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5 Things to Know Today: Canada’s Money Headlines

1. Bank of Canada expected to hold rates amid Iran‑war price pressures The Bank of Canada is preparing its next rate decision, with policymakers weighing inflation risks tied to the Iran conflict. Markets expect a hold as the Bank releases its new monetary policy report this week.  2. Oil & energy costs rise as global uncertainty persists Oil prices climbed more than US$2.50 as geopolitical tensions continue to influence global supply expectations. Canadian producers are also facing scrutiny, including Cenovus’s Newfoundland oilfield extension, which is projected to increase emissions by 21%. 3. Inflation pressures remain elevated for Canadian households Canada’s annual inflation rate rose to 2.4% in March , driven largely by higher gas prices. Rising costs continue to squeeze consumers, with food and essentials remaining stubbornly expensive.  4. Retail sales slow as Canadians pull back New data shows retail sales growth is losing momentum as households tighten bu...
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Wall Street Seeks First Gains of 2024 in Modest Pre-Market Trading

 

Wall Street is seeking its first gains of 2024, with the benchmark S&P 500 index ticking modestly higher in premarket trading on Thursday. The index has fallen in four of the past five sessions, as investors have grown increasingly cautious about the U.S. central bank’s expected pivot to rate cuts this year and how quickly these might be implemented. While the Fed is widely expected to keep rates on hold in January, traders have priced in a 67% chance of a 25 basis point rate cut in March, as per CMEGroup’s FedWatch tool. The Toronto Stock Exchange’s S&P/TSX composite index ended down 53.56 points, or 0.3%, at 20,818.58 on Wednesday.

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