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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
The below is an excerpt from the MNI BoC Preview (found here).
- GDP growth has come in notably stronger than the BoC expected just six weeks ago, at 1.0% annualized in Q4 along with an upward revised -0.5% in Q3 (initial -1.1%) plus decent momentum in early 2024 according to the January advance increase of 0.4% M/M.
- The BoC forecast 0.0% growth in Q4 before a still tepid 0.5% in Q1 in its January forecast round. This is still below BoC estimates of potential output growth centred around 2.1% (1.0-3.2%) over 2024-25 but nevertheless means a slower increase in excess supply, which was deemed as “modest” as of the January meeting.
- There are some notable caveats: household consumption did admittedly increase 1% annualized in Q4 but final domestic demand was notably weak at -0.7% annualized after a downward revised 0.8% in Q3 (initial 1.3%), owing to heavy declines and downward revisions in private investment.
- Worrying for future growth prospects, the fading drag from residential investment has been replaced by large contractions in non-residential items. Instead, net trade provided a significant share of GDP growth in Q4.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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