July 2023

The Bank of Canada raised its overnight rate by 25 basis points to 5 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy has been stronger than expected but is expected slow as higher interest rate work their way through the economy. On inflation, the Bank cited the recent easing of inflation...

It's a Close Call Which Way the Bank Will Go

Employment growth last month came in at a whopping 60,000 jobs, tripling expectations, and most of those net new jobs were for full-time workers. As our population grows, more people are available to fill job vacancies. Employment rose in wholesale and retail trade (+33,000), manufacturing (+27,000), heal...

Home prices continue to rise in Metro Vancouver’s housing market to kick off the summer

Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver1 increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region.

The Real Estate Board of...

Canadian real GDP was flat from the prior month in April, following a 0.1 per cent increase in March. Goods-producing sectors of the economy grew 0.1 per cent while services-producing sectors were flat. Construction activity rose 0.4 per cent as lower residential construction activity was offset by other subsectors, including engineering constructi...