Q3 GDP Growth Hits Record High–Albeit Shy of Expectations

General Bob Rees 1 Dec

    Rebounding Q3 Canadian Economy Stalls in Q4 The Canadian economy rebounded sharply in the third quarter, posting its most rapid expansion ever. Still, it was a lower than expected gain, and early data show that momentum is quickly fading in the face of a second wave of the pandemic. Gross domestic product rose by […]

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Federal Fiscal Update–Finance Minister Freeland’s Debut // ” ……. the biggest Covid-19 fiscal response in the industrialized world” … is that a handle that Canada wants to be known for?

General Bob Rees 30 Nov

” ……. the biggest Covid-19 fiscal response in the industrialized world” … is that a handle that Canada wants to be known for?   Federal Fiscal Update–Finance Minister Freeland’s Debut Justin Trudeau’s government, which has delivered the biggest Covid-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the […]

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Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions

General Bob Rees 6 Nov

Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600–well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month […]

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Bank of Canada Recalibrates Quantitative Easing and Holds Prime Rate

General Bob Rees 29 Oct

Bank of Canada Maintains Prime rate … as expected.  Some in depth info below from our Chief Economist Dr Sherri Cooper.  If you don’t have time to read all of the below, jump straight to the “Bottom Line” (very end of article).  Cheers!   Bank of Canada Recalibrates Quantitative Easing As expected, the Bank held […]

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Bank of Canada Will Stop Buying Canada Mortgage Bonds

General Bob Rees 26 Oct

Bank of Canada Will Stop Buying Canada Mortgage Bonds This Wednesday, the Bank of Canada will release its interest rate announcement and the October Monetary Policy Report. Most people expect the overnight rate to remain at 0.25%, where it has been since the pandemic hit. A few have suggested that the Bank could take a page from […]

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Residential Market Update from First National

General Bob Rees 14 Oct

Great update form one of our preferred lenders! First National Financial LP The latest employment numbers coupled with the September reports from the Toronto and Vancouver real estate boards have triggered a lot of optimism about Canada’s economic recovery and the state of the housing market. Statistics Canada reports the economy added 378,000 jobs in […]

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Bank of Canada Relies on Quantitative Easing

General Bob Rees 9 Sep

Hot off the press!  No change in prime rate and the next Bank of Canada Meeting is October 28!   Bank of Canada Relies on Quantitative Easing As promised, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in […]

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Canadian Economy Took a Record Nosedive in Q2

General Bob Rees 28 Aug

Although the heading is not too positive, looks like housing was silver lining ………….     Canadian Economy Took a Record Nosedive in Q2 Canadian real GDP plunged 11.5% in the second quarter, or -38.7% at an annualized rate, the worst quarterly decline on record (see chart below). This followed an 8.2% plunge in Q1. […]

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Bank of Canada Holds Target Rate Steady Until Inflation Sustainably Hits 2%

General Bob Rees 15 Jul

Certainly some positives and some momentum building.  See below for a summary of today’s Bank of Canada economic forecast.     The Bank of Canada under the new governor, Tiff Macklem, wants to be “unusually clear” that interest rates will remain low for a very long time. To do that, they are using “forward guidance”–indicating that […]

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