Central Bank Watch
Bank of Canada Rate Cut
June 5, 2024
The Bank of Canada’s policy interest rate of 5.0% since July 2023 has been cut to 4.75% in a move to lessen the degree of policy restraint. However, balance sheet normalization is to continue, and the released statement notably does not commit to any particular timetable of ensuing changes. Recent data has increased our confidence […] More
New Overnight Developments Abroad - Daily Update
Another Sign of Cooler U.S. Growth, Which Isn’t an Entirely Unwelcome Thing
June 5, 2024
ADP’s monthly calculation of U.S. private-sector employment growth rose by a less-than-anticipated 152k last month. That constitutes the smallest gain since +111k in January. Composite and service-sector purchasing manager readings for the euro area in May of 52.2 (a one-year high) and 53.2 (a 3-month low but the fourth straight score above 50) appear to […] More
