More Good News On The Canadian Inflation Front Inflation in Canada decelerated once again in July to its slowest pace in three years, assuring the central bank will cut rates for the third consecutive meeting on September 4. The US is also widely expected to begin easing monetary policy at its September confab. The annual […]

Canadian Housing Market Paused In July Despite the continued decline in interest rates, the Canadian housing market saw summer doldrums last month. The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.7% monthly while rising 4.8% from year-ago levels. A significant uptick in sales activity is likely this fall, reflecting both […]

Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play Canadian employment data, released today by Statistics Canada, showed a continued slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Employment declined again in July, down […]

Canadian Inflation Fell in June, Setting the Stage For BoC Rate Cut Inflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). The Consumer Price Index (CPI) rose 2.7% year over year […]

Early Signs Of Renewed Life In June Housing Markets The Canadian Real Estate Association (CREA) announced today that national home sales rose 3.7% between May and June following the Bank of Canada’s rate cut. While activity was still muted, it wasn’t nearly as weak as the media recently portrayed. “It wasn’t a ‘blow the doors […]

Early Signs Of Renewed Life In June Housing Markets The Canadian Real Estate Association (CREA) announced today that national home sales rose 3.7% between May and June following the Bank of Canada’s rate cut. While activity was still muted, it wasn’t nearly as weak as the media recently portrayed. “It wasn’t a ‘blow the doors […]

Weaker-Than-Expected June Jobs Report Keeps BoC Rate Cuts In Play Canadian employment data, released today by Statistics Canada, showed a marked slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Nevertheless, the Bank of Canada […]

Canadian Inflation Rose In May, Surprising Markets Inflation unexpectedly rose in May, disappointing the Bank of Canada as it deliberates the possibility of another rate cut next month. The Consumer Price Index (CPI) rose 2.9% in May from a year ago, up from a 2.7% reading in April. This increase primarily reflects higher prices for […]

May Was Another Sleepy Month For Housing The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.6% in May, remaining slightly below the average of the past ten years. Actual (not seasonally adjusted) monthly activity was 5.9% below May 2023. With the Bank of Canada rate cut on June 5, housing activity […]

A Collective Sigh of Relief As The BoC Cut Rates For the First Time in 27 Months Today, the Bank of Canada boosted consumer and business confidence by cutting the overnight rate by 25 bps to 4.75% and pledged to continue reducing the size of its balance sheet. The news came on the heels of […]