• MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert
  • All
  • COVID-19
  • Finance
  • Housing Market

Published by Sherry Cooper

April 6, 2023

Bank of Canada Not Happy With Another Strong Jobs Report.

This morning’s Jobs Report was again solid. Job creation, though more tempered than in earlier months, is still robust. The unemployment rate remained at 5.0% for the fourth consecutive month. Very troubling to the Bank of Canada was the wage inflation, still above 5%.

No doubt the Bank does not welcome this news. But the jobs market is a lagging indicator, so the BoC will likely continue the pause on April 12th. DLC will host another In Conversation on that date with President, Eddy Cocciollo, and myself.

The economy will report about 1.5% GDP growth in Q1–up from zero growth at the end of last year. Consumer spending remains strong, and the early indications suggest that the housing market is picking up and prices are rising on limited supply. As the year progresses, supply shortages will become more evident, and rent will increase sharply, making ownership more attractive.

All eyes will be on OSFI mid-month when the comment period on new initiatives end. The Department of Finance wants banks to ease credit conditions, especially for VRM borrowers now running negative amortization. OSFI has different ideas, especially with a mini banking crisis in the US and Switzerland.

Please Note: The source of this article is from SherryCooper.com/category/articles/

Share this:
Categories: Finance

Recommended articles.

View More

Canadian headline inflation fell to 1.7% y/y in April owing to end of carbon tax and falling energy prices.

May 20, 2025

Today’s Inflation Report Poses a Conundrum for the Bank of Canada The headline inflation report for April showed a marked slowdown in the Consumer Price Index (CPI), which rose a mere […]

Read More

Canadian National Home Sales Unchanged In April As New Listings and Home Prices Fall

May 15, 2025

Global Tariff Uncertainty Sidelines Buyers Canadian existing home sales were unchanged last month as tariff concerns again mothballed home-buying intentions, mainly in the GTA and GVA where sales have declined […]

Read More

Weak Canadian Jobs Report for April As Tariffs Hit Manufacturing

May 9, 2025

Manufacturing Employment Plunged as Tariffs Weakened the Economy Today’s Labour Force Survey for April showed a marked adverse impact of tariffs on the Canadian economy. Early evidence suggests that the […]

Read More

In Conversation with Dr. Sherry Cooper (April 2025)

April 17, 2025

Dr. Sherry Cooper joined Dominion Lending Centres and DLCG Mortgage Group President, Eddy Cocciollo, for In Conversation to discuss the latest updates from the Bank of Canada as of April 16, 2025

Read More

The Bank of Canada holds rates steady in the face of tariff uncertainty

April 16, 2025

Bank of Canada Holds Rates Steady In The Face Of Tariff Uncertainty–More Rate Cuts Coming The Bank of Canada held its benchmark interest rate unchanged at 2.75% at today’s meeting, […]

Read More
  • Find an Expert
  • Home
  • Mortgage Prep
  • Buying a Home
  • Renewal
  • Commercial
  • Rates & Lenders
  • More Value
  • Economic Insights
  • Our House Blog
  • MMT App
  • Careers
  • Contact
  • French
  • Find an Expert

© 2025 Dominion Lending Centres Inc. All rights reserved. Privacy Policy Terms & Conditions