December 8, 2022

Category: About Sherry Articles Media Reporting on Sherry

OSFI raises capital buffer for big banks to 3% as household debt risks rise

The Office of the Superintendent of Financial Institutions raised the capital buffer financial institutions must hold to three per cent, citing increased risked from high household indebtedness and the rapid rise in interest rates. The financial watchdog also increased the capital buffer’s range, or the policy tool to keep the country’s financial stability in check,…

Read More

December 7, 2022

Category: About Sherry Articles Media Reporting on Sherry Uncategorized

Wage-price spiral is the real risk as inflation remains high: Economist

Sherry Cooper, chief economist with Dominion Lending Centres, joins BNN Bloomberg for reaction to the Bank of Canada’s 50bps hike. She says the central bank will need to see the labour market cool and that it will likely not pivot to rate cuts until 2024. Click here to watch the video now!

Read More

December 7, 2022

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Hikes Overnight Rate 50 bps to 4.25%

The Bank of Canada Hiked Rates The Full 50 bps The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 4.25% and signalled that the Council would “consider whether the policy interest rate needs to rise further to bring supply and demand back into…

Read More

December 2, 2022

Category: About Sherry Articles Media Reporting on Sherry

Little Comfort for the Bank of Canada in Today’s Jobs Report

Today’s Labour Force Survey for November will do little to assuage the Bank of Canada’s concern about inflation. While employment growth slowed to 10,100 net new jobs–down sharply from October’s reading–the report’s underlying details point to excess labour demand and rising wages. This is compounded by Monday’s data release showing that the Canadian economy grew…

Read More

November 16, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canada’s Inflation at 6.9% in October Supports a December Rate Hike

Bank of Canada Will Not Be Happy With This Inflation Report Not only did the headline CPI inflation rate stall at 6.9% last month, but the core CPI numbers remain stubbornly high. Food inflation–a highly visible component–edged down slightly. Still, prices for food purchased from stores (+11.0%) continued to increase faster year over year than the…

Read More

November 15, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Edged Upward in October, As Prices Continued to Decline

Housing Correction Continued In October Statistics released today by the Canadian Real Estate Association (CREA) show home sales were up 1.3% on a month-over-month basis in October. Still, monthly activity remained a whopping 36% below the October pace in 2021. The housing correction continues in response to the Bank of Canada’s massive rate hikes, but…

Read More

November 4, 2022

Category: About Sherry Articles Media Reporting on Sherry

Shockingly Strong Employment Report In Canada Starts Q4 Off With A Bang

Very Strong Employment Report For October  Today’s Labour Force Survey for October was surprisingly strong, boosting wage inflation to an eye-popping 5.6% year-over-year pace. While good news for the economy, this is terrible news for the inflation fight–just when the Bank of Canada eased its foot on the brakes. The two-year and five-year Government of…

Read More

October 26, 2022

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Slows Pace of Rate Hikes

The Bank of Canada Slowed the Pace of Monetary Tightening The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings…

Read More

October 19, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Too Hot For Comfort in September

Bank of Canada Will Not Be Happy With This Inflation Report Canada’s headline inflation rate ticked down slightly last month to 6.9%, but measures of core inflation remain stubbornly high, and food prices hit a 41-year high. Lower gasoline prices were primarily responsible for the decline in inflation in the past three months. Bond markets…

Read More

October 14, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Housing Activity Slowed Again in September As Prices Continued to Fall

Orderly Housing Correction Continues There are many unusual aspects to the current housing correction, but fundamentally the most noteworthy is how orderly and non-chaotic it has been. Home sales have slowed, but so have new listings, so the price declines are more muted than we might have expected. This is not a housing collapse. It…

Read More
  • Sign up to Newsletter

    Newsletter

    Sign up to regular newsletters from Dr Sherry Cooper