Economic Insights.

Dr. Cooper is Dominion Lending Centre's Chief Economist who helps Canadians understand the issues surrounding their most important financial decision – buying a home.

Canadian inflation fell to 1.6% y/y in September, the smallest yearly increase since 2021.

October 15, 2024

More Good News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 1.6% year over year in September, the slowest pace since February 2021 and down from a 2.0% gain in August 2024. The main contributor to headline deceleration was lower year-over-year gasoline prices in September (-10.7%) compared with August (-5.1%). The all-items CPI, excluding gasoline, rose 2.2% in September, […]

Stronger than expected Canadian jobs report for September reduces the chances of a 50-bp rate cut on October 23

October 15, 2024

Stronger-Than-Expected September Jobs Report Reduces Prospect Of Larger Rate Cuts Statistics Canada released September employment data today, showing a marked uptick in job growth and the first decline in the unemployment rate this year. Employment rose by 46,700 in September, following four months of little change. Despite the employment gain, the employment rate—the proportion of the population aged 15 and older who is […]

Great News On the Canadian Inflation Front in August

September 17, 2024

More Good News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 2.0% year over year in August, the slowest pace since February 2021, and down from a 2.5% gain in July 2024. Core inflation measures averaged 2.35% y/y and excluding mortgage interest, headline inflation was a mere 1.2%–well below the Bank’s target inflation level of 2.0%. This opens the door for […]

August Housing Activity Flat Despite Rate Cuts

September 16, 2024

Canadian Housing Market Stuck In A Holding Pattern National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another slight gain in August on the heels of the second rate cut in late July. Still, the bigger picture appears to be a market mostly stuck in a holding pattern. Home […]

Weak Canadian Labour Force Survey Sets The Stage For Further Rate Cuts

September 6, 2024

Weaker-Than-Expected August Jobs Report Raises Prospect Of Larger Rate Cuts Statistics Canada released August employment data today, showing continued growth in excess supply in labour markets nationwide. Employment changed little last month, up 22,100. The employment rate—the proportion of the population aged 15 and older who are employed—decreased a tick to 60.8%, marking the fourth consecutive monthly decline and the 10th decline […]