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Commentaries

Canadian Consumer Price Index
November 19, 2024 Canadian Consumer Price Index (October 2024) Headline CPI inflation increased in October to 2.0% year-on-year (y/y), above expectations for a 1.9% y/y print and up from the 1.6% y/y reading from September.
Canadian Housing Starts
November 18, 2024 Canadian Housing Starts (October 2024) Canadian housing starts came in at 241k annualized units in October, representing an 8% month-on-month (m/m) increase from September. The six-month moving average of starts was flat at 244k units.
Canadian Existing Home Sales
November 15, 2024 Canadian Existing Home Sales (October 2024) Canadian existing home sales vaulted higher by 7.7% month-on-month (m/m) in October. This pushed sales slightly above their pre-pandemic level for the first time since the beginning stages of the Bank of Canada's tightening campaign in early 2022.
Canadian Employment - Job market, hiring, unemployment
November 08, 2024 Canadian Employment (October 2024) The Canadian labour market gained 14.5k positions in October, with full-time employment up 25.6k and part-time employment down 11.2k.
Canadian Merchandise Trade
November 05, 2024 Canadian Merchandise Trade (September 2024) Canada’s merchandise trade balance tallied a $1.3 billion deficit in September, registering in the red ink for the seventh consecutive month.
Canadian Monthly GDP
October 31, 2024 Canadian Monthly GDP (August 2024) Canadian economic growth stalled in August after modest GDP growth in July. This print landed in line of Statistics Canada's advanced guidance and consensus expectations. Early estimates from Statistics Canada point to decent growth in September (0.3% m/m).
Canadian Retail Sales
October 25, 2024 Canadian Retail Sales (August 2024) Retail sales rose by 0.4% month-on-month (m/m) in August, coming in worse than Statistics Canada's advance estimate for a 0.5% m/m increase. July's print was unchanged at 0.9% m/m reported in the advance estimate.
Bank of Canada Interest Rate Announcement (October 23, 2024)
October 23, 2024 Bank of Canada Interest Rate Announcement (October 23, 2024) The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.75%, while stating that it will continue with normalizing its balance sheet.
Bank of Canada Business Outlook Survey and Canadian Survey of Consumer Expectations (2024 Q3)
October 11, 2024 Bank of Canada Business Outlook Survey and Canadian Survey of Consumer Expectations (2024 Q3) According to the Bank of Canada Business Outlook Survey (BOS), Canadian business sentiment remained below its historical average though it saw a slight improvement in the third quarter of 2024. The BOS indicator, a statistical summary of survey results, was -2.33 in 2024 Q3 (vs. -2.88% in 2024 Q2).
Canadian Household Balance Sheet and financial markets
September 12, 2024 Canadian Household Balance Sheet (2024 Q2) Despite an acceleration in liabilities growth and a decline in real estate assets, Canadian households' wealth eked out another quarter of gains thanks to solid growth in U.S. equities and a solid contribution from savings in deposits as gains in disposable income outweighed increases in nominal consumption expenditure.
OPEC+ Extends Cuts and Plans for Production Increases
June 03, 2024 OPEC+ Extends Cuts and Plans for Production Increases
Canadian Manufacturing Sales (January 2023)
March 14, 2023 Canadian Manufacturing Sales (January 2023)
Speech by Bank of Canada Governor Tiff Macklem
November 10, 2022 Speech by Bank of Canada Governor Tiff Macklem
OSFI Proposes Tightening Mortgage Qualification Rules
April 09, 2021 OSFI Proposes Tightening Mortgage Qualification Rules
Canadian Vehicle Sales (March 2020)
April 02, 2020 Canadian Vehicle Sales (March 2020)