Market Factors: A 75 basis point rate cut would not be that surprising

This week a CIBC economist posits the unthinkable for the Bank of Canada, economic professors argue informatively about the real causes of 1970s inflation, why Wegovy might be an even bigger wonder drug and a look ahead to major data releases.The S&P/TSX Composite is having a strong year, up 23 per cent so far, but the economy stinks to the point that one economist thinks a 75 basis point cut is more likely on Wednesday than 25 basis points.

Indebted domestic households are clearly struggling with higher borrowing costs more than U.S. consumers who delevered after the financial crisis.a 75 basis point rate cut next week than against it. Mr. Shenfeld is a member of the CD Howe Institute’s shadow central bank committee, modeled on the Bank of Canada. He reports that all but two of the Bay Street and academic economists on the committee believe 75 basis points in cuts are necessary before year end.

Labour power, thanks to unions, resulted in meagre corporate profits in the 1970s whereas the inverse, capital dominating labour to produce high profit margins, was the trend of the 2010s.I learned a lot. For one, the theory that wage demands were a central cause of 1970s inflation are now widely disparaged. The two economists agree that the abandonment of Bretton Woods - which partially pegged the U.S. dollar to gold until 1971 - was a major factor .

The drugs work by mimicking the naturally occurring hormone GLP-1, which is released while we eat as a signal to the pancreas to produce insulin. Unbeknownst to the original developers, there are also GLP-1 receptors in the heart and brain that tell the body it’s taken on enough food. It now appears that these receptors tell the brain to shut down, or at least reduce, a lot of different cravings - and not just for food if the patient takes a big enough dose.

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