Eric Lascelles
Eric Lascelles
canadian confront continues elevated fact including input muscular prices report sector spectrum testament wide
(The report is) a testament to the fact that the Canadian manufacturing sector continues to confront a wide spectrum of challenges, including elevated input prices and a muscular Canadian dollar.
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.
came confidence flip michigan price producer university weak
We did have a weak University of Michigan confidence index ... but on the flip side, you had the producer price index, which came in a little strong.
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.
both companies forward rough time tough troubles workers
Clearly, many of these automakers are encountering pretty substantial troubles and I think it is going to be a tough time for both the workers and the companies going forward - we'll just have to see how rough it is.
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 canada cause differ likely peak percent
I don't think this is going to cause the Bank of Canada to differ in its ways. We still think 4 percent (overnight rate) is the likely peak for them.
certainly election impact minority
I don't think there has been much of an impact at all from the election because, certainly a minority was expected, a minority was the outcome.
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.
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.
appears business conditions continued light likely sector sour survey trend
The manufacturing sector continued to struggle. And in light of the sour business conditions survey ... that trend appears likely to continue.
commodity
The commodity play is a big part of the story there.
figures hard imagine individual
It's hard to imagine that individual month-to-month figures are going to have much bearing.