Canada Economics Weekly Housing market starting to improve Conditions in the housing market seem to be improving, with the local real estate board data pointing to a big improvement in the home sales-to-new listing ratio in December. While the unseasonably... 5th January 2024 · 5 mins read
Canada Rapid Response Canada Labour Force Survey (Dec.) The unchanged level of employment in December is consistent with the message from the business surveys that labour demand has weakened significantly in recent months. Nonetheless, with wage growth... 5th January 2024 · 2 mins read
Canada Economics Update Don’t fear AI; Canada could benefit more than most A version of this article appeared in the Globe and Mail on 3rd January 2024. 3rd January 2024 · 4 mins read
Canada Economics Update Making sense of the surge in CPI rent inflation It is no secret that strong immigration is pushing up rents but, as rent growth for new tenancies was little changed last year, this does not fully explain the surge in CPI rent inflation. The CPI... 3rd January 2024 · 5 mins read
Canada Chart Pack Canada Chart Pack (Dec. 2023) Our Canada Chart Pack has been updated with the latest data and our analysis of recent developments. Further declines in GDP in the coming quarters mean that the economy is unlikely to grow at all... 28th December 2023 · 0 mins read
Canada Economics Weekly Rapid immigration making the Bank’s job harder Data this week showed that the population jumped by 430,000 in the third quarter alone, almost as much as the official full-year permanent resident target of 465,000. Nonetheless, the November CPI... 22nd December 2023 · 4 mins read
Canada Rapid Response Canada Consumer Prices (Nov.) The renewed acceleration in core inflation pressures in November was largely due to a jump in travel tour prices, which is likely to be quickly reversed. Nonetheless, by highlighting the continued... 19th December 2023 · 3 mins read
Canada Economics Weekly Household debt service ratio will continue to rise Household net worth fell in the third quarter, although the recent resurgence in bond and equity prices means that should soon be reversed. It is too soon to sound the all-clear for households’... 15th December 2023 · 7 mins read
Canada Economics Update Housing Watch (Dec.) November was a weak month all round for housing, with prices falling at a faster pace and starts plunging. Lenders are already cutting mortgage rates in response to the recent drop in bond yields... 15th December 2023 · 4 mins read
Global Economic Outlook Growth, inflation, and rates to be lower than expected We think that global growth will undershoot consensus expectations in 2024 as the lagged effects of monetary policy tightening filter through. Among the advanced economies, the US will continue to... 13th December 2023 · 45 mins read
Canada Economics Weekly Bank risks doing more harm than good The Bank of Canada this week reiterated that strong immigration is putting upward pressure on inflation because housing supply is failing to keep up. Yet the Bank surely can’t be oblivious to the... 8th December 2023 · 5 mins read
Canada Economic Outlook Further falls in GDP to trigger interest rate cuts Further declines in GDP in the coming quarters mean that the economy is unlikely to grow at all next year. Weak growth and a return in inflation to the 2% target will leave scope for the Bank of... 7th December 2023 · 14 mins read
Canada Economics Update Bank to acknowledge reality in the new year The Bank of Canada is clinging on to the idea that restrictive policy is still needed to get inflation back to 2%. Nonetheless, with core inflation pressures muted, GDP and house prices falling, and... 6th December 2023 · 2 mins read
