{"id":97204,"date":"2025-10-23T20:31:09","date_gmt":"2025-10-23T20:31:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/97204\/"},"modified":"2025-10-23T20:31:09","modified_gmt":"2025-10-23T20:31:09","slug":"latest-retail-sales-figures-keep-boc-on-track-for-cuts","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/97204\/","title":{"rendered":"Latest retail sales figures keep BoC on track for cuts"},"content":{"rendered":"<p>\u201cAuto sales contributed to the August advance, although that was offset by a decline in the other often volatile segment of gasoline stations.\u201d<\/p>\n<p>However, the momentum appears short-lived. StatCan\u2019s advance estimate for September points to a 0.7% drop in retail sales, which could look even weaker in volume terms as goods prices ticked higher.<\/p>\n<p>\u201cDespite a decent August report, the disappointing September flash highlights the underlying weakness in Canadian retail spending,\u201d said Shelly Kaushik, senior economist at Bank of Montreal.<\/p>\n<p>\u201cNet risks remain to the downside given ongoing trade uncertainty, keeping the Bank of Canada on its dovish path. We continue to believe that the Bank <a href=\"https:\/\/www.mpamag.com\/ca\/mortgage-industry\/market-updates\/heres-what-economists-say-about-rate-cut-chances-after-latest-inflation-surprise\/553881\" rel=\"nofollow noopener\" target=\"_blank\">isn\u2019t done easing just yet<\/a>.\u201d<\/p>\n<p>Grantham also noted that retail sales volumes have barely changed since December, reflecting weak consumer confidence due to United States tariff uncertainty and a softer job market, \u201cand justifying a further interest rate cut from the Bank of Canada next week.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cAuto sales contributed to the August advance, although that was offset by a decline in the other often&hellip;\n","protected":false},"author":2,"featured_media":97205,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[71706,138,13488,220,111,139,69,13287],"class_list":["post-97204","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-boc-rate-cuts","tag-business","tag-economists","tag-markets","tag-new-zealand","tag-newzealand","tag-nz","tag-retail-sales"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/97204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=97204"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/97204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/97205"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=97204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=97204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=97204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}