You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large inter-bank transactions effected during the business day, as may be reported in The Wall Street Journal or elsewhere. If we assign an exchange rate to your foreign exchange transaction, that exchange rate will be determined by us in our sole discretion based upon such factors as we determine relevant, including without limitation, market conditions, exchange rates charged by other parties, our desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. By moving aggressively now, policymakers hope they are pre-empting a bad outcome.1Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. That risks an inflation spiral that would require a recession to stop. Recent data showed that companies and households are starting to bake expectations of higher inflation into what they charge for goods and services and what they expect to be paid for their labour. ![]() Still, price stability remained the primary mission, and since it is now clear that inflation isn’t slowing on its own, the Bank of Canada decided to go with a shock-and-awe increase to show the public it’s serious about getting price pressures under control. (The April estimate had housing subtracting 0.2 percentage points from GDP in 2023.)įive-year fixed mortgage rates are now at their highest in more than a decade.Ĭentral banks have spent the past decade thinking about the extent to which they test old relationships between employment and inflation, because there was plenty of evidence that they could probably run their economies hotter than they thought. The biggest change in the Bank of Canada’s forecast for economic growth is its outlook for the contribution from housing, which it now sees subtracting 0.7 percentage points from gross domestic product in 2022 and an additional 0.6 percentage points from its 2023 GDP calculation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |