Bank of Canada rate bump not necessarily a harbinger of hikes to come
Filed Under Main Content · Tagged: Bank Canada, Bank Montreal, Bank Mortgage, Bank Of Canada, Bank Of Montreal, Canada Economy, Discount Mortgage, European Union, Financial Markets, Global Economy, Harbinger, Interest Rates, Key Mortgage, Mortgage Rate, Percentage Point, Rate Increases, Term Bonds, Turmoil, Uncertainty, Vancouver Sun
Vancouver Sun- On the same day the Bank of Canada bumped its key lending rate up, a major chartered bank edged a key mortgage rate down, moves that reflected the continuing uncertainty in world financial markets.
The Bank of Canada on Tuesday became the first G7 central bank to raise interest rates since July 2008, hiking its key overnight lending rate one-quarter of a percentage point to 0.5 per cent in a long-anticipated move aimed at keeping Canada’s recovering economy from overheating.
However, with uncertainty over the global economy mounting due to turmoil in the European Union, the pressure for future short-term rate increases might be easing.
The turmoil has caused interest rates for longer-term bonds to fall, allowing the Bank of Montreal to trim its five-year discount mortgage rate one-tenth of a percentage point to 4.25 per cent…
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Mortgage debt surges as economy picks up steam
Filed Under Main Content · Tagged: Business Investment, Canada Economy, Canada S Economy, Consecutive Quarter, Consumer Spending, First Quarter, Fourth Quarter, Globe And Mail, Import Volumes, Mail Canada, Mortgage Debt, Pace, Residential Investment, Services Statistics, Statistics Canada, Steam, United States
The Globe and Mail-Canada’s economy is on fire, surging 6.1 per cent in the first quarter at an annualized pace. As a measure of comparison, that compares to 4.9 per cent in the fourth quarter of last year, and just 3 per cent in the United States in the first quarter. It’s the best
“Residential investment increased for a fourth consecutive quarter, as did consumer spending on goods and services,” Statistics Canada said this morning. “Export and import volumes both rose for a third consecutive quarter, with growth in imports outpacing growth in exports in the first quarter.”
Notably, business investment rose 0.2 per cent. Spending on machinery and equipment rose 1.8 per cent, Statistics Canada said, though it is still 23 per cent below the peak in the first quarter of 2008…
Mortgage debt surges as economy picks up steam – The Globe and Mail
Canada’s economy grows faster than expected
Filed Under Main Content · Tagged: Canada Economy, Canada S Economy, Consecutive Quarter, Consumer Spending Statistics, Consumer Statistics, Economists, First Quarter, First Three Months, Fourth Quarter, Gdp, Gdp Growth, Gross Domestic Product, Import Volumes, Last Quarter, Pace, Residential Investment, Statistics Canada
The Gazette- Canada’s economy grew at a faster pace than expected in the first quarter of 2010, led by consumer spending, Statistics Canada reported Monday.
Gross domestic product rose at an annualized pace of 6.1 per cent between January and March, the biggest jump since the last quarter of 1999. Growth in the fourth quarter of last year was 4.9 per cent.
Most economists had expected GDP growth of 5.8 per cent in the first three months of 2010.
"Residential investment increased for a fourth consecutive quarter, as did consumer spending on goods and services," Statistics Canada said. "Export and import volumes both rose for a third consecutive quarter, with growth in imports outpacing growth in exports in the first quarter…”
Canada’s economy grows faster than expected
Economy to grow 2.7% in 2010: report
Filed Under Main Content · Tagged: Atlantic Canada, Canada Economy, Canadian Economy, Conference Board Of Canada, Manitoba, Second Half, Times Colonist Victoria
Times Colonist, Victoria, BC – The Canadian economy will begin to recover in the second half of 2009 — led by Atlantic Canada and Manitoba — but will still end the year with negative growth of 1.9%, according to the Conference Board of Canada…
