February 21, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Slows in January Assuring a Rate Pause At March 8 BoC Meeting

Further Decline in Inflation in January Affirms Bank of Canada Pause in March Canadian inflation decelerated meaningfully in January despite the continued strength in the economy. Labour markets remain very tight, and retail sales continue strong. Nevertheless, the Bank of Canada’s jumbo rate hikes over the past eleven months have tempered inflation from a June…

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February 15, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Housing Market Remains Weak

December Housing Data Ended 2022 On A Weak Note The Canadian Real Estate Association says home sales in January were the lowest for the month since 2009 and fell 37.1% from a year ago. The Canadian housing market has been sliding for eleven consecutive months as the unprecedented rise in interest rates–up from 25 basis…

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February 10, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Jobs Market Booms Despite Rate Hikes

Red Hot Labour Market Despite Rate Hikes Today’s Labour Force Survey (LFS) for January was much stronger than expected, once again calling into question how long the Bank of Canada’s rate pause will last. This report showed no evidence that the labour market is slowing in response to the vast and rapid runup in interest rates. …

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January 25, 2023

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada raises policy rate by 25 bps to 4.5%

No Surprises Here: The Bank of Canada Hiked Rates By Only 25 bps, Signalling A Pause As expected, the Bank of Canada–satisfied with the sharp decline in recent inflation pressure–raised the policy rate by only 25 bps to 4.5%. Forecasting that inflation will return to roughly 3.0% later this year and to the target of 2%…

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January 17, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Pressures Ease in December

Good News on the Inflation Front in December The Consumer Price Index (CPI) rose 6.3% year over year in December, down from the 6.8% pace in November. Much of the decline was owing to the drop in gasoline prices. Additional deceleration came from homeowners’ replacement costs, fuel oil and other owned accommodation expenses, and various durable…

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January 16, 2023

Category: About Sherry Articles Media Reporting on Sherry

OSFI Is Concerned About Federally Insured Lender Exposure to Mortgage Risk

OSFI Is At It Again Late last week, the Office of the Superintendent for Financial Institutions (OSFI) announced it was concerned about the risks associated with the large and rising number of highly indebted borrowers, especially those with floating-rate mortgages, which stands at a record proportion of outstanding mortgage loans.  With the economy in danger…

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January 16, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Existing Home Sales Fell by a Record 25% in 2022

December Housing Data Ended 2022 On A Weak Note Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up month-over-month in December while new listings plummeted and national home prices fell again.  Home sales recorded over Canadian MLS® Systems increased 1.3% between November and December 2022. Ottawa and Edmonton…

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January 6, 2023

Category: About Sherry Articles Media Reporting on Sherry

Blockbuster Canadian Jobs Report Raises Odds of a 25 bps Rate Hike Jan 25th

Employment Report Ended 2022 With A Boom Today’s Labour Force Survey for December was much stronger than expected, raising the odds of a 25 bps increase in the policy rate by the Bank of Canada on January 25th. While the Bank has hiked rates by 400 bps to 4.25%, core inflation remains sticky, wages have…

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December 21, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Disappointingly High in November

The Bank of Canada Won’t Like This Inflation Report November’s CPI inflation rate fell only one tick to 6.8%, despite gasoline prices falling. This follows a two-month reading of 6.9%. Excluding food and energy, prices rose 5.4% yearly last month, up from 5.3% in October. Critical gauges of underlying price pressure were mixed but continued…

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December 15, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Prices Fell For the Ninth Consecutive Month As Activity Slowed

Another Month, Another Dip in Housing Statistics released today by the Canadian Real Estate Association (CREA) show home sales edged down in November. National home sales fell 3.3% between October and November, continuing the moderating sales trend that began last February on the precipice of unprecedented monetary policy tightening. Sales are down a whopping 39%…

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