Chief Economist

6 Dec 2017

No Surprises from the Bank of Canada

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Holds Steady–Will Raise Rates Only Cautiously The Bank of Canada held overnight interest rates at 1.0% once again, following the two consecutive rate hikes at the July and September meetings. It was widely expected that the Bank would retake a breather this round despite the much stronger than expected November employment report and the recent Read More

1 Dec 2017

Incredibly Strong Jobs Report in November, Q3 GDP Growth Slowed On Weak Exports and Housing

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The highly anticipated November Labour Force Survey, released this morning by Stats Canada, surpassed all forecasts breaking multi-year records. Employers added a whopping 79,500 jobs last month, bringing the gains over the past 12 months to nearly 400,000. November’s data posted the most robust job market since the 2008-09 recession as the jobless rate plunged Read More

15 Nov 2017

Housing Is No Longer A Canadian Growth Leader

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Various levels of Canadian government and regulatory authorities have repeatedly introduced measures to slow housing since 2008 in response to concerns about the record level of household debt. To be sure, there is a swath of Canadian households that are over-extended, and they get the lions share of the attention. Just this week, Evan Siddall, Read More

3 Nov 2017

25 Oct 2017

Bank of Canada On Sidelines, As Expected

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

BOC Will Raise Rates Only Cautiously The Bank of Canada held overnight interest rates at 1.0% following two consecutive rate hikes at the July and September meetings. It was widely expected that the Bank would take a breather this round. The central bank also released its quarterly Monetary Policy Report (MPR) today, in which it Read More

24 Oct 2017

18 Oct 2017

Canadian Housing Activity Stabilizes Well Below Peak Levels

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

According to the Canadian Real Estate Association (CREA), national home sales in September rose modestly from the previous month but remained below levels recorded one year ago. Resale activity was 12% below the record set in March, before the April announcement of a 15% foreign buyers’ tax and a sixteen-point program to enhance housing affordability Read More

6 Oct 2017

Wages Growth Accelerates as Canada Adds Jobs For the 10th Straight Month

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

While the headline net jobs gain was a disappointing 10,000–well below the average monthly increase in the past year–the underlying data in this morning’s StatsCanada release were quite robust. The jobless rate remained unchanged at 6.2 per cent as the acceleration in wage gains suggests that the economy is close to full employment. Average hourly Read More

29 Sep 2017

Booming Growth In Canada Takes A Breather

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canada’s second-quarter gross domestic product (GDP) growth of 4.5 per cent triggered two back-to-back rate hikes by the Bank of Canada. But today, Statistics Canada released data showing a slowdown in the monthly industry data for July. Canadian GDP held steady in July ending an eight-month streak of cosmic expansion. This slowing is consistent with Read More

20 Sep 2017

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