RBC

(Nov. 8, 2018) — As expected, today’s FOMC meeting was very straightforward—no rate hike and only minor tweaks to the policy statement.

(July 27, 2018) — Ferley adds, “Future rate increases are expected at a rate of once a quarter through the end of next year.”

(May 18, 2017) — “We saw some evidence of underlying inflation accelerating earlier this year,” said Nye. “But that wasn’t the case in April with core prices coming in flat month-over-month.”

(May 16, 2018) — Price increases accounted for more than half of a surprisingly large 1.4 percent increase in nominal manufacturing sales in March.

(March 22, 2018) — The recent rate hike was no surprise and a slightly more upbeat tone in the policy statement was consistent with Gov. Powell’s recent remarks.

(March 13, 2018) — Stated Nathan Janzen, senior economist, RBC: “This is fully consistent with the view that — barring some unexpected shock — interest rates will continue to grind gradually higher towards long-run ‘neutral’ rates.”

(Feb. 14, 2018) — The January CPI report indicated consumer prices rose a stronger than expected 0.5 percent in the month.

(Jan. 12, 2018) — “While core inflation is likely to remain stuck below 2 percent early this year, we continue to expect the Fed will raise rates again in March,” states Josh Nye, RBC economist.

(Dec. 14, 2017) — The Federal Reserve (Fed) raised its benchmark interest rate, the fed funds rate, by 25 basis points to a range of 1.25 percent to 1.5 percent.

(Dec. 14., 2017) — Today’s household debt numbers told a familiar story as borrowing once again outpaced disposable income growth, reported RBC Economist Josh Nye.

(Dec. 13, 2017) — The absence of inflation pressures has been a puzzle with respect to the U.S. economy, reported Paul Ferley, assistant chief economist at RBC.

(Oct. 27, 2017) — “The 3 percent gain in Q3 GDP marks a second consecutive quarter of growth well-above the economy’s long-run ‘potential’ growth rate, reported Nathan Janzen, senior economist at RBC.

(Sept. 29, 2017) — Canada’s eight-month streak of monthly GDP growth came to an end in July with GDP holding steady at June’s level, reported RBC.

(Sept. 21, 2017) — A little-changed set of “dot plot” projections show another rate hike is likely by the end of this year with three more rate hikes seen next year.

(July 21, 2017) — The 0.6 percent increase was boosted by a stronger-than-expected 2.4 percent surge in motor vehicles sales that more than offset gasoline station receipts dropping a smaller than expected 0.6 percent.

(June 30, 2017) — “Expected future sales growth and hiring intentions both rose with the latter easily hitting a record high,” said Janzen. “Investment intentions dipped but from a very high Q1 reading that matched the second-highest on record.

(June 22, 2017) — E-commerce sales, not all of which are included in the headline retail sales numbers, surged 42 percent from a year ago in April and are up 40 percent year-to-date.

(June 14, 2017) — Updated projections show slightly stronger growth is expected this year. Inflation was revised lower for 2017, but is forecast to return to 2 percent thereafter.

(June 14, 2017) — Household net worth in Canada climbed to a record high of $10.5 trillion in the first quarter of 2017. However, the all items U.S. Consumer Price Index unexpectedly fell 0.1 percent in May to bring the year-over-year rate down to 1.9 percent from 2.2 percent in April.

(June 9, 2017) — “The jump in employment in May continued an unusually long streak of gains for a survey that is typically very volatile,” said Janzen. “The 55,000 surge in employment marked the 16th gain out of the last 18 months.”

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