Vital Spring Housing Market Bodes Well For The Economy The Canadian Real Estate Association says home sales in April surged 11.3% month-over-month. The Spring rebound was on the heels of smaller back-to-back gains in the prior two months. Now that the Bank of Canada paused interest rate hikes and home prices in most regions have softened, homebuyers are scrambling for […]
High Interest Rates Have Not Slowed the Labour Market Sufficiently The Canadian labour market has done it again, blowing past expectations for the fifth straight month. In April, a whopping 41,400 new jobs were added, more than double what economists predicted. Since February, monthly employment growth has averaged 33,000, following cumulative increases of 219,000 in December 2022 and January 2023. The employment rate—the share of the population […]
Weakening Housing Markets Pose A Risk For The Canadian Economy On April 18, Canada’s national banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), released its second Annual Risk Outlook (ARO), outlining what it believes are the most significant headwinds facing the Canadian financial system – and what the regulator plans on doing about it. According to the report, the […]
Great News On The Inflation Front The Consumer Price Index (CPI) fell sharply in March to 4.3% year-over-year, continuing a pattern of repeated declines. Before we break out the champagne, however, much of the drop in inflation resulted from the steep monthly increase in prices in March one year ago (1.4% m/m), the so-called base-year effects. Gasoline prices have fallen […]