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Posted by: Adriaan Driessen
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 growth […]
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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 broadly […]
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The Bank of Canada cut the overnight policy rate for the fourth time this year, but this time by a whopping 50 bps. View this email in your browser 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 […]
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Homebuyers Cautious As New Listings Surge In April The Canadian Real Estate Association (CREA) announced today that national home sales dipped in April 2024 from its prior month, as the number of properties available for sale rose sharply to kick off the spring housing market. Home sales activity recorded over Canadian MLS® Systems fell […]
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The Bank of Canada Holds Rates Steady Until Core Inflation Falls Further Today (March 6, 2024), the Bank of Canada held the overnight rate at 5% for the fifth consecutive meeting and pledged to continue normalizing the Bank’s balance sheet. Policymakers remain concerned about risks to the outlook for inflation. The latest data […]
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Canadian March Home Sales Posted Their Biggest Decline Since June Statistics released today by the Canadian Real Estate Association (CREA) show that rising interest rates were already dampening housing activity well before the Bank of Canada’s jumbo spike in the key policy rate in mid-April. National home sales fell back by 5.4% on a month-over-month […]
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Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be followed by the US Federal Reserve next month. […]
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Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be coming. This is the first rate hike since 2018. In a cautious […]
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Housing affordability remains a huge political issue, and with the Department of Finance working on the upcoming budget, no doubt measures to reduce home prices will be front and center. With an election coming this spring in Ontario, Premier Ford’s Housing Affordability Task Force has made recommendations to step up homebuilding. Still, Ontario’s mayors are […]
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The CPI rose 5.1% from year-ago levels in January, driven by higher gasoline and car prices. Published by Sherry Cooper February 16, 2022 StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected […]
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