18 Dec

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

General

Posted by: Tim Woolnough

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 […]

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18 Dec

Fall Economic Statement Delivered Despite Chrystia Freeland’s Resignation

General

Posted by: Tim Woolnough

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. […]

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18 Dec

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

General

Posted by: Tim Woolnough

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 […]

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19 Nov

Canadian Inflation increased to 2.0% y/y in October–up from 1.6% in September owing to a smaller decline in gasoline prices

General

Posted by: Tim Woolnough

October Inflation Rose to 2.0% As Gasoline Price Declines Were More Muted   The Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September. Gasoline prices fell to a lesser extent in October (-4.0%) compared with September (-10.7%). The all-items CPI, excluding gasoline, rose 2.2% in October, the same […]

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18 Nov

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

General

Posted by: Tim Woolnough

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 […]

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12 Nov

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

General

Posted by: Tim Woolnough

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 […]

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23 Oct

Jumbo Rate Cut by the Bank of Canada!

General

Posted by: Tim Woolnough

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 […]

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