Inflationary pressures give the central bank greater impetus to maintain its trajectory, economist says Currently, there is no evidence that Canada’s core inflation rate is moderating despite the slowdown in housing and consumer spending, according to economist Sherry Cooper. The latest data from Statistics Canada showed that the annual inflation rate only had a minor drop from 7% in August […]
Bank of Canada Will Not Be Happy With This Inflation Report Canada’s headline inflation rate ticked down slightly last month to 6.9%, but measures of core inflation remain stubbornly high, and food prices hit a 41-year high. Lower gasoline prices were primarily responsible for the decline in inflation in the past three months. Bond markets sold off on the immediate […]
Orderly Housing Correction Continues There are many unusual aspects to the current housing correction, but fundamentally the most noteworthy is how orderly and non-chaotic it has been. Home sales have slowed, but so have new listings, so the price declines are more muted than we might have expected. This is not a housing collapse. It is a housing correction. We’ve […]
Labour market strength was readily apparent across the major North American economies Canada’s labour market performance in September is strong enough to keep the central bank on its hawkish rate-hike path, according to economist Sherry Cooper. The market saw the addition of approximately 21,000 jobs last month, with increases in both full-time and part-time work. Wage rates also increased by […]
Tight Labour Market Fuels Higher Wages Today’s Labour Force Survey showed that employment grew in September for the first time in four months. Job gains remained moderate despite the high number of vacancies, indicating how tight the job market remains. Wage rates rose 5.2% year-over-year (y/y), the fourth consecutive month for which wage gains exceeded 5%. The jobless rate ticked […]