Making sense of the markets this week: December 18, 2022 Dec 16th

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Making sense of the markets this week: December 18, 2022

– moneysense.ca

This week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.

U.S. inflation cools in November

We’ll get to the rate hike decision in a minute, but first let’s look at the Tuesday inflation reading that set the table for serving up a 50-basis point (bps) hike in the U.S.. This move south of the border follows the 50-bps rate hike in Canada last week.

Here’s the recent Canadian rate hike history:

1%: up 50 bps on April 13 1.5%: up 50 bps on June 12.5%: up 100 bps on July 133.25%: up 75 bps on September 73.75%: up 50 bps on October 264.25%: up 50 bps on December 7

The U.S. inflation reading came in cooler than expected. The total (all items) consumer price index (CPI) estimate for November was a 7.3% increase. The print came in at 7.12%—0.18% “cooler” than expected. Core inflation was expected to come in at 6.10%, but the number ticked down to 5.96%—0.14% better than consensus…

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