20:29:31 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,763,188,978
Close 2024-04-12 C$ 78.29
Market Cap C$ 138,040,065,088
Recent Sedar Documents

FP says TD, rivals hear we've hit another economic bump

2024-04-12 09:05 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada

The Financial Post reports in its Friday edition that last December, Bank of Canada Governor Tiff Macklem warned that we may experience bumps while riding an economic roller-coaster on our way to achieve 2-per-cent inflation. The Post's Robert McLister writes that similarly, U.S. Federal Reserve chairman Jerome Powell also predicted a bumpy ride to reach the 2-per-cent target. However, most people either ignored these warnings or did not pay much attention to them. On Wednesday, we hit another bump, but not in Canada. The bump occurred south of the border, where the U.S. inflation rate reached 3.5 per cent, which was 0.3 percentage point higher than the previous month and exceeded the forecasted rate. This news was disappointing for economists and low-rate hopefuls, who were expecting the BOC to announce rate cuts and lower yields during Wednesday's meeting. Although the BOC did reassure us about rate relief, the U.S. Consumer Price Index (CPI) drama overshadowed it. Given the Canadian mortgage market is hitched to the U.S. star, it begs two questions. First, how likely is it that March U.S. inflation is more than just a bump in the road? And second, how likely is it that Canadian inflation will follow suit?

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