Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown
Posted on Sep 07, 2023
With last Friday's publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today's meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%.Today's press release announced, "The Canadian economy has entered a period of weak...
Greater Vancouver Real Estate Update - August 2023
Posted on Sep 05, 2023 in Market Update
Seasonal slowdown brings price stability to Metro Vancouver
As summer winds to a close, higher borrowing costs have begun to permeate the Metro Vancouver housing market in predictable ways, with price gains cooling and sales slowing along the typical seasonal pattern.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home s...
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home s...
Rate Hikes Are Definitely Off The Table
Posted on Sep 03, 2023 in Economics
The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace in Q1. (Originally, Q1 growth was posted at 3.1%.) According to the l...Canadian Monthly Economic Growth Q2 - 2023
Posted on Sep 03, 2023 in Economics
Canadian real GDP fell by 0.2 per cent from the prior month in June, following a 0.2 per cent increase in May. The decline was led by weak wholesale trade, which contracted 3 per cent. Construction activity contracted for the second consecutive month, falling 0.6 per cent primarily due to lower residential building construction (which has been down...