By “Even with the windfall from higher oil prices flowing into the terms of trade, the economy needs to demonstrate that it can generate sustained, broad-based growth before the Bank of Canada can justify tightening,” said Karl Schamotta, Corpay.
Dollar firm ahead of Fed, Swedish crown not helped by rate rise
"Traders and investors are taking cover, aware that the dollar is behaving like a force of nature, and unwilling to face its wrath," said Karl Schamotta, chief market strategist, at Corpay in Toronto
Lower than forecast CPI signals a possible BoC rate cut in 2023: Strategist
Karl Schamotta joins BNN Bloomberg for his view on Canada's cooler-than-expected inflation data. Schamotta says this number shows central banks are succeeding at bringing down inflation. He also discusses the weakness of the loonie amid CPI.
Canadian dollar hits near 2-year low, TSX falls as sentiment sours
"The dollar is an unstoppable juggernaut right now, with higher-than-expected inflation and an ever-more-hawkish Federal Reserve sucking capital into the United States and inflicting damage on the rest of the world economy," said Karl Schamotta.
The next US Fed meeting is in November, close to the U.S. midterm elections.
Karthik Sankaran appeared on 680 News to discuss any links between the outcome of US’s November midterms to the inflation rate or the Federal Reserve’s next interest rate decision. Click here to listen
