We are pleased to provide the September 2023 edition of Financial Markets Monthly from RBC Economics. This publication includes a forward-looking analysis of Canadian, US and international financial market trends.
Key highlights
- The global economic backdrop is darkening as growth slows in China, while elevated interest rates weigh on Canada, the Euro Area and the UK
- Canadian inflation is still “sticky,” but the Bank of Canada was comfortable enough to pause interest rate hikes (again) amid slowing labour market conditions
- US consumers show no signs of tapping out, though easing inflation is taking pressure off the Fed
- The European Central Bank is expected to pause, while the Bank of England is likely to keep hiking rates as services inflation and wages grow
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