The Bank of Canada increased its policy rate by 75 basis points on Wednesday, bringing the overnight rate to 3.25%, and said that it would continue to reduce its balance sheet. … READ MORE >
Canada
Housing proved a drag on Canada’s economy in the second quarter
Canada’s real gross domestic product rose by 0.1% in June from May amid a slumping housing sector, and by 3.3% overall for the second quarter. … READ MORE >
After a strong recovery in Canada, economic headwinds set in
The Canadian economy has had a year of robust recovery, but now that growth is slowing as economic headwinds set in. … READ MORE >
Immigration is key to solving Canada’s labour shortage
Canada cannot solve its chronic shortage of workers through natural growth. It needs a policy of robust immigration. … READ MORE >
Inflation eases amid falling gasoline prices
After a year of consecutive increases, inflation has finally begun to ease, hitting 7.6% on a year-over-year in July amid declining gasoline prices. Compared to June, inflation went up by a modest 0.1%. Nonetheless, most measures of core inflation increased, which means inflation remains pervasive across all aspects of life and not just concentrated in a few categories such as gasoline and food. … READ MORE >
Canada’s jobs fall in July as unemployment rate remains steady
Canada’s economy shed 31,000 jobs in July while the unemployment rate remained at a historic low of 4.9%, confirming what the strong gross domestic product numbers have been showing: The economy is not in recession. … READ MORE >
Canada’s GDP steady as spending on services remained strong in May
Friday’s data for Canada comes just a day after reports that the U.S. economy recorded its second consecutive quarter of negative GDP growth, … READ MORE >
RSM Canada Supply Chain Index turns positive amid slowing economy
The RSM Canada Supply Chain Index turned positive for the first time since February 2020. … READ MORE >
Canada inflation hits 8.1% but shows signs of softening
Inflation reached 8.1% in June in Canada, the highest since January 1983, although the pace of the increase eased compared to previous months. … READ MORE >
Canadian housing starts fall slightly in a sign of possible cooling
Housing starts in Canada fell to 273,800 in May, a 3% drop from April. … READ MORE >