestica Inc
Statistics Canada
Bank of Canada
Tamsin Wilding
Leith Wheeler Investment Counsel Ltd
Also Mentioned on This Page
Wellington Street
Ottawa
Thunder Bay
TD Bank
James Orlando
Orlando
Boc
Olivia Cross
North America
Capital Economics
Cross
Dawn Desjardins
Deloitte Canada
Desjardins
Amanda Stephenson
Canadian Press
Wilding
Oiver
Daidoonce Municipalifl
Oliver Paipoonge Municipal Council
Rosslyn
Oliver
Ontario
Fox
Oliverpaipoonge
CAO
Council
Wayne Hanchard
Oliver Paipoonge
Ontario Land Tribunal
OLT
Kerri Reid