Inflation rises in May, casting doubt on BoC's July rate decision [Wealth Professional (Canada)]
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Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Wealth Professional
The annual inflation rate unexpectedly increased in May, raising doubts about the Bank of Canada's next interest rate decision in July amid “bumpy and choppy” conditions, as reported by The Canadian Press Statistics Canada reported Tuesday that the annual rate rose to 2.9 per cent in May, up from 2.7 per cent in April. This rise follows the BoC's recent decision to cut its benchmark interest rate by a quarter of a percentage point to 4.75 per cent. TD Bank senior economist James Orlando described the inflation report as “disappointing” due to increases in both core and overall inflation. “One bad inflation print doesn't make a trend, and inflation remained below three percent. But it does speak to the unevenness of the path back to two percent. For this reason, we think the BoC will likely pause at its July meeting before cutting rates again in September,” he noted. The BoC will make its next rate decision on July 24, alongside publishing its latest economic outlook in the mo
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TD
Earnings
- 5/23/24 - Beat
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Sec Filings
- 6/28/24 - Form FWP
- 6/28/24 - Form FWP
- 6/28/24 - Form 424B2
- TD's page on the SEC website