About Sherry
December 1, 2023
Category: About Sherry Articles Media Reporting on Sherry
Canadian Employment Gains Stronger than Expected in November, While Unemployment Rose and Hours Worked Fell
Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate EmploymentToday’s StatsCanada Labour Force Survey for November was a mixed bag. Total employment gains were stronger than expected. However, the rising unemployment rate and drop in hours worked were signs of mounting economic weakness, especially in the financial and real estate sectors. Employment…
November 30, 2023
Category: About Sherry Articles Media Reporting on Sherry
Q3 GDP Weaker Than Expected Paving The Way For Future Rate Cuts
The Table Is Set For Rate Cuts In 2024 The Canadian economy weakened far more than expected in the third quarter, down 1.1% annually. However, the Q2 figures were revised up significantly from a 0.2% decline to a rise of 1.4%. Such are the vagaries of economic data. The Canadian economy is contracting despite the…
November 30, 2023
Category: About Sherry Articles Media Reporting on Sherry
Bank of Canada decision preview: Are rate hikes now a thing of the past?
The Bank of Canada’s path on interest rates has grabbed headlines and dominated the news cycle throughout 2023 – but its final rate decision of the year isn’t expected to hold many surprises. The central bank has left its policy rate, which leads variable mortgage rates in Canada, unchanged in its last two announcements, with…
November 21, 2023
Category: About Sherry Articles Media Reporting on Sherry
Canadian Inflation Fell to 3.1% (y/y) In October, Ensuring the BoC Holds Rates Steady
Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in September. There were no surprises here, so markets moved little on the news. Excluding…
November 15, 2023
Category: About Sherry Articles Media Reporting on Sherry
Canadian Home Sales Slump Accelerates in October
Home Sales Plummet In October Housing affordability is the number-one issue causing the significant decline in housing activity, adding to PM Justin Trudeau’s political problems. With the growing impact of unaffordable housing and the slowing labour market, activity in the real estate market should remain subdued for the rest of this year. Home sales dropped 5.6% month-over-month…
November 3, 2023
Category: About Sherry Articles Media Reporting on Sherry
Soft Jobs Report Weakens Impetus for Further Bank of Canada Rate Hikes
Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The Table Today’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%),…
October 25, 2023
Category: About Sherry Articles Media Reporting on Sherry
Hawkish Hold By The Bank of Canada
Hawkish Hold By The Bank of Canada The Bank of Canada today held its target for the overnight rate at 5%, as was widely expected. The central bank continues to normalize its balance sheet through quantitative tightening, reducing its Government of Canada bonds holdings. The Monetary Policy Report (MPR) detailed a slowdown in global economic growth…
October 17, 2023
Category: About Sherry Articles Media Reporting on Sherry
Canadian Inflation Dips to 3.8% Keeping BoC On The Sidelines
Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in…
October 13, 2023
Category: About Sherry Articles Media Reporting on Sherry
September Home Sales Weaken in Canada As New Listings Surge
Increasing Mortgage Rates Weighed Heavily On Housing In September Mortgage rates continued to rise in September after BoC tightening and one of the largest bond selloffs in history. Yields have retraced some of their rise more recently, but demand for new and existing homes has slowed. According to data released by the Canadian Real Estate…
October 6, 2023
Category: About Sherry Articles Media Reporting on Sherry
Strong September Jobs Report Will Test Bank of Canada’s Patience
Another Strong Jobs Report Tests BoC’s Patience Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall employment were in part-time work, and total hours worked declined by 0.2%. Moreover, the unemployment rate held steady for the…