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Weekly Commentary

Inflation in Canada Is Always and Everywhere the Bank of Canada’s Problem

June 9, 2023
Randall Bartlett
Senior Director of Canadian Economics

  • Canadian existing home sales were probably up sharply again in May.
  • Canada: May housing starts are expected to have been more muted.
  • While the Fed is expected to hit pause, another rate hike wouldn't come as a surprise.
  • US inflation should continue to ease, driven by falling energy prices.
  • We expect another rise in US industrial production but a slump in retail sales.
  • The European Central Bank will likely raise its rates again.