This morning's merchandise trade report certainly came as a shocker, but this is one case where the headline looks much worse than the details of the data.
More Quotes from Marc Levesque:
The data aren't providing any reason for the Bank of Canada to pause. The risks are on the upside for rate increases. Investors are going to sell bonds.Marc Levesque
So exports actually contributed to net GDP growth in November.
Marc Levesque
In our view, there is still is every reason for the Bank of Canada to continue to nudge its rate higher, and we are not changing our call for a four per cent (overnight) rate by April.
Marc Levesque
Most importantly, the Bank of Canada is not giving the impression that it has much of an appetite for further rate hikes beyond the 4 percent level.
Marc Levesque
I don't know anybody out there who is not expecting the Bank of Canada to hike 25 basis points next week.
Marc Levesque
Real exports are poised to take a bite out of Canada's growth performance for the first quarter as a whole.
Marc Levesque
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