The Canadian Economy
Posted on Mar 09, 2023 in Economics
Economic Insights from Dr. Sherry Cooper
The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.
That is welcome news for homeowners with adjustable-rate mortg...
That is welcome news for homeowners with adjustable-rate mortg...
Bank of Canada Interest Rate Announcement -March 8, 2023
Posted on Mar 08, 2023 in Economics
Bank of Canada Interest Rate Announcement
As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of...
Canadian GDP Update
Posted on Mar 01, 2023 in Economics
Canadian Monthly Economic Growth (Q4'2022)
Canadian real GDP declined 0.1 percent in December, the first monthly decline since January of 2022. The decline in GDP was concentrated among goods-producing industries (-0.6 percent) while services were flat. Canadian real GDP is now roughly 2.7 percent above its pre-pandemic, February 2020 level. Prelimi...
Canadian Retail Sales Increase
Posted on Feb 21, 2023 in Economics
Canadian Retail Sales (December 2022)
Canadian seasonally-adjusted retail sales rose 0.5 percent in December to $62.1 billion. Sales rose in 7 of 11 subsectors but were led by higher sales at motor vehicle and parts dealers (+3.8 percent) and general merchandise stores (+1.7 percent). Core retail sales, which strips out gasoline and motor vehicle an...
Canadian Housing Market Remains Weak
Posted on Feb 15, 2023 in Economics
December Housing Data Ended 2022 on a Weak Note
The Canadian Real Estate Association says home sales in January were the lowest for the month since 2009 and fell 37.1% from a year ago. The Canadian housing market has been sliding for eleven consecutive months as the unprecedented rise in interest rates--up from 25 basis points to 4.5% for the policy...
Canadian Real GDP Growth - November 2022
Posted on Jan 31, 2023 in Economics
Canadian Monthly Real GDP Growth
The Canadian economy grew 0.1 percent in November, matching the rate of growth in October. In contrast to the pandemic economy of the previous two years, the services sector is now leading the economy while goods-producing sectors struggle. Overall, growth was fairly broad-based with 14 of 20 Canadian industrial sec...
