Month: May 2023

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…

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…

Dr. Sherry Cooper joined Dominion Lending Centres President, Eddy Cocciollo, for In Conversation to discuss the latest updates from the Bank of Canada.

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…

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…

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…