July 31, 2015

Category: Media Reporting on Sherry

‘The quarter is looking ugly’: What economists are saying about Canada’s shrinking economy

Dr. Sherry Cooper, chief economist, Dominion Lending Centres “What is particularly troubling about this one is that the main culprit for the decline in May GDP was manufacturing, a sector that was supposed to be boosted by the weak Canadian dollar. This portends badly for the expected recovery in the current quarter as manufacturing exports…

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July 31, 2015

Category: Articles

May GDP Another Troubling Sign for Canadian Economy

The Canadian economy contracted in May by 0.2 percent, the fifth consecutive monthly decline. Here we go again. Another in a long list of serial disappointments for the Canadian economy. What is particularly troubling about this one is that the main culprit for the decline in May GDP was manufacturing, a sector that was supposed…

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July 30, 2015

Category: Media Reporting on Sherry

Economist Sherry Cooper on her best (and worst) predictions

If Canada has a celebrity economist, it’s Sherry Cooper, whose high profile forecasts for BMO were required reading throughout the 1990s and 2000s. The Baltimore native began her career at the Federal Reserve Board and Fannie Mae in the U.S., before moving to Canada in 1983 to work for the brokerage firm Burns Fry (later…

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July 29, 2015

Category: Articles

Fed Leaves Options Open–Dovish Statement

No one expected the Fed to raise its benchmark short-term interest rate today for the first time since 2006. The Fed’s policy statement was, however, expected to at least hint at a rate hike at the next meeting in September. Fed Chair Janet Yellen has publicly stated she expects to raise rates this year–with three…

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July 24, 2015

Category: Media Reporting on Sherry

Current economic environment drawing a certain type of client?

With the Canadian dollar taking a beating, one leading economist believes foreign investors will flock to the Canadian real estate market to take advantage. “Certainly. The price of Canadian real estate has fallen in U.S. dollar terms and in terms of many other currencies as well,” Dr. Sherry Cooper, chief economist with Dominion Lending Centres…

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July 16, 2015

Category: Media Reporting on Sherry

Banks fail to pass on full interest rate cut to tackle recession

The move by the Bank of Canada to cut its key interest rate will help consumers out a little, but experts say with rates already near record lows, it won’t mean much for individual borrowers. Canada’s big banks trimmed their prime rates by 0.15 percentage points to 2.7 per cent in the wake of the…

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July 15, 2015

Category: Media Reporting on Sherry

As a lousy economy tips Ottawa into deficit, will politicians face up to that fact?

He chopped the key overnight interest rate by 25 basis points to 0.5% in the hope it will stimulate Canada’s contracting economy. But that’s the only thing the bank can do to stimulate an economy in recession. Poloz may quibble about using that term, but I’m with most experts who will call this spade a…

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July 15, 2015

Category: Articles

Bank of Canada Cuts Rates 25 bps…Canadian Dollar Plunges

The Bank of Canada cut its overnight rate target by 25 basis points to an historically low 0.5 percent today. The loonie immediately plunged to 77.5 cents U.S., down a full cent. The disparity between monetary policy in Canada and the U.S. is especially evident today as Janet Yellen, Chair of the Fed, is testifying…

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July 10, 2015

Category: Articles

Canadian Jobs Data Weak As Expected

Economists had expected a weak employment report for June on the heels of the larger-than-expected gain in May. Canadian employment fell by 6,400 last month as the biggest decline in part-time work in more than four years dwarfed gains in full-time positions. The unemployment rate remained at 6.8 percent for the fifth month in a…

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