outlook

The Bank of Canada kept its trend-setting Bank Rate at 1.25 per cent on October 25, 2011. This marks the ninth consecutive announcement in which interest rates have been held steady. The tone of the accompanying statement was very dovish, with the Bank noting that “the global economy has slowed markedly as several downside risks to the projection outlined in the Bank’s July Monetary Policy Report (MPR) have been realized.” Of particular note, the Bank said it now expects a “brief recession” in the Eurozone.

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Interest rates to remain on hold for longer

OTTAWA – August 16, 2011 – According to statistics 1 released today by The Canadian Real Estate Association (CREA), national resale housing activity was stable on a month-to-month basis in July following an uptick in June. Highlights: • Sales activity was stable from June to July, but posted a big year-over-year gain due to weakened demand in July 2010. • Year-to-date sales continue to run in line with the ten-year average.

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Canadian home sales stable in July

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Bank of Canada raises key rate to 1%

OTTAWA (August 16, 2010) – The Canadian Real Estate Association (CREA) says national home sales activity continued to trend down in July 2010. The decline was almost entirely the result of fewer sales in British Columbia and Ontario.

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BC and Ontario housing markets feel effects of HST in July

National consumer confidence ended the year 2009 on a stronger footing compared to pre-recession levels, despite having edged down slightly the fourth quarter compared to the third quarter. According to the Conference Board of Canada’s index of consumer confidence, confidence eased slightly in the fourth quarter for the first time in three quarterly periods. The decrease in confidence reflects weakening sentiment about making major purchases

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Consumer confidence ends on a stronger footing

The Bank of Canada held its benchmark overnight lending rate steady at 0.25 per cent at its setting on October 20th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 0.5 per cent

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Bank of Canada maintains interest rates

The Bank of Canada held its benchmark overnight lending rate steady at 0.25 per cent at its setting on September 10th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 0.5 per cent. The Bank said that, in line with its expectations, aggressive policy stimulus and the stabilization of global financial markets are supporting the beginnings of a recovery in Canada and elsewhere

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Bank of Canada keeps interest rates on hold