The Bank of Canada on Wednesday reiterated its intention to maintain an accommodative monetary policy stance as the economy continues to recover and as financial conditions remain one standard deviation above neutral. As it has for the past 16 months, the central bank is keeping its policy rate at near ... READ MORE >
Canada
North American housing markets remain bullish
In spite of the pandemic, the U.S. and Canadian housing markets have seen significant growth over the past year as individuals and families stuck in apartments were driven to the suburbs in search of bigger homes with space to live, work and play. In addition to a rise in demand for single-family housing, ... READ MORE >
3 things to know in energy: China fuel tax, crypto mining, LNG outlook
Biweekly, we highlight three things going on in the energy industry that we think you should know about. This week, we take a look at a new tax on blending fuels in China, how natural gas production plays into cryptocurrency mining, and the shifting outlook for liquefied natural gas production. Here’s the ... READ MORE >
3 things to know this week in energy: Major cyberattack, oil deals, pipeline permits
Biweekly, we highlight three things going on in the energy industry that we think you should know about. This week’s top item is the Colonial Pipeline ransomware attack. Plus, we look at oilfield deal announcements and tensions around a pipeline that runs across Wisconsin and Michigan to Ontario. Here’s ... READ MORE >
RSM Canada Financial Conditions Index: Bank of Canada providing global leadership
The next Bank of Canada monetary policy decision is three weeks away, and is coming at a time when talk is focused on when central banks will tighten their accommodative policies prompted by the global health crisis. The global economy is off to a better start than expected this year, prompting ... READ MORE >
3 things to know in energy: Sustainable financing, emissions goals, Exxon’s carbon storage project
Biweekly, we highlight three things going on in the energy industry that we think you should know about. Efforts around environmental, social and governance issues are a major theme in this week’s roundup. Here’s the latest. 1. The rise of ESG and sustainable financing Financial institutions are facing ... READ MORE >
Global economy to expand by 6% as vaccinations accelerate
The events that shook the global economy to its core last year—policy errors and a pandemic occurring at the end of a decade-long business cycle—finally appear to be bottoming out. Although those events are still running their course, the rapid response by the scientific community and by ... READ MORE >
Globalization and the failure of the Super League
The collapse of the European Super League on Tuesday, less than 48 hours after it was announced, should provide a valuable lesson for those who support the movement of ideas, capital and people across borders to expand opportunity and prosperity. Not everything needs to be globalized, and when ... READ MORE >
Bank of Canada policy decision: Tapering bond purchases by $3 billion a week
An improved economic outlook and growing confidence among central bankers have created the conditions in which the Bank of Canada is now comfortable paring back the pace of bond purchases by $3 billion per week. The central bank’s announcement on Wednesday represents a slowing in the pace of ... READ MORE >
CHART OF THE DAY: A resurgent pandemic in Canada
Canada reached a grim milestone in early April, passing one million cumulative cases of COVID-19 infections. More than 8,760 new cases are being reported each day as this latest surge of infections closes in on the levels of the post-holiday second wave. If the current breakout is not quickly ... READ MORE >