January 20, 2021

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Still Expects No Rate Increases Until 2023

The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying…

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January 15, 2021

Category: About Sherry Articles Media Reporting on Sherry

Record December Canadian Housing Market Caps Record Year

2020 Was a Blockbuster Year for Housing Despite the fears leading into the pandemic last Spring, 2020 marked a record number of home resales as new listings lagged and prices climbed. December housing data released by the Canadian Real Estate Association (CREA) today shows national home sales surged 7.2% month-over-month (m-o-m) at a time of…

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January 8, 2021

Category: About Sherry Articles Media Reporting on Sherry

Canadian Jobs Market Tanks in December

Canadian Jobs Market Tanked in December Canadian employment fell 62,600 last month, a bit weaker than expected, following seven months of recovery (see chart below). The rapid rise in COVID cases and the ensuing lockdown measures in many key regions caused the net loss in jobs in the mid-December survey.  Especially hard hit were workers at…

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December 15, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Hit a New Record For The Month of November

Canadian Housing Remained Strong in November  Today’s release of November housing data by the Canadian Real Estate Association (CREA) shows national home sales continued to run at historically strong levels last month. Competition among buyers remains intense in the detached-home market and townhouses. Still, condo apartment sales-relative-to-new-listings have slowed as new listings surged, especially in the City…

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December 9, 2020

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Holds Rates At Effective Lower Bound–QE Continues

Bank of Canada Confirms Commitment To Low Interest Rates Despite the good news on the vaccine front since the Governing Council’s last meeting in late October, the Bank of Canada reasserted its commitment to provide extraordinary monetary policy support for many months to come. The statement released today reiterated that the Bank will hold the…

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December 4, 2020

Category: About Sherry Articles Media Reporting on Sherry

Jobs Growth Slows in November Struck By Second Wave

Canada’s Jobs Recovery Slowed Again in November With Second Wave The November Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 62,000 compared to 83,600 in October–well below the 378,000 gain in September.  This was the weakest job growth in the past six months since the economic recovery began (see…

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December 1, 2020

Category: About Sherry Articles Media Reporting on Sherry

Q3 GDP Growth Hits Record High–Albeit Shy of Expectations

Rebounding Q3 Canadian Economy Stalls in Q4 The Canadian economy rebounded sharply in the third quarter, posting its most rapid expansion ever. Still, it was a lower than expected gain, and early data show that momentum is quickly fading in the face of a second wave of the pandemic. Gross domestic product rose by a massive…

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November 30, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canada’s Fiscal Response to COVID is the Largest in the Industrialized World

Federal Fiscal Update–Finance Minister Freeland’s Debut Justin Trudeau’s government, which has delivered the biggest COVID-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the pump as long as needed. Finance Minister Chrystia Freeland unveiled $51.7 billion of new spending over two years in a mini-budget Monday, led…

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November 16, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian October Home Sales Slow A Touch from Record

Canadian October Home Sales Slipped for the First Time Since April Today’s release of October housing data by the Canadian Real Estate Association (CREA) shows national home sales fell 0.7% month-over-month (m-o-m) from September’s record high (see chart below). This is the first decline in five months, as market conditions remained tight and prices continued…

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November 6, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian Job Growth Slowed in October

Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600–well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month…

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