Don Curren 🇨🇦🇺🇦1 CIBC: #retailsales in #Canada took a step back in December, but advance data for January pointed to a leap forward to start the New Year. Following a year in which inflation-adjusted sales have moved broadly sideways, January's advance estimate could indicate … 🧵
#cdnecon
2 CIBC: … that household spending is finding a firmer footing again, justifying #BankofCanada's current stance to hold #interestrates steady at a level slightly below neutral. However, we will need a few more months worth of data to confirm retail spending is really turning a corner or not #cdnecon