Canadian Monthly Real GDP (January 2020)
Posted on Mar 31, 2020 in Economics
The Canadian economy grew 0.1 per cent on a monthly basis in January as weather and labour disputes offset more positive developments in some sectors. Before the abrupt change in the world economy due to the COVID-19 outbreak, the Canadian economy was set to grow a solid 1.8 per cent in the first quarter. We may start to see the impact of COVID-19...Bank of Canada Interest Rate Announcement
Posted on Mar 27, 2020 in Economics
For the second time this month, the Bank of Canada has lowered its overnight policy rate before its regularly scheduled announcement date, taking the overnight rate down a further 50 basis points to 0.25 per cent. That level is what the Bank considers its effective lower bound, meaning it can not reduce rates further without potentially disrupting...Canadian Retail Sales (January 2020)
Posted on Mar 20, 2020 in Economics
A weak report to start off 2020. Seasonally-adjusted Canadian retail sales were up by 0.4% in January at $52 billion. The rise in January was driven by auto dealers and gas stations. Minus these two sub-sectors and sales were down 0.3% in the month. Sales were up in 4 of 11 sub-sectors, representing 48% of retail sales. The impact of COVID-19 on th...Canadian Inflation (February 2020)
Posted on Mar 18, 2020 in Economics
Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 2.2 per cent in February year-over-year, down from a 2.4 per cent increase in January. Excluding the impact of gasoline prices, national CPI rose by 2.0 per cent year-over-year, matching last month's increase. Gas prices rose less on a year-over-year basis as a result of lowe...Canada’s Top Banks Support Customers Affected by COVID-19
Posted on Mar 18, 2020 in Mortgage News
Canada’s six largest banks today announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case...
How COVID-19 Could Impact the BC Housing Market
Posted on Mar 17, 2020 in Market Update
• While it’s unknown how the unfolding COVID-19 outbreak will impact the economy in the long-term, BC is facing a sudden stop in economic activity with little guidance to when things may return to normal.• Based on our scenario analysis, BC home sales and prices will likely face declines in the spring and early summer but should recover along with...
