It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack despite strong employment growth and inflation remains below the 2 percent target. The policy statement highlighted that that “uncertainty about the global outlook is…Read More
This morning, the Canadian Real Estate Association (CREA) released its December national real estate statistics showing home sales rose 2.2% month-over-month in the final month of last year. This rebound retraced less than half of the decline in November, when it posted the largest monthly decline in more than four years in response to the…Read More
December’s jobs report was unambiguously strong showing employment gains of 53,700 (0.3%), the result of gains in full-time work. Finally, for the first time this year, full-time jobs outpaced part-time. The unemployment rate increased 0.1 percentage points to 6.9% as more people entered the labour force. This is evidence that the economy may be absorbing…Read More
In a move to help BC citizens and residents buy their first home, the BC government announced today that it is launching a new program to augment down payments for first-time buyers. The B.C. Home Owner Mortgage and Equity Partnership program contributes to the amount first-time homebuyers have already saved for their down payment, providing…Read More
This morning, the Canadian Real Estate Association (CREA) released its national real estate statistics for November showing the largest monthly decline in activity since August 2012. The number of home resales now stands at its lowest level since September 2015. Activity was down on a month-over-month basis in about two-thirds of all local markets, including…Read More
Rarely has there been a more widely expected result as today’s 0.25 percent rate hike by the Fed. This is the second interest rate increase since the Fed started the current process of interest rate re-normalization one year ago. Although, many had called for additional hikes earlier this year, the policy makers held the overnight…Read More
It is no surprise to anyone that the Bank of Canada maintained its target overnight rate at 1/2 percent today, judging that although the global economy has strengthened, uncertainty continues and is damaging business confidence and dampening investment in Canada’s major trading partners. Since the Trump victory, US interest rates have risen sharply with the…Read More
Following four consecutive months of job gains, Canadian employment increased by 11,000 (or 0.1%) in November. Economists had expected hiring to decline by 15,000 according to the Bloomberg News survey. All of the rise in employment, however, was in part-time jobs, as full-time hiring fell by 8,700. This pattern is particularly worrisome as over the…Read More
According to data released this morning by Statistics Canada, the Canadian economy bounced back strongly in the third quarter from the Alberta-wildfire contraction in Q2. The economy grew at a 3.5% (quarter-over-quarter) annual rate in Q3, in line with expectation, following the 1.3% slide in the prior period. The rebound was driven by a sharp…Read More
This morning, the Canadian Real Estate Association (CREA) released its national real estate statistics for October, which showed a modest uptick in home sales nationally, as new listings ticked up and home prices increased once again. For Canada as a whole, the number of homes trading on the MLS Systems increased 2.0% month-over-month in October–up…Read More
Secretary Clinton called Donald Trump to concede the election just before 3:00 AM this morning and will no doubt speak to the American people later today. A populist uprising that has very disturbing elements of racism, xenophobia, misogyny and isolationism has taken Donald Trump to the White House–a man with no experience in government or public…Read More
Canadian employment rose 44,000 (+0.2%) in October–much stronger than expected. But all of the gain was because of more part-time work, as full-time employment fell. The unemployment rate remained unchanged at 7.0% as more people joined the labour force. Compared to one year ago, the total number of hours worked was little changed and employment…Read More
The Canadian Mortgage and Housing Corporation (CMHC) issued its quarterly housing market assessment and outlook today, suggesting that, for the first time ever, there are “problematic conditions” in housing markets at the national level in Canada (see table below for details). As well, CMHC expects national housing starts and MLS sales to decline slightly in 2017 before…Read More
It is no surprise to anyone that the Bank of Canada maintained its target overnight rate at 1/2 percent today, judging that the underlying trend in total CPI inflation will edge upward to 2 percent starting early next year. Temporary offsetting factors, such as the fall in commodity prices and the decline in the loonie…Read More
