November 8, 2024

Category: About Sherry Articles Media Reporting on Sherry

Canadian Weak Job Gains in October Keeps Jumbo Rate Cut In Play

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…

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October 23, 2024

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada preview: Is a big cut on the way?

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!

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October 23, 2024

Category: About Sherry Articles Media Reporting on Sherry

Jumbo Rate Cut by the Bank of Canada

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…

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October 15, 2024

Category: About Sherry Articles Media Reporting on Sherry

Home sales have trended up since rate cuts began, but new listings have risen faster

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…

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October 15, 2024

Category: About Sherry Articles Media Reporting on Sherry

Canadian inflation fell to 1.6% y/y in September, the smallest yearly increase since 2021.

More Good News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 1.6% year over year in September, the slowest pace since February 2021 and down from a 2.0% gain in August 2024. The main contributor to headline deceleration was lower year-over-year gasoline prices in September (-10.7%) compared with August (-5.1%). The all-items CPI, excluding…

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October 11, 2024

Category: About Sherry Articles Media Reporting on Sherry

Stronger than expected Canadian jobs report for September reduces the chances of a 50-bp rate cut on October 23

Stronger-Than-Expected September Jobs Report Reduces Prospect Of Larger Rate Cuts  Statistics Canada released September employment data today, showing a marked uptick in job growth and the first decline in the unemployment rate this year. Employment rose by 46,700 in September, following four months of little change.  Despite the employment gain, the employment rate—the proportion of the…

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September 17, 2024

Category: About Sherry Articles Media Reporting on Sherry

Great News On the Canadian Inflation Front in August

More Good News On The Canadian Inflation Front The Consumer Price Index (CPI) rose 2.0% year over year in August, the slowest pace since February 2021, and down from a 2.5% gain in July 2024. Core inflation measures averaged 2.35% y/y and excluding mortgage interest, headline inflation was a mere 1.2%–well below the Bank’s target inflation level of 2.0%….

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September 16, 2024

Category: About Sherry Articles Media Reporting on Sherry

August Housing Activity Flat Despite Rate Cuts

Canadian Housing Market Stuck In A Holding Pattern National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another slight gain in August on the heels of the second rate cut in late July. Still, the bigger picture appears to be a market mostly stuck…

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September 6, 2024

Category: About Sherry Articles Media Reporting on Sherry

Weak Canadian Labour Force Survey Sets The Stage For Further Rate Cuts

Weaker-Than-Expected August Jobs Report Raises Prospect Of Larger Rate Cuts Statistics Canada released August employment data today, showing continued growth in excess supply in labour markets nationwide. Employment changed little last month, up 22,100. The employment rate—the proportion of the population aged 15 and older who are employed—decreased a tick to 60.8%, marking the fourth consecutive monthly…

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September 4, 2024

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Cuts Policy Rate By 25 bps to 4.25%

Bank of Canada Cuts Rates Another Quarter Point Today, the Bank of Canada cut the overnight policy rate by another 25 basis points to 4.25%. This is the third consecutive decrease since June. The Bank’s decision reflects two main developments. First, headline and core inflation have continued to ease as expected. Second, as inflation gets…

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