Canadian Housing Starts (August 2021)
Posted on Sep 16, 2021 in Economics
Canadian housing starts declined for the third consecutive month in August, but remain elevated by historical standards. Housing starts decreased by 10.5k to 260.2k units (-3.9% m/m) in August at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were roughly unchanged from August of 2020 (-0.5% y/y). Single-detached housing...Annual Inflation In August Rises to 4.1% in Canada--But Are We Close To The Peak?
Posted on Sep 16, 2021 in Economics
Today's release of the August Consumer Price Index (CPI) for Canada posted another uptick in the year-over-year (y/y) inflation rate, but hidden in the details was some support for the Bank of Canada's position that the spike in inflation is transitory. The Bank has long suggested that the rise in prices will prove to be the result of base effects...Canadian Employment (August 2021)
Posted on Sep 15, 2021 in Economics
Canadian employment grew for the third consecutive month in August, rising by 90,000 to 18.97 million (0.5%, m/m). Most Canadian jurisdictions had fully implemented public health reopening plans by the time Statistics Canada conducted surveys, while tourists from the United States were allowed to enter Canada without quarantining for the first time...Bank of Canada - Interest Rate Announcement
Posted on Apr 22, 2021 in Economics
Today, the Bank of Canada held its target for the overnight rate at the effective lower bound of ¼ percent. The Bank is also adjusting its bond-buying program from weekly net purchases of Government of Canada (GoC) bonds of $4 billion to $3 billion. This adjustment to the amount of incremental stimulus being added each week reflects the progress ma...Federal Budget 2021
Posted on Apr 21, 2021 in Economics
In more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” for workers and struggling businesses another few months as it aims to pull Canada through the pandemic once and for all. Clocking in at a bulky 724 pages, this is a highly detailed budget that sets the stage for post-pandemic policy in Canada.Finance Minister Chr...
Canadian Housing Starts (March 2021)
Posted on Apr 19, 2021 in Economics
Canadian housing starts increased 21.6% m/m to 335,200k units in March at a seasonally adjusted annual rate (SAAR), after declining in February. Building activity was up month-over-month in both multi-unit (+34%) and single-detached (+4%) segments. On a year-over-year basis, starts were up 70%, though this measure will become quite distorted by bas...