Author: Sherry Cooper

Bank of Canada Cuts Policy Rate By 50 BPs Again The BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.25%. The market had priced in nearly 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and a sharp rise in the Canadian unemployment…

The Surge In Canadian Unemployment Keeps Another Jumbo Rate Cut In Play In December Before the release of today’s Canadian Labour Force Data, the odds favoured a 25 basis point drop in the overnight policy rate when the Bank of Canada meets again on December 11th. The data showed more substantial than expected job creation,…

Presented at DLCG Mortgage Group Agents’ University in Edmonton November 19, 2024

October Inflation Rose to 2.0% As Gasoline Price Declines Were More Muted The Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September. Gasoline prices fell to a lesser extent in October (-4.0%) compared with September (-10.7%). The all-items CPI, excluding gasoline, rose 2.2% in October, the same growth rate as…

The Canadian Housing Market Shows Signs of Life Canadian home sales surged to their highest level in more than two years as the Bank of Canada cut interest rates, bringing buyers back into the market. Home sales rose 7.7% month-over-month (m/m) in October, reaching their highest level since April 2022. Rising home sales were broadly…

Weaker-Than-Expected October Jobs Report Keeps Jumbo Rate Cut In-Play in December Statistics Canada released October employment data today. The data showed a marked slowdown in job growth, underscoring ongoing labour-market softness that triggered a jumbo rate cut last month. Statistics Canada said the country added 14,500 positions in October, which missed the median expectation of a 27,200 rise in…

Dr. Sherry Cooper joined Dominion Lending Centres and DLCG Mortgage Group President, Eddy Cocciollo, for In Conversation to discuss the latest updates from the Bank of Canada as of October 23, 2024.

The Bank of Canada is set to make its penultimate interest rate decision of the year this morning – and an oversized cut of 50 basis points is likely, according to Dominion Lending Centres chief economist Sherry Cooper. Click here to read the full article!

Bank of Canada Cuts Policy Rate By 50 BPS After three consecutive 25 bp rate cuts, the BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.75%. The market had priced in 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and back-to-back weak inflation…

Canadian Housing Market Stuck In A Holding Pattern Following the Bank of Canada’s third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts. Home sales recorded over Canadian MLS® Systems climbed…