This morning, The Canadian Real Estate Association (CREA) released its national real estate statistics for September, which showed a modest uptick in home sales nationally, as new listings ticked up and home prices increased once again. For Canada as a whole, the number of homes trading on the MLS Systems increased 0.8% month-over-month in September…Read More
A perfect example of the unpredictable volatility in the Canadian jobs report, the September gain of 67,000 jobs was dramatically larger than economists’ expectations of roughly 7,500 new jobs. Most of the rise was in part-time work, however, and it was boosted by 50,000 additional self-employed workers, which tempers the excitement over the outsized strength…Read More
Yesterday, Ottawa unveiled major initiatives to slow housing activity both by potentially discouraging foreign home purchases and, more importantly, by making it more difficult for Canadians to get mortgages. As well, the Finance Minister is limiting the degree to which mortgage lenders can buy portfolio insurance on mortgages with downpayments of 20% or more. Ottawa…Read More
Real Gross Domestic Product (GDP) in July was expected to continue its rebound from May’s steep, wildfire-driven decline, but the 0.5% monthly gain was better than many analysts had expected. The key driver was higher output in the mining, quarrying and oil and gas extraction sector. The rise in July followed a 0.6% increase in…Read More
In a divided decision, the Federal Open Market Committee (FOMC) decided to maintain the federal funds rate in its current range of 1/4 to 1/2 percent for the sixth consecutive time. There were three dissenters at this meeting. Esther George (Kansas City Fed President) was joined by Loretta Mester (Cleveland Fed President) and Eric Rosengren…Read More
This morning, The Canadian Real Estate Board (CREA) released their national real estate statistics for August, which showed a further slide in home sales as new listings resumed their decline and home prices increased once again. For Canada as a whole, the number of homes trading on the MLS Systems fell 3.1% month-over-month in August–the…Read More
Sherry Cooper P.H.D
25th Sep 2016
DeGroote MBA Presentation – Economic Outlook – September 2016
19th Sep 2016
Western Energy Institute – Economic Outlook
10th May 2016
DeGroote School of Business – Canada in the Global Economy
Sherry Cooper P.H.D
Dr. Sherry Cooper is a sought-after speaker, writer and advisor renowned for her ability to simplify and de-mystify the complex subjects of economics and finance.
Dr. Cooper is Chief Economist of Dominion Lending Centres. Canada’s leading mortgage and leasing company with more than 2,200 members offering free expert advice across Canada. In this role, Sherry helps Canadians understand the issues surrounding their most important financial decision – buying a home.
An award-winning authority on finance and economics, Sherry is also TMX Industry Professor at DeGroote School of Business, McMaster University.
Named “the megawatt celebrity economist” by Canada’s national newspaper –and repeatedly cited as one of the most influential women in Canada, Sherry served as Chief Economist and Executive Vice-President of BMO Financial Group where she was responsible for global economic and financial forecasting as well as country-risk and industry-risk analysis. She joined BMO Financial Group in 1994 when it acquired Burns Fry, where she had been Chief Economist, Co-Head of Fixed Income and the first female director of a Bay Street investment firm.
Well-known as a media commentator, Sherry’s third book – The New Retirement: How It Will Change Our Future – was a block-buster best-seller.
Dr. Cooper has an M.A. and Ph.D. in Economics from the University of Pittsburgh. She began her career at the Federal Reserve Board in Washington, D.C. where she worked very closely with then-Chairman, Paul Volcker and subsequently joined the Federal National Mortgage Association (Fannie Mae) as Director of Financial Economics.
BOOKS BY DR SHERRY COOPER
The New Retirement
How It Will Change Our Future In The New Retirement, global economic strategist Sherry Cooper explains that the boomer generation will be reaching traditional retirement age very soon and that an enormous wave of boomer retirees will crest in 2025. This phenomenon will profoundly affect the labour markets, the economy, and financial markets for decades….
Ride The Wave
In Ride the Wave, Dr. Sherry Cooper, global economic stregist, regular CNBC guest, and former Fed economist, shows how yesterday’s predictable business cycles have been replaced with a spiraling, unending rollercoaster. Yes, says Cooper, we are in the early stages of an “upwave.” In 20 years, the world will be a far wealthier place. But…
The Cooper Files
Never before in history has change been so rapid or so pervasive. We are in the early stages of a technology revolution that is changing the way we communicate, live, work, play and do business. What is Canada’s role in this transforming economy? How can Canadians prepare and profit from such change? Sherry Cooper provides…