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
Bank of Canada raises key interest rate to 0.5 per cent
Filed Under Main Content · Tagged: Backdrop, Bank Canada, Bank Interest, Bank Of Canada, Basis Points, Considerable Uncertainty, Domestic Developments, Domestic Economy, Economic Outlook, Europe, Global Recovery, Interest Rate, Rate Hikes, Unrest
Times Colonist- For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate, by 25 basis points to 0.5 per cent, as the domestic economy rebounds strongly against the backdrop of an "uneven" global recovery.
However, it signaled in its accompanying statement there is "considerable uncertainty" in the economic outlook given fiscal and financial unrest in Europe. As a result, further rate hikes "have to be weighed carefully" against global and domestic developments…
Bank of Canada raises key interest rate to 0.5 per cent
EU crisis a boon to Canadian homeowners
Filed Under Main Content · Tagged: Banks, Basis Points, Boon, Canadian Homeowners, Economists, Europe, Financial Instability, Globe And Mail, Mortgage Rate, Mortgage Rates, Rate Hikes, Reprieve, Swift
The Globe and Mail- The financial instability in Europe is giving Canadian homeowners a slight reprieve from rising mortgage rates.
Banks began a series of swift mortgage rate hikes in early April, and both bankers and economists said that rates would continue to rise.
But in the last week a number of banks have cut their rates by between 10 and 15 basis points, effectively undoing the last in a series of three successive rate hikes…
EU crisis a boon to Canadian homeowners – 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…
