Bank of Canada Holds Policy Rate Steady Today, the Bank of Canada held the policy rate steady at 2.25%. This is the bottom of the Bank’s estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. With inflation hovering just above 2% and core inflation between 2.5% and 3%, the Governing Council sees the current overnight […]
Strong Canadian Job Growth Drove the Unemployment Rate Down to 6.5% Today’s Labour Force Survey for November blew past expectations for the third consecutive month. The Canadian economy added 53,600 jobs in November, marking the third straight month of unexpectedly strong gains amid US tariffs that otherwise slowed activity. Employment rose by an impressive 180,000 since September, marking the strongest three-month period […]
Signs of Improvement in Canadian Housing Activity Today’s release of October housing data by the Canadian Real Estate Association (CREA) showed the national housing market bounced back, with sales and prices rising. Buyers benefited from the interest rate cuts this year. The number of home sales recorded over Canadian MLS® Systems edged up 0.9% on a month-over-month basis in October […]
Canadian Inflation Slows in October, But Not Enough to Trigger Another BoC Rate Cut in December The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in October, down from 2.4% in September. The all-items CPI decelerated largely due to gasoline prices, which fell at a faster year-over-year pace in October (-9.4%) than in September (-4.1%). Excluding gasoline, the CPI rose 2.6% in October, matching the […]