Food and housing remain primary drivers of inflation. On a year-over-year basis, mortgage interest costs spiked by a whopping 29.7%—the largest contributor to inflation. … READ MORE >
Tu Nguyen
Bank of Canada holds at 5% as excess demand is stomped out
With the economy having contracted in the third quarter, the Bank of Canada on Wednesday shifted its tone on monetary policy from hawkish to neutral as it held its policy rate steady at 5 per cent. … READ MORE >
Canada’s unemployment rises to 5.8%, adding to case for rate cuts
Together with the weak third-quarter gross domestic product report on Thursday, November’s jobs data shifts the Bank of Canada’s focus from rate hikes to rate cuts. … READ MORE >
Canada’s economy contracted more than expected, suggesting a pivot on rates
Canada’s gross domestic product declined by 0.3 per cent in the third quarter and by 1.1 per cent on an annualized basis. … READ MORE >
As Canada pledges to restrain spending, it confronts a housing crisis
In its Fall Economic Statement, Canada pledged to bring spending under control, while at the same time announcing initiatives to ease the shortage of housing. … READ MORE >
Canada sees disinflation as gasoline prices ease
Inflation fell to 3.1% on a year-over-year basis, according to Statistics Canada on Tuesday. On a monthly basis, prices fell by 0.1%. … READ MORE >
Canada’s unemployment rate rises to 5.7% as hiring slows
The Canadian economy added 18,000 jobs in October, down from a gain of 63,800 in September, as the unemployment rate rose by 0.2% to 5.7%. … READ MORE >
Canada continues to bet on immigration to boost growth
For the Canadian economy, the benefits of immigration far outweigh the costs. By not slashing targets, Canada ensures that the labour supply will continue to grow. … READ MORE >
Bank of Canada holds at 5% as growth outlook softens
The Bank of Canada held its overnight rate at 5% on Wednesday and will continue its policy of quantitative tightening. … READ MORE >
Canada’s inflation had broad-based deceleration in September
Canada’s headline inflation rate declined to 3.8% in September from 4.0% in August, reversing the upward trend of the past three months and offering good news to households and the Bank of Canada. … READ MORE >