TD Bank Financial Group

The Bank of Canada (BoC) cut its policy rate by another 25 basis points today, to 2.75%. This is the seventh straight meeting that the bank cut rates. The bank’s outlook recognized that the “economy entered 2025 in a solid […]

Canadian Highlights Trump made good on his 25% tariffs threat against Canada and Mexico this week. In the end it only lasted 72 hours, but the rollercoaster gave markets a fright. Canada’s goods trade balance with the U.S. widened substantially

The U.S. economy added 151k jobs in February, only a touch below the consensus forecast of 160k. Payroll figures for December 2024 were revised higher by 16k (to 323k), while January was revised lower by 18k (to 125k), resulting in

Canada’s merchandise trade balance widened from a revised $1.7 billion in December to $4.0 billion in January. This marked the largest surplus since May 2022. Merchandise exports jumped 5.5% month-on-month (m/m), following a 6% monthly gain in December. Exports of

Canadian Highlights President Trump signalled that broad-based tariffs on Canadian exports will come into effect on March 4th. The wait is on to see if they are indeed implemented. If enacted, these tariffs would hit just when the economy is

Markets President Trump seriously shook up a growth-focused market with some renewed tariffs threats. A nasty equity sell-off, compounded by tech heavyweight Nvidia, ended up in declines of almost 3% on Wall Street yesterday. It resulted in a break lower

Canadian Highlights Headline inflation for the month of January rose to 1.9% year-on-year, while price pressures built in core inflation measures. Canadian retail sales surged in December, registering its largest monthly gain in nearly three years. Spending fatigue likely set-in

Canadian Highlights Headline inflation for the month of January rose to 1.9% year-on-year, while price pressures built in core inflation measures. Canadian retail sales surged in December, registering its largest monthly gain in nearly three years. Spending fatigue likely set-in

Retail sales rose 2.5% month-over-month (m/m) in December, much stronger than Statistics Canada’s advance estimate of 1.6% growth. In real terms, sales growth accelerated to 2.5% m/m, reflecting robust spending supported by the GST/HST tax break. This is the highest

The ISM Manufacturing Index firmed to 49.3 in December from 48.4 last month, and ahead of the step back to 48.2 expected. The deceleration in the manufacturing sector slowed again, as a broader segment of the industry reported growth. Seven