BoC seen on hold as Canada loses jobs
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Canada Jobs, Canada Post, Canadian Economy, Consensus, Encouragement, Full Time Jobs, Health, Labour, Looking For A Job, Lost, Net Jobs, Proof, Rate Hikes, Unemployment Rate
The Financial Post- More proof the Canadian economy has cooled emerged Friday with labour data indicating a net 6,600 jobs were lost in September, giving the Bank of Canada additional reasons to refrain from rate hikes in the coming months.
Yet there were bright spots within the data — such as a 37,000 addition in full-time jobs — that gave analysts encouragement about the health of the Canadian economy.
The unemployment rate dropped, to 8%, although that was driven by more people opting to stop looking for a job and, among other things, return to school. Plus, the headline job loss was below the consensus call for a 10,000 gain in September…
BoC seen on hold as Canada loses jobs
Housing and jobs may still prompt Bank of Canada rate hike
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Bank Of Canada Governor, Canada Post, Canadian Economy, Chief Economist, Desk, Divergence, Employment Data, Inflation Target, Jobs Bank, Jobs Canada, Mark Carney, Momentum, National Bank Financial, Overnight Rate, Policy Stance, Rate Hike, Slowdown, Strategist
Financial Post- The threat of a renewed slowdown in the United States and slowing momentum for the Canadian economy has the Bank of Canada nervous about its next move. But despite heightened expectations that the central bank will pause at its next meeting, potential housing regulation and the next round of employment data may influence the decision.
After two recent increases to its overnight rate, Bank of Canada governor Mark Carney on Thursday reiterated that “financial conditions remain exceptionally simulative.” He also warned that while Canada’s situation and the inflation target dictate a different policy stance than in the United States, “there is a limit to this divergence.”
Stéfane Marion, chief economist and strategist at National Bank Financial strongly agrees, but wonders what the actual of divergence is…
Housing and jobs may still prompt Bank of Canada rate hike | Trading Desk | Financial Post
Did the Bank of Canada fuel the run-up in house prices?
Filed Under Main Content · Tagged: 1990s, Bank Canada, Bank Of Canada, Canada House, Canadian Economy, Cool Canada, Economic Development, Fuel Prices, Globe And Mail, Globe Mail, House Prices, Income Ratio, Last Decade, Monetary Policy, Oecd, Organization, Real Estate, Time Out
The Globe and Mail- The Bank of Canada may have fuelled the run-up in Canadian house prices with loose monetary policy over the course of the last decade, the Organization for Economic Development and Co-operation says. In its annual review of the Canadian economy, released today, the group notes the increase in house prices, along with the price-to-income ratio, since the late 1990s, with a time out starting in June 2008 when costs fell, but only briefly. Some markets, the OECD says, are still overpriced despite the recent softening in the market, though real estate is expected to soon cool further…
Did the Bank of Canada fuel the run-up in house prices? – The Globe and Mail
No increase in mortgage costs seen for Sept.
Filed Under Main Content · Tagged: Bank Of Canada, Bank Of Canada Governor, Bank Of Montreal, Barrage, Canadian Economy, Economists, Fixed Rate Loans, Gross Domestic Product, Interest Rate, Likelihood, Mark Carney, Mortgage Costs, Mortgage Experts, Mortgage Rate Comparison, Online Mortgage, Product Numbers, Rate Mortgages, Second Quarter, Slowdown, Toronto Sun
Toronto Sun- Homeowners aren’t likely to face higher mortgage costs for at least the next month and some banks may even follow the Bank of Montreal in cutting new fixed-rate loans to compete for a dwindling number of buyers, specialists said.
According to a panel of mortgage experts polled by online mortgage rate comparison site RateSupermarket.ca, both fixed-rate and floating rate mortgages will remain unchanged for the next 30 to 45 days.
The sharper-than-expected slowdown in the Canadian economy, which grew at 2% in the second quarter, coupled with a barrage of negative data from the U.S., has increased the likelihood that Bank of Canada governor Mark Carney will pause in his interest rate tightening cycle in September.
Before Tuesday’s gross domestic product numbers, most economists had expected one more increase before rates went on hold…
No increase in mortgage costs seen for Sept. | Money | Toronto Sun
