Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain…Read More
Canada’s Jobs Recovery Derailed By Third-Wave Restriction This morning, Statistics Canada released the May 2021 Labour Force Survey showing another contraction in employment, albeit not as dramatic as in April. With the geographical broadening in lockdown restrictions in May, employment fell by 68,000 (-0.4%), but almost all of the decline was in part-time work. The number…Read More
Housing Drove the Economic Expansion in Q1 This morning’s Stats Canada release showed that the economy grew at a 5.6% annualized rate in the first quarter, after a revised 9.3% pace in the final quarter of last year. That was somewhat below economists’ expectations. Housing investment grew at an annualized 43% pace, by far the…Read More
Starting to See A Slowdown In Canadian Housing Today, the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 12.4% nationally from March to April 2021. Over the same period, the number of newly listed properties fell 5.4%, and the MLS Home Price Index rose 2.4%. While home sales fell month-over-month in April, largely due to…Read More
Canada’s Jobs Recovery Impaired by Third-Wave Virus Restrictions This morning, Statistics Canada released the April 2021 Labour Force Survey showing a major deterioration in the jobs market following the third-wave Covid containment measures. Employment fell by 207,100 (-1.1%) in April, and the unemployment rate rose 0.6 percentage points to 8.1%. Employment declined in both full-time (-129,000; -0.8%) and part-time (-78,000; -2.3%) work. The number…Read More
Bank of Canada Scales Back Bond Buying Today, the Bank of Canada held its target for the overnight rate at the effective lower bound of ¼ percent. The Bank is also adjusting its bond-buying program from weekly net purchases of Government of Canada (GoC) bonds of $4 billion to $3 billion. This adjustment to the…Read More
Chrystia Freeland’s First Budget is As Promised n more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” for workers and struggling businesses another few months as it aims to pull Canada through the pandemic once and for all. Clocking in at a bulky 724 pages, this is a highly detailed budget that sets…Read More
March Existing Home Sales in Canada Hit New Record High As New Listings Surge To Unprecedented Levels
What is All the Policy Hysteria About? Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales hit another all-time high in March. What was arguably more noteworthy was that new listings hit their highest level on record in seasonally adjusted terms in March. Prices continued to rise as sales dwarfed the new supply. The number of…Read More
Blowout Canadian Job Growth Continued In March This morning, Statistics Canada released the March 2021 Labour Force Survey showing much stronger-than-expected job growth for the second month in a row, pointing towards a Q1 growth rate of more than 5.5%. This survey reflected labour market conditions during the week of March 14 to 20,…Read More
Banking Regulator Aims To Make It Tougher To Get An Uninsured Mortgage With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an…Read More
Housing Continued to Surge in February Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in February 2021. Canadian home sales increased a whopping 6.6% month-on-month (m-o-m), building on the largest winter housing boom in history. On a year-over-year (y-o-y) basis, existing home sales surged an amazing 39.2%. As the…Read More
Easing Restrictions Ignite Canadian Job Market In February This morning, Statistics Canada released the February 2021 Labour Force Survey showing much stronger-than-expected job growth. The early days of the latest easing in COVID restrictions reinvigorated the labour market. Economists were pleasantly surprised by the rapid rebound. To be sure, there remain risks to the outlook, a…Read More
Bank of Canada Holds Rates and Bond-Buying Steady Much has changed since the Bank of Canada’s last decision on January 20. While the second pandemic wave was raging, new lockdowns were implemented in late 2020, and there were fears that the economy, in consequence, was likely to grow at a 4.8% annual rate in Q4…Read More
Strong Canadian Economic Growth in Q4 and January This morning’s Stats Canada release showed that economic growth in the final quarter of last year was a surprisingly strong 9.6% (annualized). The surge in growth in January was even more interesting, estimated at a 0.5% (not annualized) pace. If these numbers pan out, it means that Canada…Read More
Canadian 5-Year Bond Yield Surges In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered…Read More
Longer-Term Yields are Rising Despite Central Bank Inaction While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year Government of Canada bond, upon which mortgage rates are generally tethered, are currently at…Read More
Housing Continued to Surge in January Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in January 2021. Canadian home sales increased 2.0% month-on-month (m-o-m) building on December’s 7.0% gain. On a year-over-year (y-o-y) basis, existing home sales surged 35.2%. As the chart below shows, January activity…Read More
Dominion Lending Centre’s chief economist Dr. Sherry Cooper says some economists may want to take into consideration one of the glaring weaknesses in Canada’s battle against COVID-19 before getting too ahead of themselves. “One of the biggest reasons [the Bank of Canada] can’t raise rates this year is the vaccine rollout debacle,” Cooper said. “There…Read More
Extended Lockdowns Batter Jobs Market This morning, Statistics Canada released the January 2021 Labour Force Survey showing the negative economic impact of extended lockdowns in Ontario and Quebec. The closing of all in-person dining, nonessential retail, recreational facilities and personal care services in these provinces and Alberta and Manitoba took its toll on the labour markets….Read More
Dominion Lending Centres is celebrating an incredible milestone… 15 years in business as of January 6, 2021! In honor of this anniversary, they have put together a commemoration video with comments from employees and partners across the country – myself included. Click here to watch now!Read More
Sherry Cooper P.H.D
6th Apr 2021
US Economy Recovers Under Biden
US Economy Recovers Under Biden presented by Dr. Sherry Cooper for the Longboat Key Democratic Club
Click here to watch the video!Download Presentation
24th Mar 2021
Canada’s Economy Set to Take Off – Neighbourhood DLC
Neighbourhood DLC with Dr. Sherry Cooper on Canada’s economy.Download Presentation
23rd Mar 2021
Canada’s Economy Set to Take Off – AIC
Appraisal Institute of Canada with Dr. Sherry Cooper on Canada’s economy.Download Presentation
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.
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.