Eric Lascelles Quotations

This ... suggests that the bank is well aware that the six consecutive hikes ... have a cumulative impact that has not yet been fully felt.

We did have a weak University of Michigan confidence index ... but on the flip side, you had the producer price index, which came in a little strong.

Most people would argue the Canadian dollar is fairly valued somewhere in the 80-85 U.S. cent range, and we're not far from that. So I suspect the conditions manufacturers are facing right now are perhaps more reflective of the true long-term type of conditions they should expect.

Basically, it's the same underlying picture and certainly supportive of the monetary policy action they've been undertaking.

There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.

We've been told before that this is the Bank of Canada's favorite measure. So, the Bank of Canada, without question, is going to sit up quite closely and look at this release.

There are some weak spots in the report and that's what the market is responding to.

Keep in mind that auto shipments and sales tend to be quite volatile. They've been really going up and down pretty wildly over the last few months, and so I'd be hesitant to read too much into any one reading.

It does look like a U.S. dollar story. There doesn't seem to be any obvious fundamental story.

Today's twin reports provide a further excuse for the Bank of Canada to halt at 4.0 percent after next week's hike.

Today's report poured some further cold water on the outlook for the Canadian manufacturing sector, not that it needed any cooling off to begin with.

This report was largely in line with expectations. It was a grim report.

We certainly do think there are another two (rate hikes) left in the Bank of Canada before they tag out.

There's no question manufacturers are paying the piper in some sense, in that they did get away with a lot over the 1990s when the Canadian dollar was weak.

(The survey) certainly continues to suggest that the Bank of Canada need not be concerned about inflationary pressures arising from manufacturers.

Perhaps part of the story for the Canadian dollar is the bump in oil prices and these wholesale numbers, but that's not all that evident in the fixed-income market.

The most notable (change) is the insertion of the word 'modest.' And that's been interpreted in a dovish fashion.

The business sector in Canada continues to grow at a moderate pace.

(The report is) a testament to the fact that the Canadian manufacturing sector continues to confront a wide spectrum of challenges, including elevated input prices and a muscular Canadian dollar.

It's hard to imagine that individual month-to-month figures are going to have much bearing.

The Bank of Canada may look closely at this number and sit up and think whether they should go further. There is a probability they may go beyond 4 percent.

The intent of that, in my view, is to say they are very cautious about looking forward. A rate hike should not be expected in the same vein that one was expected for today.

The Canadian economy is alive and well and will continue to grow. This will be near-term positive for the Canadian dollar.

The Canadian dollar has gone through the roof.

Inflation isn't out of hand anyway in Canada. The market may think the Bank of Canada will move less aggressively. It will be a surprise if the bank moves beyond 4 percent.

Clearly, many of these automakers are encountering pretty substantial troubles and I think it is going to be a tough time for both the workers and the companies going forward - we'll just have to see how rough it is.

I don't think there has been much of an impact at all from the election because, certainly a minority was expected, a minority was the outcome.

I don't think this is going to cause the Bank of Canada to differ in its ways. We still think 4 percent (overnight rate) is the likely peak for them.

The manufacturing sector continued to struggle. And in light of the sour business conditions survey ... that trend appears likely to continue.

The commodity play is a big part of the story there.