'Arguing for bigger rate cuts': What lagging GDP might mean to the Bank of Canada [Wealth Professional (Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: Wealth Professional
Statistics Canada's flash estimate shows a 0.3% GDP increase in September and no growth in August, indicating a 1% annualized growth rate for Q3, below the Bank's 1.5% forecast. “We expect economic conditions will continue to look soft in the near term,” Claire Fan, an economist at Royal Bank of Canada, said in a note. “Rate cuts from the Bank of Canada impact the economy with a lag and the level of interest rates is still high.” However, Royce Mendes of Desjardins said that the GDP report hints at an economic rebound percolating in the Canadian economy given the gains in August in the insurance, financial services, and “interest rate sensitive” retail sectors. Mendes suggests a 25-basis-point rate cut in December, while markets anticipate a more aggressive 50-basis-point reduction. On the other hand, Capital Economics' Thomas Ryan argues the revised GDP figures and recent immigration policy shift could prompt the Bank of Canada to lower rates faster than expected. Analysts re
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Earnings
- 8/28/24 - Beat
RY
Sec Filings
- 11/5/24 - Form 424B2
- 11/5/24 - Form FWP
- 11/5/24 - Form FWP
- RY's page on the SEC website