Global Economy

While GDP rebounded by 0.65% in Q3 (2.6% annualized), the expansion was driven almost entirely by a 2.2% drop in imports.

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

Non-farm payroll booked an increase of 236,000 in March, a further deceleration from February's 326,000, which was revised upward from the preliminary figure of 311,000, according to the Bureau of Labor Statistics' establishment survey.

Bank of Canada isn't entirely sure what the country's natural rate of interest is and the central bank will have to discover it over time, said Governor Tiff Macklem.

Federal Reserve governor Michelle Bowman is worried about reacceleration in cost of living, saying that she 'still see some upside risks to inflation'

Bank of Canada maintained its benchmark interest rate at 5% but warned about persistent underlying inflationary pressure.

Bank of Canada officials were increasingly concerned about potential risk of consumption slowdown amid growing slack in the labor market and excess supply in the economy when they cut interest rate during July 24 meeting, according to the central bank's summary of deliberations.

G20's economic officials will gather in India next week to discuss ways to boost lending to developing countries from multilateral institutions and to reform the international debt system, Reuters cited unnamed Indian officials.

Canada retail sales increased 1.46% month-over-month in June while core retail sales, which exclude gasoline and auto sales, was up 1.95%.

Canada's CPI rose 2.78% in February, a further slowdown from the 2.86% increase in the January