The Daily Chase: Awaiting Bank of Canada rate decision; Dollarama beats earnings expectations

​Happy Bank of Canada decision day to all who observe, or merely celebrate secularly with family and friends.

OECD SIGNALS MUTED GROWTH AHEAD

The Organisation for Economic Co-operation and Development is pouring some cold water on any hopes of a return to normal economic growth over the next year and a half. The OECD reckons we’re looking at a 2.7 per cent expansion in global output this year, with a modest uptick to 2.9 per cent in 2024. Not bad, all told, after the pandemic-induced contraction, but well below the 3.4 per cent average in the seven years preceding the pandemic. To blame? The continued slow recovery from said pandemic, the shocks from Russia’s invasion of Ukraine, and the monetary policy tightening from central banks attempting to quell persistently high inflation — to flick at our earlier thoughts on the Bank of Canada. Speaking of Canada, the OECD figures we’re looking at even more tepid growth (generally common for mature economies, to be fair,) of 1.4 per cent both this year and next.

WILDFIRES RAGE ACROSS EASTERN CANADA