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…

Inflationary pressures in Canada showed signs of easing in February, with the annual inflation rate falling to 2.8 per cent, according to Statistics Canada. This news comes as a surprise to economists who had anticipated a rise to 3.1 per cent, marking a departure from earlier projections. Factors contributing to…

Canada’s economic slowdown may see a turnaround later this year, according to a recent report from RBC Economics. While the country’s GDP growth has lagged behind population gains, economists suggest that a rebound could be a reality in the not too distant future. This signals that Canadians need to dig…