Blog by Don Kennedy
July 12th, 2017
BCREA ECONOMICS NOW
Bank of Canada
Interest Rate Decision - July 12, 2017
The Bank of Canada announced this morning that it is raising
its target for the overnight rate by 25 basis points to 0.75 per cent. In the
press release accompanying the decision, the Bank noted that Canada's
economy has been robust and a significant amount of economic slack has been
absorbed. Whi ...
Posted in
General
April 12th, 2017
Bank of
Canada Interest Rate Announcement - April 12, 2017
The Bank of Canada announced this morning that it is
holding the target for its overnight rate at 0.5 per cent. In the press release
accompanying the decision, the Bank noted that economic growth has been faster
than previously expected, boosted by what the Bank sees as temporary spending
from the oil and gas recovery ...
Posted in
General
March 2nd, 2017
BCREA ECONOMICS NOWCanadian Real GDP Growth (Q4'2016) - March 2, 2017The Canadian economy expanded at a 2.6 per cent annual rate in the fourth quarter, beating expectations of 2 per cent growth. Economic growth continues to be led higher by strong household consumption spending, though an uptick in exports was also a significant contributor. Due to a slow start to the year and disruptions ca ...
Posted in
General
October 6th, 2016
Millennials Bear Brunt of Fed Policy ChangesMany, if not most, first-time buyers will experience a steep decline in housing affordability on October 17. New rules introduced by the Federal Government will cause the sharpest drop in the purchasing power of low equity home buyers in years. At a time when housing affordability is a critical issue, deliberately chopping millennials’ purchasing po ...
Posted in
General
October 3rd, 2016
Federal government changes mortgage insurance rules
The federal government announced regulation changes for new government-backed insured mortgages today. Effective October 17, 2016, insured homebuyers will have to qualify at the posted five-year qualifying rate. Previously, only variable rate mortgages and mortgages with terms less than five years were subject to a higher qualifying rate. ...
Posted in
General
June 3rd, 2016
BCREA ECONOMICS NOWUS Employment - June 3, 2016US Non-farm payrolls came in at just 38,000 jobs for the month of May, well below expectations and a significant slowdown from the trend of 200,000 jobs per month set over the previous three months. A slip in overall labour force participation pushed the national unemployment rate down to 4.7 per cent in spite of disappointing job growth. A slow ...
Posted in
General
May 28th, 2016
Bank of
Canada Interest Rate Announcement - May 25, 2016
The
Bank of Canada announced this morning that it is maintaining its overnight rate
at 0.5 per cent. In the press release accompanying the decision, the Bank cited that inflation and economic growth
were evolving roughly in-line with expectations, though household vulnerability
to economic shocks has moved higher due to ...
Posted in
General
April 13th, 2016
BCREA ECONOMICS NOWBank of Canada Interest Rate Announcement - April 13, 2016The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that although first quarter GDP growth appears unexpectedly strong, it believes that strength is temporary and will likely reverse in the second quarter. ...
Posted in
General
March 10th, 2016
Bank of
Canada Interest Rate Announcement - March 9, 2016
The Bank of Canada announced this
morning that it is maintaining its overnight rate at 0.5 per cent. In the press
release accompanying the decision, the
Bank noted that inflation is evolving as anticipated but that a weak economy
will continue to dampen growth in consumer prices. Overall, the Bank judges that
risks i ...
