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Canada unemployment rate rises to 5.8% as labor force continues to grow

Statistic Canada on Friday reported that Canada's unemployment rate rose to 5.8%,, reaching the highest since the start of 2022.

Bank of Canada holds rate at 5%, cites persistent underlying inflation

Bank of Canada held its overnight rate at 5% after its March monetary policy meeting, citing "risks to the outlook for inflation, particularly the persistence in underlying inflation."

Canada inflation drops to 2.9% in January

Canada's headline CPI rose 2.9% in January, hitting Bank of Canada's inflation-control target range of 1% - 3% for the first time since March 2021.

UK retail sales rebounds 3.4% in Jan after dismal Christmas figures

UK retail volume rose 3.4% MoM in January, after it dropped by 3.3% in December

UK inflation holds at 4% in January

CPI: 4.0% YoY (Dec: 4.0%); Core CPI: 5.1% YoY (Dec: 5.1%)

US Core CPI rises 3.9% in January

Core CPI: 3.86% YoY (Dec: 3.93%) | 0.39% MoM (0.28%)

US payroll growth in Jan beats expectations

US nonfarm payroll increased 353,000 and Unemployment rate as 3.7% in January

Fed to let Bank Term Funding Program expires on March 11

The US central bank also made an adjustment of the program's terms, setting minimum interest rate level at the interest of reserve balance, effective immediately, to block an arbitrage opportunity that banks have been taking advantage of.

Bank of Canada continues to hold rate at 5% as underlying inflation still shows...

Governor Macklem said the "Governing Council’s discussion of monetary policy is shifting from whether our policy rate is restrictive enough to restore price stability, to how long it needs to stay at the current level"

US CPI inflation rebounds in Dec to 3.4%

Core CPI inflation continues to decelerate to 3.93%

Interviews

Cover Photo with Calomiris

Politics and the Economics of Banking Crises | Q&A with Charles Calomiris |

In this installment, we continue our discussion with Prof. Charles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School. The topic of this installment is the missing role of politics in economics models of banking crises. We also discussed if Calomiris thinks macroeconomics has a similar problem.