22 Jan

Strongest Canadian Employment Report In Nearly Two Years

General

Posted by: Liz Fraser

Stronger-Than-Expected Jobs Report in December Today’s Labour Force Survey for December was much stronger than expected, as many thought the Canada Post strike would have a larger impact. Employment rose by 90,900 net new jobs last month, and the employment rate—the proportion of the population aged 15 and older who are employed— increased by 0.2 percentage points […]

Read More
22 Jan

Canadian Headline Inflation Was 1.9% y/y With Monthly Inflation Unchanged

General

Posted by: Liz Fraser

Good News On The Inflation Front The Consumer Price Index (CPI) rose 1.9% year-over-year (y/y) in November, down from a 2.0% increase in October. Slower price growth was broad-based, with prices for travel tours and the mortgage interest cost index contributing the most to the deceleration. Excluding gasoline, the all-items CPI rose 2.0% in November, following a 2.2% gain in […]

Read More
22 Jan

Fall Economic Statement Delivered Despite Chrystia Freeland’s Resignation

General

Posted by: Liz Fraser

Chrystia Freeland Resigns On The Day of The Fall Economic Statement Finance Minister Freeland rocked markets today by submitting her resignation from Cabinet. Trudeau had asked her to take another Cabinet post, but she declined in a scathing letter accusing Trudeau of “costly political gimmicks” like “bribe-us-with-our-own-money cheques for $250 and a two-month GST holiday. “Inevitably, […]

Read More
22 Jan

The Bank of Canada Cuts Its Policy Rate By Another 50 Basis Points

General

Posted by: Liz Fraser

The Surge In Canadian Unemployment Keeps Another Jumbo Rate Cut In Play In December The BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.25%. The market had priced in nearly 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and a sharp rise […]

Read More
22 Jan

November Jobless Rate Surges to 6.8% in Canada Despite Strong Jobs Growth

General

Posted by: Liz Fraser

The Surge In Canadian Unemployment Keeps Another Jumbo Rate Cut In Play In December Before the release of today’s Canadian Labour Force Data, the odds favoured a 25 basis point drop in the overnight policy rate when the Bank of Canada meets again on December 11th. The data showed more substantial than expected job creation, […]

Read More
23 Nov

Canadian Home Sales Surge in October Led by the GVA and GTA

General

Posted by: Liz Fraser

The Canadian Housing Market Shows Signs of Life Canadian home sales surged to their highest level in more than two years as the Bank of Canada cut interest rates, bringing buyers back into the market. Home sales rose 7.7% month-over-month (m/m) in October, reaching their highest level since April 2022. Rising home sales were broadly […]

Read More
23 Nov

Canadian Weak Job Gains in October Keeps Jumbo Rate Cut In Play

General

Posted by: Liz Fraser

Weaker-Than-Expected October Jobs Report Keeps Jumbo Rate Cut In-Play in December Statistics Canada released October employment data today. The data showed a marked slowdown in job growth, underscoring ongoing labour-market softness that triggered a jumbo rate cut last month. Statistics Canada said the country added 14,500 positions in October, which missed the median expectation of a 27,200 rise […]

Read More
23 Oct

Jumbo Rate Cut by the Bank of Canada

General

Posted by: Liz Fraser

Bank of Canada Cuts Policy Rate By 50 BPs After three consecutive 25 bp rate cuts, the BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.75%. The market had priced in 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and back-to-back weak inflation […]

Read More
19 Oct

Stronger Than Expected Canadian Jobs Report for September Reduces the Chances of a 50-bp Rate Cut on October 23

General

Posted by: Liz Fraser

Stronger-Than-Expected September Jobs Report Reduces Prospect Of Larger Rate Cuts Statistics Canada released September employment data today, showing a marked uptick in job growth and the first decline in the unemployment rate this year. Employment rose by 46,700 in September, following four months of little change. Despite the employment gain, the employment rate—the proportion of the […]

Read More