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Mario Draghi: No rush to raise interest rates

The EUR/CAD currency pair fell last week based on the economic data released. Euro zone unemployment is higher than official data suggest, continuing to keep wage growth muted, according to European Central Bank. Eurozone industrial production dropped for a second straight month in March and industrial output slid unexpectedly by 0.1 percent.
Wage growth has been unexpectedly weak and the ECB has argued that better wage dynamics are needed for the inflation rebound to become sustainable, a key condition for cutting back stimulus. ECB President Mario Draghi said confirmed he is in no rush to raise interest rates or wind down the ECB's 2.3 billion euro (£1.9 billion) bond-buying programme despite insistence from countries as the Netherlands and Germany. However, Euro zone economic growth should grow a bit faster this year and the unemployment rate could be the lowest in a decade, the European Commission said last week.
Canada: Prices for new housing rose
Prices for new housing in Canada rose by 0.2 percent in March from February on gains in Toronto and Vancouver, Statistics Canada data indicated on Thursday. Compared with March 2016, prices climbed by 3.3 percent.

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