Media
December 6, 2024
Category: About Sherry Articles Media Reporting on Sherry
November Jobless Rate Surges to 6.8% in Canada Despite Strong Jobs Growth
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,…
November 19, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Inflation increased to 2.0% y/y in October–up from 1.6% in September owing to a smaller decline in gasoline prices.
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…
November 15, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Home Sales Surge in October Led by the GVA and GTA
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…
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…
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!
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…
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…
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…
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…
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%….