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Tag Archives: RBC

Latest Beige Book doesn’t signal Fed activity

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(Oct. 19, 2016) -- "On balance, there is little to suggest the economy is deviating from the Fed’s projected path, although recent developments aren’t necessarily enough to push the committee’s consensus in favor of a rate hike even after some saw the last decision as a 'close call,'" said Nye. Read More »

Bank of Canada holds interest rate at 0.5%

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(Oct. 29, 2016) -- In 2016, the bank now looks for Q3 growth of 3.2 percent (previously 3.5 percent) with Q4’s growth rate cut to 1.5 percent from 2.8 percent. The bank now looks for the economy to grow by 2.0 percent in 2017 rather than 2.2 percent, said Desjardins. Read More »

September retail sales jump 0.6 percent

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(Oct. 14, 2016) -- Market expectations for a solid increase in September retail sales were based on indications of unit auto sales rebounding sharply. It was confirmed in today’s report with sales of motor vehicle dealerships rising 1.1 percent. Read More »

Interest rate hike likely after U.S. election

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(Oct. 12, 2016) -- "There seemed to be growing concern among some participants that the Fed is falling behind the curve on tightening monetary policy," said Nye. "Several noted the risk, based on historical experience, that waiting too long to resume policy firming could pose risks to the economic expansion." Read More »

U.S. unemployment jumps as Canadian jobs surge

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(Oct. 7, 2016) -- Payroll employment in the United States rose by 156,000 in September, but unemployment jumped from 4.9 to 5 percent. In Canada, the 67,000 increase is the strongest since 2012 and builds on August’s 26,000 job gain, RBC Economics reported. Read More »

Second quarter GDP revised up 0.3 percent

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(Sept. 29, 2016) -- Growth in consumer spending was little changed, up 4.3 percent versus 4.4 percent in the second estimate and still marking the strongest quarterly gain since the fourth quarter of 2014, said Janzen. Read More »

Fed props up economy through election, no rate hike

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(Sept. 22, 2016) -- The committee reducing the number of rate hikes in 2017 to two (from three in June) and maintaining three increases in 2018. The long-run fed funds rate project slipped to 2.9 percent from 3.0 percent, continuing the trend of downgrades, RBC reported. Read More »

Canadian employment rises 26,200

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(Sept. 9, 2016) -- Canada's August monthly employment increased by 26,200, but it did not fully offset the 31, 200 decline in July. However, it compared favorably to expectations for an August gain of 14,000, RBC Economics reported. Read More »

Canadian GDP falls by 1.6% in second quarter

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(Sept. 1, 2016) -- "A sizeable decline in Q2 GDP was generally expected going into the report based on earlier indications that the Alberta wildfires, and attendant shutdowns of oil sands production, sent May GDP down sharply," Ferley explained. Read More »

Consumer spending jumps 0.3% in July

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(Aug. 29, 2016) -- "It is difficult to make the case that inflationary pressure at the consumer level is building in the United States, despite limited slack in the labor market and gradually rising wages," said Nye. Read More »

2Q GDP lower than first reported

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(Aug. 26, 2016) -- Second quarter gross domestic product growth for the United States was revised down to 1.1 percent from the already-modest 1.2 percent advance reading, RBC Economics reported, which noted the revision was in line with market expectations. Read More »