This move, announced by Bank Governor Tiff Macklem, reflects a shift in the bank’s stance towards inflation and economic recovery. It also offers a glimmer of hope that better times are approaching. Macklem emphasized that the bank’s monetary policy no longer needs to be as restrictive, highlighting the progress made…

The data, which showed a 1.7 per cent annualized growth rate, fell short of both market expectations and the Bank of Canada’s forecast. This sluggish growth was attributed to weak inventory growth offsetting otherwise robust consumption gains. With the Canadian economy expanding at a slower pace than previously anticipated, traders…

The update prompted economists to suggest that the Bank of Canada (BoC) might cut interest rates as early as June. This trend presents a positive outlook for the Canadian economy and supports the possibility of a rate cut this summer. Sal Guatieri, director and senior economist at BMO Capital Markets,…

The numbers heralded a shift toward a more balanced market, with home prices remaining stable and sales down marginally. A stable housing market will also hopefully contribute to a strong and stable economy, although more properties are needed to cope with rising demand. Demand for Canada has seen a surge…

In testimony before MPs, Macklem hinted at the prospect of interest rate cuts as inflation shows signs of abating, signalling a cautious optimism tempered by ongoing uncertainties. Highlighting a downward trend in underlying inflation, Macklem underscored the central bank’s vigilance in monitoring key indicators. With economic growth stagnating and a…

According to Stats Canada, the country’s economy saw a slight rise of 0.2% in February with early estimates stating we can expect to see a similar picture the following month. The February figures were a tick lower than many analysts had expected, leading to some disappointment, although there was also…

Statistics Canada’s advance estimate for March revealed that retail receipts remained unchanged, following a 0.1 per cent decline in February, disappointing expectations for a rebound. The lackluster performance in the retail sector has raised concerns, with analysts pointing to various factors contributing to the subdued spending environment. Rising costs of…

The annual inflation rate now stands at 2.9 per cent, up from 0.1 per cent compared to the previous month. While year-over-year inflation has seen a modest increase, excluding volatile gasoline prices reveals a different picture. Statistics Canada’s consumer price index for March 2024 showed a 2.9 percent increase compared…

The recent fiscal year for Saskatchewan, for example, saw an anticipated surplus of over $1 billion evaporate into a deficit of approximately $482 million due to drought and subsequent crop insurance payouts.  Guillaume Lhermie, director of the Simpson Centre for Food and Agricultural Policy at the University of Calgary, warns…

Preliminary data from Statistics Canada indicates that the gross domestic product (GDP) expanded by 0.4 per cent in February, following a 0.6 per cent growth in January. These gains, particularly in sectors such as oil and gas, manufacturing, and finance, suggest a promising start to the year and mark the…