I think the Bank of Canada sees these manufacturing losses as a smooth and necessary adjustment.
The data point to the dilemma facing the Bank of Canada. Rising economy-wide labor cost pressures are likely to push core inflation above the 2 percent target in the second half of 2006, implying a need for further reduction in monetary stimulus.
Canada does have a big stake and the governor of our central bank should definitely put forward his opinions on these kinds of issues.
We had a very good fourth quarter for employment.
We think there's going to be two more rate hikes. One in March and then another in April.
This recent shift towards gift cards that retailers don't count until they're redeemed in January...and the (formerly governing) Liberals' tax cuts should support first-quarter consumer spending.