Archives for May, 2008
The Weekly Bottom Line
To the consternation of central banks everywhere, the tug of war between economic growth and inflation continued to rage this week. While the estimate for U.S. economic expansion in the first quarter was revised up to nearly one per cent, the Canadian economy unexpectedly shrank by 0.3 per cent in…
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Weekly Focus: ECB Meeting in the Shadow of High Inflation and Slowing Growth
Key event of the week will be the ECB’s meeting on Thursday. The ECB has previously lowered its key rates in periods of relatively high inflation and low growth. Whether this will be the case this time around is very difficult to call. We have not previously been in a…
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Forex Fundamental Outlook
April personal income and personal spending were up 0.2%. Also, personal consumption expenditures were up 3.2% y/y at the headline level, 0.1% m/m at the core level, and 2.1% y/y at the core level. The Federal Reserve’s perceived upper comfort zone limit for inflation is around 2.0%. It was also…
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