July 13, 2022

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Shocks With 100 bps Rate Hike

A Super-Sized Rate Hike, Signalling More To ComeĀ  The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure…

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June 15, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Slow Again in May, Shifting To A Buyers Market in GTA

Housing Market Correction Gains Steam in May Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% monthly (m/m). National home sales fell by 8.6% between April and May, building on…

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June 10, 2022

Category: About Sherry Articles Media Reporting on Sherry

Another Red-Hot Employment Report in Canada

Canadian Labour Market Is Much Too Tight–Adds To Inflation Pressure Today’s Labour Market Survey for May 2022 showed that hiring continued at a rapid pace last month in an increasingly tight labour market, driving the jobless rate to another record low and fueling a sharp acceleration in wage gains. The economy added 39,000 jobs in…

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June 1, 2022

Category: About Sherry Articles Media Reporting on Sherry

The Bank of Canada Hikes Rates Again By 50 bps

Another Jumbo Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back half-point increases are without precedent, but so were the dramatic pandemic rate cuts in the…

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May 18, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Beats Expectations

Canadian Inflation Shows No Signs Of Abating Inflation at 6.8% is unmitigated bad news. The Bank of Canada looks flat-footed again, having forecast that Inflation would be at least a full percentage point lower by now. What’s worse, inflation looks likely to rise again this month given the surge in gasoline prices from April to…

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May 16, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Slow As Mortgage Rates Rise

Canadian Housing Market Feels The Pinch of Higher Rates Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% on a month-over-month (m/m) basis. The decline placed the monthly activity at…

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May 6, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Labour Market Tightens As Unemployment Rate Hits New Low

Labour Market Bumps Up Against Capacity Constraints Job vacancies abound in many sectors, yet employers have trouble finding workers to fill those jobs and retaining workers with so many options available. As the jobless rate falls to new record lows, net new employment has slowed. This is not dissimilar to the housing market, where supply…

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April 20, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Spikes to 6.7% in March

Holy Smokes! Canadian Inflation Is At 6.7% StatsCanada today reported that consumer prices rose a whopping 6.7% year-over-year in March, a full percentage point above the 5.7% reading the month before. Market-driven interest rates shot up on the news as the prospects increase for another half-point rise in the overnight rate when the Bank of…

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April 19, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Begin to Slow in March

Canadian March Home Sales Posted Their Biggest Decline Since June Statistics released today by the Canadian Real Estate Association (CREA) show that rising interest rates were already dampening housing activity well before the Bank of Canada’s jumbo spike in the key policy rate in mid-April. National home sales fell back by 5.4% on a month-over-month…

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April 13, 2022

Category: About Sherry Articles Media Reporting on Sherry

Out-Sized Jump In Bank of Canada Policy Rate

Bank of Canada Hikes Rates by 50 BPs, Signalling More To ComeĀ  The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be followed by the US Federal Reserve next month….

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