In the News

Two numbers that are holding back a Fed rate hike

The work of the professional Fed watcher has become more complicated of late. It used to be as easy as keeping an eye on inflation and the unemployment rate. But the Fed’s leaders have made clear they don’t fully trust those dials right how. They have upgraded to a dashboard worthy of this Big Data era.

Kevin Carmichael

Testing the Bank of Canada's neutral stand

WASHINGTON -- The Bank of Canada says it's just going with the flow: If economic data in the months ahead get stronger than currently expected, it will ready for higher interest rates; if economic conditions unexpectedly worsen, the central bank says it is prepared to cut its benchmark interest rate from its already ultra-low setting of 1 per cent.

JEFF McINTOSH FOR THE GLOBE AND MAIL