Inflation breadth can be an effective communication tool for central banks to explain the underlying inflation as it's a relatively easy-to-understand concept, compared to excluding certain components from "core" inflation calculations.
Here, we use the June CPI data to explore whether the inflation breadth has closed as oil prices dropped.
The Federal Reserve announced after the December meeting that it removed the aggregate limit on the Standing Repo Facility (SRF).
Repo rates spiked toward the end of the week, with SOFR and the Tri-party General Collateral rate (TGCR) reaching 4.12% and 4.08% on Friday, respectively, breaching the Federal Reserve's overnight interest rate target range.
Canada's unemployment rate dropped substantially and unexpectedly to 6.5% in November, from 6.9% in the prior month, showing signs of a much-needed resiliency in the North American economy.
