2 Apr

Canadian Employment Gains Stronger than Expected in November 2023, While Unemployment Rose and Hours Worked Fell, Dec 1st 2023

General

Posted by: Liz Fraser

Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate Employment Today’s StatsCanada Labour Force Survey for November was a mixed bag. Total employment gains were stronger than expected. However, the rising unemployment rate and drop in hours worked were signs of mounting economic weakness, especially in the financial and real estate sectors. […]

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2 Apr

Canadian Inflation Fell to 3.1% (y/y) In October, Ensuring the BoC Holds Rates Steady, Nov 21, 2023

General

Posted by: Liz Fraser

Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in September. There were no surprises here, so markets moved little on the news. Excluding […]

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2 Apr

Home Sales Plummet In October by Dr Sherry Cooper, Nov 15th 2023

Mortgage Tips

Posted by: Liz Fraser

Home Sales Plummet In October Housing affordability is the number-one issue causing the significant decline in housing activity, adding to PM Justin Trudeau’s political problems. With the growing impact of unaffordable housing and the slowing labour market, activity in the real estate market should remain subdued for the rest of this year. Home sales dropped 5.6% month-over-month […]

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24 Nov

Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The Table by Dr Sherry Cooper

General

Posted by: Liz Fraser

Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The Table Today’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%), […]

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3 Nov

Hawkish Hold By The Bank of Canada by Dr Sherry Cooper

General

Posted by: Liz Fraser

Hawkish Hold By The Bank of Canada The Bank of Canada today held its target for the overnight rate at 5%, as was widely expected. The central bank continues to normalize its balance sheet through quantitative tightening, reducing its Government of Canada bonds holdings. The Monetary Policy Report (MPR) detailed a slowdown in global economic growth […]

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22 Oct

Another Strong Jobs Report Tests BoC’s Patience by Dr Sherry

General

Posted by: Liz Fraser

Another Strong Jobs Report Tests BoC’s Patience Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall employment were in part-time work, and total hours worked declined by 0.2%.  Moreover, the unemployment rate held steady for the […]

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21 Oct

August Inflation Hotter Than Expected by Dr Sherry Cooper

General

Posted by: Liz Fraser

August Inflation Hotter Than Expected Canada’s inflation rate accelerated more than expected for the second consecutive month, mainly driven by higher gasoline prices. This will not be a one-month wonder as gasoline prices rose further in September. The consumer price index increased 4.0% in August from one year ago, the fastest pace since April, after a […]

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