The Bank of Canada To Hold the Overnight Rate at 5 per Cent

Canadian Economics    December 6, 2023

Household savings have dwindled since the start of the interest rate hikes. Since the Bank began raising interest rates in March 2022, household net savings have seen considerable pullback, dropping from approximately $112 billion in the first quarter of 2022 to $81 billion in the third quarter of 2023. This reflects households’ ongoing struggle of increased interest payments and high inflation.

Quick take  •  2-min read
Walter Bolduc

Employment Stagnant Again in November

Canadian Economics    December 1, 2023

Canada’s economy contracted 1.1 per cent (annualized) in the third quarter, following a downward revision of preliminary estimates by Statistics Canada. This result signals that excess demand in the economy is disappearing and explains the muted labour market performance over the last two months. We expect job creation to remain weak over coming months.

Quick take  •  3-min read
Liam Daly

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Consumer Confidence Falls to Its Second-Lowest Recorded Score

Canadian Economics    November 28, 2023

Led by diminished future job prospects, Quebec’s Index of Consumer Confidence fell 20.1-points in November. In October, the province announced planned increases to out-of-province tuition fees for students attending Quebec’s anglophone universities beginning in 2024, something which is likely contributing to the decline.

Quick take  •  2-min read
Walter Bolduc

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