Month: April 2024

Federal Budget Targets Rich Canadians For New Spending The budget focuses on helping Millennial and Gen Z voters experiencing rising housing costs and other inflationary pressures. The government has set fiscal anchors, such as keeping the deficit below 1% of GDP starting in 2027. The Canadian federal government released its 2023 budget over a year…

Great News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 2.9% year-over-year in March, as expected, up a tick from the February pace owing to a rise in gasoline prices, as prices at the pump rose faster in March compared with February. Excluding gasoline, the all-items CPI slowed to a 2.8% year-over-year…

Recent Signs Show Housing Activity Will Strengthen Meaningfully In April The Canadian Real Estate Association (CREA) announced today that national home sales for March were roughly flat, while new listings fell and prices stagnated. CREA analysts are confident that recent activity will harken stronger housing markets for the rest of this year.  There is significant pent-up…

The Bank of Canada Cautious, But A Rate Cut In June Is Possible Today, the Bank of Canada held the overnight rate at 5% for the sixth consecutive meeting and pledged to continue normalizing its balance sheet. Governor Macklem confirmed that inflation is moving in the right direction, labour markets are easing, and wage pressures…

March’s Weak Jobs Report Sets The Stage For A June Rate Cut Today’s StatsCanada Labour Force Survey for March is much weaker than expected. Employment fell by 2,200, and the employment rate declined for the sixth consecutive month to 61.4%.  Total hours worked in March were virtually unchanged but up 0.7% compared with 12 months earlier. The details…