Month: December 2021

Housing Demand Outpaces Supply Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose 0.6% in November following the whopping 8.6% surge the month before. Sales could have been higher had it not been for the limited supply of homes for sale. Homebuyers are anxious to finalize purchases before the Bank of Canada…

Federal Fiscal Update: Canada Has Weathered The Pandemic Storm Relatively Well Finance Minister Chrystia Freeland extolled the performance of the Canadian economy in response to the extraordinary support provided by the federal fiscal authorities and the Bank of Canada in the past 21 months. The economic recovery has been the second strongest in the g-7,…

Bank of Canada Leaves Expectations For 2022 Rate Hikes Intact The Bank of Canada decided to keep its target for the overnight rate at 0.25%, in line with forecasts and to maintain its forward guidance, which sees a rise in the overnight rate sometime in the middle quarters of 2022. Until then, policymakers vowed to…

Another Blockbuster Jobs Report in November Statistics Canada released the November Labour Force Survey this morning, reporting employment gains of 153,700 last month–four times bigger than expectations. The unemployment rate fell to 6% from the 6.7% rate posted in October and is only 0.3 percentage points above the 5.7% rate posted in February 2020 before the…