PREVIOUS TRADING DAY EVENTS 31 March 2023

Announcements 

The monthly CPI figure, change in the inflationadjusted value of all goods and services produced by the economy was released yesterday 31st of March and it was higher than expected, 0.5. Despite rate hikes, the economy over Q4 and Q1 is outpacing the Bank of Canadas forecasts showing surprising strength.

The Canadian economy is now on track to expand at an annualised rate of 2.8 in the first quarter, assuming March growth comes in flat.

The Bank of Canada is likely at a crucial juncture and facing a significant dilemma, Charles StArnaud, chief economist at Credit Union Central Alberta Ltd. said in a report to investors. The central bank may have to choose between fighting inflation and hiking interest rates again or focusing on financial stability and keeping rates on hold.
Source httpswww150.statcan.gc.can1dailyquotidien230228dq230228beng.htm

httpswww.bloomberg.comnewsarticles20230331canadaseconomyshowssurprisingresiliencedespiteratehikesxj4y7vzkg

Key Fed inflation gauge rose 0.3 in February, less than expected as per the release of the US Core PCE Price Index change on 31st March.

This personal consumption expenditure price index excluding food and energy increased 0.3 for the month, the Commerce Department reported on Friday. That was below the 0.4 Dow Jones estimate and lower than the 0.5 January increase.

The inflation trend looks promising for investors. Inflation will likely be below 4 by the…