June 9, 2023

Category: About Sherry Articles Media Reporting on Sherry

The May Employment Report Softened Two Days After The BoC Raised Interest Rates

May’s Softer Labour Market Data Ended The Longest Run Of Job Gains Since 2017 Ironically, the May Labour Force Survey showed a modest slowdown two days after the Bank of Canada surprised the markets by raising interest rates. Employment was little changed in May, down 17,300, all for youth aged 15 to 24. All other…

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June 7, 2023

Category: About Sherry Articles Media Reporting on Sherry

In an Aggressive Move, the BoC Hikes the Policy Rate by 25 BPs

Holy Smokes, The Bank of Canada Means Business If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy rate by 25 bps to 4.75%, and an equivalent hike will follow in the prime…

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May 31, 2023

Category: About Sherry Articles Media Reporting on Sherry

First Quarter Canadian GDP Was Stronger Than Expected Pushing the BoC Closer To Rate Hikes

The Canadian economy continues to show marked resilience to high-interest rates. Statistics Canada released data this morning showing real GDP rose at an above-consensus 3.1% annual rate in the first quarter of this year. The estimate for April growth was also firm, a harbinger of continued strength in Q2. The combined drags of the public sector strike and…

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May 18, 2023

Category: About Sherry Articles Media Reporting on Sherry

Craggy path ahead towards the BoC’s 2% inflation target: economist

The Canadian inflation rate accelerated for the first time in nearly a year The slight upward movement in the latest Canadian inflation numbers is an indication that the road to the central bank’s 2% target will be a “bumpy” one, according to economist Sherry Cooper (pictured). Fresh numbers from Statistics Canada showed an uptick in…

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May 16, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian CPI Inflation Ticked Up For The First Time In Nearly A Year

Canadian Inflation Rose More Than Expected in April, But Core Inflation Slowed Canadian Inflation Rose More Than Expected in April, But Core Inflation Slowed  There’s been an unexpected hiccup in the Bank of Canada’s ongoing battle against inflation. Year-over-year, price pressures escalated to 4.4% in April, an uptick from the previous month’s 4.3% and significantly exceeding the…

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May 15, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Housing Activity Strengthens Sharply in April

Vital Spring Housing Market Bodes Well For The Economy The Canadian Real Estate Association says home sales in April surged 11.3% month-over-month. The Spring rebound was on the heels of smaller back-to-back gains in the prior two months. Now that the Bank of Canada paused interest rate hikes and home prices in most regions have…

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May 5, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Jobs Report Much Stronger Than Expected, Keeping Interest High For Longer

High Interest Rates Have Not Slowed the Labour Market Sufficiently The Canadian labour market has done it again, blowing past expectations for the fifth straight month. In April, a whopping 41,400 new jobs were added, more than double what economists predicted. Since February, monthly employment growth has averaged 33,000, following cumulative increases of 219,000 in December 2022 and January 2023. The employment…

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April 23, 2023

Category: About Sherry Articles Media Reporting on Sherry

OSFI’s Annual Risk Outlook – Fiscal Year 2023-2024

Weakening Housing Markets Pose A Risk For The Canadian Economy On April 18, Canada’s national banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), released its second Annual Risk Outlook (ARO), outlining what it believes are the most significant headwinds facing the Canadian financial system – and what the regulator plans on doing about it….

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April 18, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Falls To 4.3% y/y in March–Lowest Level Since August 2021

Great News On The Inflation Front The Consumer Price Index (CPI) fell sharply in March to 4.3% year-over-year, continuing a pattern of repeated declines. Before we break out the champagne, however, much of the drop in inflation resulted from the steep monthly increase in prices in March one year ago (1.4% m/m), the so-called base-year…

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April 17, 2023

Category: About Sherry Articles Media Reporting on Sherry

First Back-to-Back Canadian Home Sales Gain in March

Good News On The Canadian Housing Front The Canadian Real Estate Association says home sales in March edged up 1.4% in March. Homeowners and buyers were comforted by the fall in fixed mortgage rates as the Bank of Canada paused rate hikes. Bond market yields, though very volatile, have trended downward in March, although they…

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