The Central Bank raised its new target for the overnight rate to ¾% Wednesday, citing a confident financial outlook and above-potential growth. This despite softened inflation, which the bank judges to be temporary. “Governing Council judges that the current outlook warrants today’s withdrawal of some of the monetary policy stimulus in the economy,” the Bank […]

For years now, the Governor Stephen Poloz and his Bank of Canada colleagues have held the key overnight rate unchanged at 1/2 percent, while at the Federal Reserve has hiked rates several times with more to come. The jobless rate is at a mere 4.5 percent in the US, clearly at or near full employment […]

Submission to the Standing Committee on Finance The following submission is in response to the Standing Committee on Finance’s comprehensive study of issues surrounding the Canadian residential real estate market; the impact of the housing market on the Canadian Financial System and challenges surrounding access to residentialhome ownership.February 1, 2017Gary MaurisPresidentDominion Lending Centres2215 Coquitlam AvenuePort […]

December’s jobs report was unambiguously strong showing employment gains of 53,700 (0.3%), the result of gains in full-time work. Finally, for the first time this year, full-time jobs outpaced part-time. The unemployment rate increased 0.1 percentage points to 6.9% as more people entered the labour force. This is evidence that the economy may be absorbing […]

The Canadian government has unveiled its housing strategy plans, following months of consultation with Canadians and industry stakeholders. “Affordable housing can connect individuals with the facilities and services they need to build secure, productive and meaningful lives for themselves. Living close to jobs, public transportation and childcare enables people to participate fully in society and […]

It is no surprise to anyone that the Bank of Canada maintained its target overnight rate at 1/2 percent today, judging that the underlying trend in total CPI inflation will edge upward to 2 percent starting early next year. Temporary offsetting factors, such as the fall in commodity prices and the decline in the loonie […]

Pressures from global volatility and slow growth in the wake of the Brexit haven’t deterred the Bank of Canada from its current monetary policy; the central bank has opted to maintain the overnight lending rate at 0.5%. The Bank Rate is correspondingly 0.75%, and the Deposit Rate is .25%. While it was widely expected that […]

Home prices across Canada are set to jump this year as interest rates are kept near record lows by economic uncertainty from the U.K. referendum to leave the European Union, according to brokerage Royal LePage. The average house price will rise 12.4 percent from 2015 to C$563,000 ($434,000), the highest year-over-year forecast from a real estate […]

The Central Bank held its target for the overnight rate at ½% Wednesday, citing increasing “household vulnerabilities.” “Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher,” the Bank said in its announcement. “Meanwhile, the risks to the Bank’s […]

To no one’s surprise, the Bank of Canada left its target overnight rate unchanged at 1/2 percent. The Bank, however, reduced its forecast for the global economy and for the U.S. economy as well, suggesting that the outlook for Canadian exports is less favorable than earlier forecast. (Table 1 below shows the Bank’s current global […]