-- Consumer spending in Canada has continued to show signs of weakness over the past two months, according to fresh data from the country’s two largest banks.Five Under-the-Radar Billionaires Making Vast Fortunes in Modi's India
TD and RBC are the only two of Canada’s big five banks that have recently published consumer spending trackers. The TD tracker has broadly matched Statistics Canada’s retail data on a yearly basis.Combined, debit and credit cards accounted for 92% of the value of point-of-sale transactions in 2022, according to a Payments Canada report from last fall.
The dollar edged higher on Tuesday as traders awaited U.S. inflation data, while the yen hovered near a two-week low, stoking intervention worries. The sterling fell sharply after Bank of England Chief Economist Huw Pill said it was not unreasonable to believe that over summer there might be enough confidence to consider rate cuts.Huw Pill also said there is ‘some way to go’ in getting and keeping inflation to the Bank’s 2% target.
Bloomberg Statistics Canada Canada Consumer Spending Retail Sales
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