US GDP comes in much stronger than expected - Up 4.9 v 4.5 estimate. The Bank of Canada is going to be in a real spot if this keeps up -
#USGDP
#BankofCanada
#CanadianEconomy
@ronmortgageguy
@akshay_sol
And even then… a plaintiff in one of the landmark cases told me when all was said and done, they were still far in the hole!
BoC Governor Tiff Macklem explains what is clearly evident in data - Shelter costs are high when rates are high, and when they're low -
#BankofCanada
#Statingtheobvious
@ronmortgageguy
I have to believe they knew the CPI was going to rise, but preventing economic collapse was the more pressing priority. Expansion of the money supply (in the real world) = inflation. Otherwise we would do it all of the time.
Canada's unemployment rate jumped over 6% in March - finally making rate-cut talks much less ridiculous (though hotter data coming out of the U.S. will complicate the central bank's path forward)
#BankofCanada
#Canadianeconomy
#Canada
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