'Terrific news': Chief economist reacts to latest inflation data
BNN Bloomberg
After Statistics Canada’s latest consumer price index revealed a 2.9 per cent increase in the annual inflation rate in March, largely boosted by higher prices for gasoline, one chief economist says the path towards a June interest rate cut seems clear.
Excluding gasoline prices, Statistics Canada reported that the overall annual inflation rate for March was 2.8 per cent, a drop from 2.9 per cent in February.
“It’s terrific news, really,” said Pedro Antunes, chief economist of the Conference Board of Canada, during an interview with BNN Bloomberg on Tuesday.
“I think this is going to be another sign and insurance that the (Bank of Canada) is going to start to take that burden off of households by lowering interest rates come June,” he said, adding that the central bank has been “very careful around its messaging.”
Top Picks from David Burrows, Chairman & CEO, Barometer Capital Management
Two Canadian cargo ships are stuck in the Persian Gulf and unable to pass through the blocked Strait of Hormuz as the war in Iran continues.
U.S. stocks are sinking Wednesday after another climb for oil prices raised worries about inflation, which may have been primed to worsen even before the war with Iran began.
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays out?
Wall Street followed global markets higher Wednesday and the price of U.S. crude fell eased despite a new barrage of attacks by Iran on its Gulf neighbors.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
Oil prices above $100 add pressure on inflation and growth, complicating rate decisions for central banks.
Closing arguments are set to kick off Tuesday in a trial pitting Elon Musk against Twitter shareholders who say the world’s richest man engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his US$44-billion deal to buy the social media platform in 2022.