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Early Morning with Dave
All Eyes Now on the Bank of Canada
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All Eyes Now on the Bank of Canada

No cut from the BoC today would be a major error

David Rosenberg's avatar
David Rosenberg
Jun 05, 2024
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Early Morning with Dave
Early Morning with Dave
All Eyes Now on the Bank of Canada
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Highlights

  • No cut from the BoC today would be a major error

  • Retailers roll back prices and auto inventories pile up — not inflationary

  • Construction employment is on the chopping block

  • Investors have no reason to worry about India’s election results

While We Were Sleeping

The key today is the Bank of Canada meeting at 9:45 a.m. ET. I can only really give my opinion here but if we don’t get a rate cut then either the brass at the central bank should check themselves into the psych ward or just resign. It’s crazy that there is even a debate at this point given how tight policy is, where inflation has gone and what the local economy is doing.

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