Major News This Week
The National Bank of Canada | Feb 18, 2014 12:15AM ET
In Canada, last Wednesday’s release of the Teranet National Bank index was up 0.4% in January and 4.5% for the year. This is an encouraging sign as the residential real estate sector is an important part of our economy. In her first appearance as Fed Chairwoman, Janet Yellen reassured markets with respect of her interpretation of the American monetary policy. An important point is that she intends to keep the Fed fund rate in the range of 0 and 0.25%, regardless if the unemployment rate falls below 6.5%. She will also look at other indicators such as the high percentage of part-time positions as well as the time frame in which people remain unemployed for more than 6 months. Also in the United States, retail sales for January were released on Thursday and deceived the market as numbers confirmed a contraction of 0.4%, well below expectations of 0%. Have a great week!
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