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Canada's Interest-Rate Call

ByThe National Bank of Canada
Published 07/18/2016, 12:00 PM
Updated 05/14/2017, 06:45 AM

The news that received the most attention in Canada was the Bank of Canada’s release of its monetary policy decision and, in particular, comments made by Governor Poloz at the press conference. In the U.S., currency and interest-rate markets were up on Friday following the release of data showing a 0.6% rebound in U.S. retail sales in June, well below the 0.1% consensus, and annual inflation at 2.3% (when food and energy prices are excluded). The week also ended on a high note for China, which reported 6.7% growth in the second quarter. In Europe, there was another climactic moment in the Brexit saga last week when Theresa May won her bid to lead the Conservative Party after her only rival unexpectedly bowed out of the race.

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