Canada’s Consumer Price Index increased by 4% on an annual basis in August, far exceeding the central bank’s 2% target. … READ MORE >
Bank of Canada
Soft landing likely as Canada added 40,000 jobs in August
A look at August’s job report reveals clear signs of a soft landing. Canada added 40,000 jobs, smashing expectations, and offset the modest loss in July many times over. The unemployment rate was unchanged at 5.5%. Immigration has played a vital part in keeping the economy buoyant as job growth was led by population growth. … READ MORE >
Bank of Canada holds rates steady amid a cooling economy
The central bank’s decision to keep rates steady also suggested that its campaign of rate increases might be over, rendering a rate peak of 5%. … READ MORE >
Canada’s economy contracts as higher interest rates take a toll
Gross domestic product fell by 0.2% in the second quarter, according to data released by Statistics Canada on Friday. On a monthly basis, GDP fell by 0.2% in June after a 0.2% increase in May. … READ MORE >
Canada retail sales edge higher, bolstered by car purchases
Retail sales in Canada climbed by 0.1% to $65.9 billion in June, with all of the gain attributed to higher sales of motor vehicles and parts. … READ MORE >
Canadian inflation ticks up but underlying data may bode well for interest rates
Canada’s July inflation figures are a somber reminder that the road back to 2% will take time and patience. … READ MORE >
Canada’s job market slows as unemployment rate hits 5.5%
Canada’s unemployment rate rose to 5.5%, the third consecutive increase for the first time since March 2020, the onset of the pandemic. … READ MORE >
Canada added 41,400 jobs in April amid resilient labor market
The strong jobs report should get the attention of the Bank of Canada as it weighs its next move in June. … READ MORE >
Canadian recession tracker: Preparing for landing
A recession, albeit mild and brief, is most likely on the horizon. Our forecast puts the chance of a recession at 60% by the middle of the year, with the downturn hitting the economy unevenly. … READ MORE >
Tighter financial conditions threaten Canada’s growth
The RSM Canada Financial Conditions Index remains at 1.4 standard deviations below normal, indicating that greater risk than normal is being priced into financial assets. … READ MORE >