The Daily Chase: Awaiting BoC rate decision; Grocers appear before lawmakers
BNN Bloomberg
Bank of Canada Governor Tiff Macklem is taking the spotlight today with his latest rate decision a little later this morning.
MARKETS STABILIZE AFTER POWELL SPOOKS INVESTORS
Looks like a relative calm has settled into equity markets after yesterday’s selloff. Futures for all three of the major indices south of the border are rather placid so far, flat-ish after declining the better part of one-and-a-half per cent yesterday. So, back to the Jay Powell impact – he’s on Capitol Hill for two days of testimony, and yesterday’s remarks reinforced previous commentary, that the Fed is ready and willing to keep hiking interest rates if it sees the need in its fight against inflation. Essentially, the Fed Chair said the terminal rate – where the hiking rate ends – may be higher than previously outlined, should economic indicators not come into line with its goals.
TAKE-PRIVATE FIGHT AT CANACCORD HEATS UP
