Home building still bright spot in Canada’s economy
Filed Under Main Content · Tagged: Abbotsford, Building Permit, Canada Economy, Canada Post, Canada S Economy, Canadian Economy, Conference Board Of Canada, Demographic Requirements, Edmonton, Housing Starts, London Ont, Metropolitan Areas, National Survey, Residential Building, Residential Construction, Short Term Housing, Term Outlook, Term Prospects, Victoria
Financial Post-Residential construction is a bright spot in the Canadian economy, according to a national survey that points to good short- and long-term prospects for housing starts in most parts of the country.
The outlook for short-term housing starts is positive in all but three of the 27 metropolitan areas surveyed by the Conference Board of Canada for its June monthly monitor, based on residential building permit data.
The long-term outlook, based on demographic requirements, isn’t quite as rosy, but it’s still positive, with 14 of the areas expected to post gains in housing starts.
All but six of the areas reported year-over-year growth in housing starts, with London, Ont., Edmonton, Trois-Rivieres, Que., Victoria and Abbotsford, B.C., showing the greatest increases from May of 2009…
Home building still bright spot in Canada’s economy
Carney warns of Greek dangers
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Bank Of Canada Governor, Canadian Economy, Debt Crisis, Debt Situation, Financial Crisis, Global Recovery, Indirect Threat, Interest Rates, Mark Carney, Ottawa Citizen, Pace, Risk, Senate Committee, Senators, Testimony, Timeline, Western Countries
Ottawa Citizen- The Greek debt crisis and high borrowing by many Western countries pose an indirect threat to the Canadian economy and could drag down the pace of growth if not resolved, Bank of Canada governor Mark Carney said Thursday.
Carney, in testimony to a Senate committee on banking, also repeated comments made earlier this week that there is no preordained timeline for the central bank to raise interest rates as Canada leaves the financial crisis behind. "The debt situation is one of the largest, arguably the largest, risk to securing the global recovery," he told the senators. "The net result of this would be negative for growth in Canada…”
Canadian economy grows 5%, tops forecasts
Filed Under Main Content · Tagged: Bank Montreal, Bank Of Canada, Bank Of Montreal, Burst, Canadian Economy, Deputy Chief Economist, Douglas Porter, Fourth Quarter, Globe And Mail, Globe Mail, Gross Domestic Product, Interest Rate Decision, Interest Rate Hikes, Interest Rates, Likelihood, Montreal Canadian, Odds, S Gross, Second Half, Statistics Canada
Globe and Mail- The Canadian economy expanded by a greater-than-expected 5 per cent in the fourth quarter, raising the likelihood of interest rate hikes later this year.
The country’s gross domestic product grew at the fastest annualized pace since the third quarter of 2000, Statistics Canada said Monday.
The economy’s burst boosts the odds of a string of rate hikes in the second half of the year. The Bank of Canada announces its interest-rate decision tomorrow, and while rates are on hold for now, the tone of the announcement could well acknowledge that growth is picking up speed at a faster pace than anticipated.
“This report shouts strength, and increases the odds the Bank of Canada will begin to hike interest rates in July and stay on that path in the following decisions,” said Douglas Porter, deputy chief economist at Bank of Montreal…
Canadian economy grows 5%, tops forecasts – The Globe and Mail
Central bank urged to hike interest rates after June
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, C D Howe, C D Howe Institute, Canadian Economy, Inflation, Interest Rate, Interest Rates, Pace, Pledge, Preferred Target, Rate Hikes, Rate Increases, Sharp
Times Colonist- The Bank of Canada should uphold its conditional pledge to keep its key policy rate at 0.25 per cent until July but should then embark on sharp rate hikes of 50 basis points at every announcement date until mid-2011, says an analysis prepared for the C.D. Howe Institute.
The call for sharp rate increases after June emerged yesterday, one week before the Bank of Canada releases its latest interest-rate statement. Recent data indicate the Canadian economy likely expanded in the final quarter of 2009 at a faster pace than the central bank expected (four per cent versus 3.3 per cent), and inflation is now closer to the central bank’s two per cent preferred target than it previously envisaged…
