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 Come  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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April 8, 2022

Category: About Sherry Articles Media Reporting on Sherry

Another Strong Canadian Jobs Report–We Are At Full Employment

Labour Market Tightens Further Statistics Canada released the March Labour Force Survey this morning, reporting a 72,500 jobs gain from the whopping 337,000 surge in February. Employment increased in both the goods- and services-producing sectors. Gains were concentrated in Ontario and Quebec. The unemployment rate fell to 5.3%, its lowest monthly rate since the data…

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April 7, 2022

Category: About Sherry Articles Media Reporting on Sherry

Housing A Major Theme Today’s Federal Budget

Affordable Housing Is A Key Theme In Federal Budget 2022 Today’s budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to meet the demands of a rapidly growing population base. Thanks to the federal government’s policy to rapidly increase immigration…

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March 16, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian CPI Inflation Rises to 5.7%

Inflation Pressures Accelerating StatsCanada today reported that consumer prices rose 5.7% year-over-year in February, up again from the prior month’s 5.1% rise. This was the largest gain since August 1991 (+6.0%). This was no surprise, as the Ukraine War has stepped up inflation pressure worldwide. The US CPI rose a whopping 7.9% last month (see…

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March 15, 2022

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Rose in February as New Listings Increased Sharply

New Listings Finally Show Some Life Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales were up in February 2022 as buyers jumped on the first spring listings. The number of newly listed properties surged a welcome 23.7% from extremely depressed levels, hopefully portending a much-needed increase in supply…

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March 11, 2022

Category: About Sherry Articles Media Reporting on Sherry

Blockbuster Canadian Jobs Report for February

Canada Reached Full-Employment in February Statistics Canada released the February Labour Force Survey this morning, reporting a much more significant than expected 336,600 net new jobs, with the unemployment rate falling a full percentage point to 5.5%. This is the first time the unemployment rate fell below its pre-Covid level and reinforces the expectation for…

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March 2, 2022

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Hikes Policy Rate by 25 bps, and Sustains Current Bond Holdings

Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be coming. This is the first rate hike since 2018. In a cautious stance, the…

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