RBC Financial Group

The final major data point from Statistics Canada in 2024 will be Monday’s gross domestic product release for October, which will be the last GDP print before the Bank of Canada’s Jan. 29 meeting. We look for a 0.2% increase […]

Canadian consumer price index growth is expected to have eased slightly in November after picking up in October, which is consistent with a persistently softening economy that’s left broader inflation pressures tracking at or below the Bank of Canada’s 2%

We expect the Bank of Canada’s final policy decision of 2024 on Wednesday to be another 50 basis point interest rate cut—adding to a 50 bps cut in October and 125 bps in total cuts since June. Canada’s economic backdrop

We look for gross domestic product growth in Canada to have picked up slightly to 0.2% in September on Friday after holding steady in August. That should leave the Q3 reading in line with our projection for a 1% annualized

Canada’s inflation report for October will be in the spotlight on Tuesday after falling below the Bank of Canada’s 2% target for the first time since 2021 in September. Headline inflation likely edged back to 2% from a smaller annual

U.S. inflation numbers will be closely watched by policymakers on Wednesday for any further signs that resilient growth domestic product and consumer spending is putting a floor under price growth. U.S. GDP growth in Q3 was strong and a jump

We think Friday’s Canadian employment report should tell a familiar story—that the labour market has continued to weaken in October amid slowing hiring demand. Employment is still expected to increase, but not by much. We expect 15,000 jobs were added,

The Bottom Line: The BoC made the leap to cut the overnight rate by 50 bps today, amid accumulating evidence that the economy and labour markets are weakening by more than what is necessary to achieve the 2% inflation target.

The Bank of Canada is expected to accelerate the pace of interest rate cuts with a 50-basis point reduction to the overnight rate to 3.75% from 4.25% on Wednesday. An underperforming Canadian economy had already pushed the BoC to lower

Falling energy prices in September likely pushed Canadian inflation even lower than in August when the headline consumer price index fell to the Bank of Canada’s 2% target for the first time in more than three years. Year-over-year headline CPI