Not surprisingly, BoE Governor Mark Carney maintained his monetary policy, despite improving workplace conditions in the U.K. The unemployment rate is still at its lowest level in six years, and wages are rising faster than inflation. Nevertheless, the Bank of England remained cautious and lowered its growth forecasts for 2015, because of the bleak global economy and the economic stagnation of Europe. Governor Carney even expects inflation to fall below 1% in the coming months.
In Canada, employment conditions have improved for young workers, who are experiencing their best year since 2002. They have succeeded in landing close to 35% of the 201,000 positions that have been created to date in 2014.
Today we will be monitoring Wholesale Inventories figures in the U.S. and the Teranet National Bank National Composite House Price Index in Canada. We will also be paying special attention to what Mario Draghi will be saying at a conference being held in Rome at 9 a.m. this morning. Have a good day.
Salim Laaroussi
Range of the day: 1.1280 - 1.1380