Retail sales take a tumble in May due to trade uncertainty

Core inflation eased in May, but not enough to alleviate the BoC’s concerns

The economy likely contracted in Q2, but the worst may have passed

A surge in employment likely to put the BoC on hold in July

Mid-year Outlook: As uncertainty fades, the economy is no longer deteriorating

Core inflation remains a concern for the BoC, meaning no cut in July

Insolvencies remain on a declining trend in May, despite the trade shock

Housing activity improves, as the extreme uncertainty eases somewhat

Bank of Canada: On hold, but willing to cut if underlying inflationary pressures ease

With higher economic activity in June, Canada may have avoided a recession