Its assumption for proposing a home equity tax, that all homeowners are wealthy, is baseless The congregation I belong to enjoys a potluck meal after weekly services and likes to contribute to those in need in the community. When an elderly woman who looked like she really needed a meal started dropping in at lunchtime, [...]
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Bank of Canada
Rents Continue to Push Inflation up, and That’s Bad for Homeowners, too
on July 18th, 2024
Implement Rent Controls will Rein in Inflation and Stabilize the Canadian Economy The latest numbers show inflation rising from 2.7 percent in April to 2.9 percent in May. It’s a small increase but a move in the wrong direction and enough to cast doubt on whether the Bank of Canada will continue to cut interest [...]
Trudeau’s Spending Spree Hitting Canadians Families Hard
on April 19th, 2022
The debt is now over $1.26 trillion. Just paying the interest to service this debt will cost nearly $43 billion for the 2026-27 fiscal year The Bank of Canada’s decision to increase the policy interest rate by 0.5 percentage points, up to one per cent, was necessary in the current context. The soaring inflation that is hitting [...]
Robust Canadian Jobs Report for December Tops off a Blockbuster Year
on January 7th, 2018
For Immediate release : January 5, 2018 Vancouver, B.C. – The highly anticipated December Labour Force Survey, released this morning by Stats Canada, surpassed forecasts breaking multi-year records. Canada’s jobless rate fell to 5.7% in December, its lowest level in more than 40 years, raising the prospects for a Bank of Canada rate hike possibly as [...]
Fed Signals Another Rate Hike This Year, Asset-Shrinking Begins Next Month
on November 2nd, 2017
Decision Day At The Fed Vancouver, B.C. – The policymakers at the U.S. central bank decided to leave the target range for the federal funds rate (equivalent to the Bank of Canada overnight rate) unchanged at 1 to 1-1/4 percent, acknowledging that the stance of monetary policy remains accommodative. This stance will allow the labour [...]
Bank of Canada Takes Action
on September 7th, 2017
September 6, 2017 Vancouver, B.C. – The Bank of Canada raised the target overnight rate another 25 basis points to 1.0%, making it two hikes in a row following seven years of increasing monetary stimulus. The outsized 4.5% growth in GDP in the second quarter precipitated this action, despite two offsetting factors: the recent surge in [...]
Canadian Job Surge in January
on February 11th, 2017
January’s payroll gain was a huge 48,300, Statistics Canada said on Friday in Ottawa, well above economists’ forecast of a loss of 10,000 jobs. This follows a gain of a whopping 46,100 in December. The unemployment rate fell by 0.1 percentage points to 6.8%. Employment growth has been strong since August. Canada posted the best [...]
Bank on Hold As Housing Expected to Continue to Slow
on January 18th, 2017
Vancouver, B.C. – It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack despite strong employment growth and inflation remaining below the 2 percent target. The policy statement highlighted that that “uncertainty about the global outlook is undiminished, [...]
Canadian Interest Rates Have Bottomed And Housing Has Peaked
on October 21st, 2015
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 inflation continues to be about 1.5 to 1.7 percent. Even before the landslide sweep of the Liberal Party into power, assuring a more stimulative fiscal policy next year, the [...]
The Canadian Dream is Fading Fast for Gen-Zers
Canada is failing Gen-Z: Feeling betrayed, they’re looking elsewhere for opportunity If you plan on being a winner, should you stay in Canada? This is a genuine question for all my fellow Gen-Zers. And the sad truth is we’re starting to believe the answer is no. If you want to be a winner – someone [...]