Author: Sherry Cooper

Mortgage Broker News spoke with Dominion Lending Centre’s new Chief Economist about what to expect from rates in 2015 and what affect any changes will have on broker business.

“For now, core inflation in Canada remains quite low, giving the Bank plenty of leeway to maintain a very accommodative policy stance,” said Dr. Cooper.

A quick perusal of recent missives from the chief economists of Bay Street reveals an overwhelming unanimity in trashing the surprise January Bank of Canada rate cut .

Global economic growth will be flat this year and likely next, at 3.2 percent, as the emerging world slows and the U.S. economy outpaces the rest of the developed world.

Much has been made of one sentence in the Federal Reserve’s prior press release in late January: “Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy.”

The province that was the envy of all others is now confronted with serious budgetary red ink, estimated at about $7 billion. Thanks to the oil price rout, royalty income has plunged and the overall economy has slowed dramatically.

In January, the Bank of Canada cut interest rates by one-quarter-percentage point. This led to a number of our offices reporting higher than usual activity over the last month.

From BNN: Sherry Cooper, Chief Economist, Dominion Lending Centres, joins Frances Horodelski to discuss her new role, outlook for the economy, housing market and commodities.

From BNN: Sherry Cooper, Chief Economist, Dominion Lending Centres, joins Frances Horodelski to discuss her new role, outlook for the economy, housing market and commodities.

Sherry Cooper, a former high-profile Bay Street economist, is making something of a comeback, joining the private Vancouver-based mortgage and lending group, Dominion Lending Centres (DLC). Ms. Cooper, born in Baltimore, has been a fixture on the Northern American scene for decades — working at the U.S. Federal Reserve and later with the Federal National…