Did the Earth Just Move?

The Week Ahead

June 4, 2018

The Bank of Canada isn’t known for its subtlety. While it’s a central bank that supposedly wants to eschew forward guidance, it’s been hitting markets with verbal sledgehammers in the last year. Recall the dramatic swing from claiming there was still lots of slack hidden in weak working hours in April last year to a quick warning of an upcoming hike only a couple of months later. That was well justified by an equally dramatic upturn in Canada’s growth rate in the first half of 2017.

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