Canadian Housing Market Sets Record Highs in August Today’s release of August housing data by the Canadian Real Estate Association (CREA) showed a blockbuster August with both sales and new listings hitting their highest levels in 40 years of data–exceeding the record July activity levels. This continues the rebound in housing that began four months ago….Read More
Bank of Canada Relies on Quantitative Easing As promised, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will rely on large-scale asset purchases–quantitative easing (QE–of at least $5 billion per…Read More
Canada Has Recouped Two-Thirds Of Pandemic Job Losses The August Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of August 9 to 15, five months after the onset of the COVID-19 economic shutdown. By mid-August, public health restrictions had substantially eased across the country and more businesses and…Read More
Canadian Economy Took a Record Nosedive in Q2 Canadian real GDP plunged 11.5% in the second quarter, or -38.7% at an annualized rate, the worst quarterly decline on record (see chart below). This followed an 8.2% plunge in Q1. The worst of the contraction occurred early in the quarter as the lockdown in March and…Read More
Canadian Housing Market Very Strong in July Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26%…Read More
Pandemic Triggers Red-Hot Summer Housing Market We will get the full story on July housing in Canada when the Canadian Real Estate Association releases its July data in the next few days, but local real estate boards have reported a robust July market. Even in Calgary, year-over-year sales have jumped by double digits. Sales in…Read More
Better-Than-Expected Canadian Jobs Report in July Shows Economy’s Resilience The July Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of July 12 to 18. Although public health restrictions had been substantially eased in most parts of the country—with the exception of some regions of Ontario, including Toronto—some…Read More
Dr. Sherry Cooper was recently featured in the Mortgage Broker News in an article discussing the Rapidly Evolving Expectations in the Housing Market, a New Mortgage Professionals report based on a survey of Canadian consumers. Among non-homeowners, the expectation of buying in the next year has doubled, from 7 per cent at the end of…Read More
Canadian Economy Recovers Almost Half Its COVID-Induced Loss in May and June The Canadian economy bounced back sharply in May and June as Canadian provinces eased lockdown measures. GDP expanded 4.5% in May, and activity in June was even more robust at an estimated 5% rise. Cumulatively, GDP rose 10% in May and June, after…Read More
Bank of Canada Holds Target Rate Steady Until Inflation Sustainably Hits 2% The Bank of Canada under the new governor, Tiff Macklem, wants to be “unusually clear” that interest rates will remain low for a very long time. To do that, they are using “forward guidance”–indicating that they will not raise rates until capacity is…Read More
Housing Market Continued Its Rebound in June and Early July There was more good news today on the housing front. Home sales rebounded by a further 63% in June, returning them to normal levels for the month–150% above where they were in April when the pandemic-induced lockdown paralyzed the economy (see chart below). Data released this morning…Read More
Robust Jobs Report in June, Much Better Than Expected The June Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of June 14 to June 20. By that time, public health restrictions had been eased in most parts of the country. Tighter restrictions remained, however, in much of southwestern…Read More
Astonishing Fiscal Red Ink Announced Today Finance Minister Bill Morneau presented his fiscal snapshot this afternoon. Most economists were expecting a budget deficit of roughly $260 billion. Instead, the government announced a deficit for the fiscal year 2020-21 of $343.2 billion–close to 16% of GDP. That compares to the $34.4 billion deficit projected before the…Read More
Canadian Business Sentiment Is Negative The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices. Since the previous survey, conducted before concerns about…Read More
Dr. Sherry Cooper was recently featured on Episode #92 of The Everyday Millionaire podcast where she discussed various insights about the current economic situation, the power of PIVOT and focusing on the way forward. Click here to listen to the full episode. “Everybody needs to keep feeing their minds and their bodies healthfully and… continue…Read More
In case you missed it, Dr. Sherry Cooper was recently featured on The Globe and Mail’s Housing Outlook webcast. This discussion called on various experts to outline the impacts of the pandemic on housing, along with potential paths forward. The discussion also included updates on the economic effects of COVID-19, housing market forecasts and government…Read More
Canada’s Economy Plunged 11.6% in April The pandemic shutdown put every sector of the economy into a medically induced coma, so it was no surprise that the first full month of lockdown would be ugly. Indeed, consensus estimates were worse than the 11.6% drop in economic activity reported this morning by Statistics Canada (see chart below)….Read More
First Formal Remarks By Tiff Macklem, Bank of Canada Governor There were no surprises this morning from Governor Macklem’s virtual presentation to the Canadian Clubs of Canada. His opening written statement was quite brief and it was followed up with a Q and A. Here are the key points that he emphasized. Negative interest rates are…Read More
Opening Statement Before the House of Commons Standing Committee on Finance None of us has any experience in dealing with a medical emergency that has become an economic crisis, and none of us knows how long this will last or how the end game will play out. I think we all can agree that this…Read More
Record Gains in Canadian Home Sales and Listings in May There was good news today on the housing front. Home sales surged by a record 56.9% in May from April’s unprecedented collapse. Data released this morning from the Canadian Real Estate Association (CREA) showed national home sales recovered roughly one-third of the COVID-induced loss between February…Read More
Sherry Cooper P.H.D
22nd Jan 2020
Water Club Longboat
7th Nov 2019
DLC Thrive Presentation
25th Oct 2019
Trade war hurts us all
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 2,600 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 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…
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 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….
If you would like to book Dr Sherry Cooper to make a presentation or have any other questions please use the form below to send her an email.