The Canadian Housing Market Strengthens Further Home sales activity recorded over Canadian MLS® Systems rose again in November, building on October’s surprise jump. Sales were up 2.8% m/m in November compared to October and now stand a cumulative 18.4% above where they were in May, just before the first interest rate cut in early June. Actual (not seasonally adjusted) monthly […]
Bank of Canada Cuts Policy Rate By 50 BPs Again The BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.25%. The market had priced in nearly 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and a sharp rise in the Canadian unemployment rate to 6.8% triggered the […]
L’augmentation du chômage au Canada fait qu’une nouvelle forte baisse de taux d’intérêt reste possible en décembre Avant la publication des données d’aujourd’hui sur le travail au Canada, il paraissait probable que la Banque du Canada baisse le taux directeur de 25 points de base à sa réunion du 11 décembre. Les données révèlent une création d’emplois plus importante que prévu, le […]
The Surge In Canadian Unemployment Keeps Another Jumbo Rate Cut In Play In December Before the release of today’s Canadian Labour Force Data, the odds favoured a 25 basis point drop in the overnight policy rate when the Bank of Canada meets again on December 11th. The data showed more substantial than expected job creation, as the country added 51,000 […]