Analysis: Retail sales rise and house prices rebound, but that may not be such happy news. Inflation means we're spending more to get less stuff. And central banks may feel compelled to play spoilsport.
In the U.S., there have been many reports that a persistently rising stock market is making the Federal Reserve nervous. In the Journal's words, a rising market was telling Powell, "You haven't done enough."
"We suspect that for all the Bank [of Canada]'s talk about Q1 GDP [economic growth], April CPI [inflation] and a strong job market, the rekindling in the housing market really hit a nerve," said Porter. Financial regulator OSFI raises minimum capital amount that big banks must have on hand to cover losses
As RBC's Carrie Freestone noted in a CBC interview on Wednesday, before the Bank of Canada makes its decision, there are plenty more indicators besides retail sales and houses to show whether prices are responding to the central bank's action, including new inflation numbers and employment data.
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