Do you write or edit portfolio manager commentaries? Do you want to stay on top of the macroeconomic events that shape your day-to-day life as a financial services marketer?
If so, here are the big macro events that the ext. team is keeping an eye on over the coming weeks.
- On November 29, Canada will announce its gross domestic product (“GDP”) growth rate for the third quarter. Canada’s GDP grew 3.7%, annualized, in the second quarter, an improvement from the 0.5% growth in the previous quarter. Canada’s economy benefited from a rise in exports and real estate. However, personal spending slowed, which may be indicative of a weaker consumer
- The Bank of Canada (“BoC”) will announce its interest rate decision on December 4. At its last meeting in October, the BoC held its benchmark overnight interest rate steady at 1.75%. Despite leaving its central interest rate steady, the BoC stated that future rate decisions will be largely dependent on the strength of the Canadian economy, which could be “tested” by global economic weakness
- Canada’s unemployment rate for November will be announced on December 6. In October, the Canadian economy lost 1,800 jobs. Still, the unemployment rate remained unchanged at 5.5%. Canada’s unemployment rate remains close to its lowest level in decades, which is contributing to the relative strength of the Canadian economy
- The U.S. Federal Reserve Board (“Fed”) will announce its interest rate decision on December 11. The Fed reduced its central interest rate to a target range between 1.50%-1.75% at its most recent meeting. The Fed’s third reduction of the year was due in part to weaker inflation and global economic risks. The Fed appears to be done adjusting its central interest rate but will closely monitor incoming economic data ahead of future meetings
- On December 19, the Bank of England (“BoE”) will announce its interest rate decision. The BoE has held its Bank Rate steady at 0.75% throughout 2019. At its most recent meeting at the beginning of November, the BoE lowered its outlook given concerns about the global economy and Brexit. Two members of the BoE also voted to reduce its central interest rate, which could signal the BoE is ready to adjust interest rates should economic conditions warrant