Report published August 28, 2026
Scotiabank Daily Points: Jackson Hole Preview, Canadian GDP Rebound & Global Macro Trends
Source and citation context
- Issuer
- Scotiabank
- Report date
- August 28, 2026
- Analysis as of
- Not stated in source
Authors / editors: Derek Holt
Finvaulta summarizes Scotiabank's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Markets are trading flat ahead of Fed Chair Warsh's Jackson Hole address and BLS payroll revisions. Meanwhile, Canada anticipates a strong Q2 GDP print (4.0% annualized), Tokyo CPI reinforces expectations of a September BoJ rate hike, and US-Canada trade tensions remain in focus.
Key Takeaways
- 1.Global markets are in a holding pattern awaiting Fed Chair Warsh's address at Jackson Hole, with recent soft US inflation and labour data arguing against an incrementally hawkish tone.
- 2.Canadian Q2 GDP is projected to rebound strongly to 4.0% q/q SAAR (consensus 3.4%), potentially positioning Canada as the fastest growing economy in the G7.
- 3.Tokyo's core CPI rose to 3.7% m/m SAAR in August, supporting expectations for a Bank of Japan interest rate hike at its September 18 meeting.
Table of Contents
- On Deck for Friday, August 28th
- KEY POINTS:
- JACKSON HOLE—WHAT WILL WARSH SAY?
- NONFARM PAYROLL REVISIONS DUE AT THE SAME TIME THAT WARSH SPEAKS
- CANADA'S ECONOMY IS EXPECTED TO REBOUND
- EUROZONE CPI—NEED MORE COUNTRIES
- TOKYO CPI SUPPORTS BOJ TIGHTENING IN SEPTEMBER
- TRADE WAR TIDBITS
- UNINTENDED RENAMING CONSEQUENCES
Report data
On Deck for Friday, August 28th
| Metric | Estimate | Context |
|---|---|---|
| Canada Real GDP Growth | 4.0 % q/q SAAR | Scotiabank forecast for Q2 expenditure-based GDP growth. |
| US Nonfarm Payroll Benchmarking Revision | 300 k | Scotia's house estimate for the BLS preliminary benchmark revision to March 2026 payrolls. |
| Tokyo Core CPI | 3.7 % m/m SAAR | Core inflation reading supporting a potential BoJ September rate hike. |
| France CPI Inflation | 2.7 % y/y | French CPI year-over-year rate rising from 2.4% prior. |
Reports in this series
Daily Points is shown in chronological order through this edition, published on August 28, 2026.
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Authors / Editors
Reported Data Context
- Canada Real GDP Growth: 4.0 % q/q SAAR (Q2 2026) · Source: Scotiabank Economics
- US Nonfarm Payroll Benchmarking Revision: 300 k (April 2025 to March 2026) · Source: BLS
- Tokyo Core CPI: 3.7 % m/m SAAR (August 2026) · Source: Ministry of Internal Affairs and Communications
- France CPI Inflation: 2.7 % y/y (August 2026) · Source: INSEE National Statistics Office of France