The Daily Chase: Awaiting U.S. Fed rate decision; Quebec cuts income taxes
BNN Bloomberg
Investors are sitting on the sidelines as we await the latest rate decision out of the U.S. Federal Reserve.
A BIT MORE INSIGHT FROM THE BANK OF CANADA
Speaking of central banks, we’re poised to get a bit more insight into the Bank of Canada’s decision to pause on rate increases when the bank releases its summary of deliberations today at 1:30 p.m. EDT. Based on the first summary of deliberations (this is a relatively new initiative the bank has undertaken for transparency’s sake), it won’t be the most detailed document, but it should offer some clues as to how the BoC viewed its decision to potentially diverge from the Fed in this rate-hiking cycle. Now, the Bank of Canada has said it’s comfortable forging its own path and is fine with some degree of divergence, but there are inflationary implications, given the potential for a weaker Canadian dollar relative to the greenback and the volume of goods we import from south of the border.
ACTIVIST TARGETS PARKLAND CORP.
