Inflation remained unchanged in October at the elevated level of 6.9%. But inflationary pressures are no longer broadening – read on learn more!
National house prices declined for an eighth consecutive month. Since the start of the correction, prices nationally have fallen by 10%. However, the correction has been bigger in some markets, especially those with the most significant post-pandemic gains. In Alberta, housing market activity eased but remained robust by historical standards.
Insolvencies eased in September. However, the decline comes after an unusually strong increase in August. Nevertheless, the reduction in September does not alter the trend.
Today’s Labour Force Survey data suggest the labour market in Canada remains strong, despite the weakness observed over the summer months. Read more on the Insights blog!
The Bank of Canada increased its policy rate by 50bp, in line with our expectations, to 3.75%, its highest level since February 2008. The central bank also announced that it would continue quantitative tightening (QT). So far this year, the BoC has increased its policy rate by 350bp, the fastest pace since the mid-1990s.
Retail sales rose in August after some weakness in July. Nevertheless, with the preliminary estimate suggesting a decline in September, retail sales likely peaked in June. Adjusted for inflation, retail sales have barely changed, suggesting that consumers are not increasing their consumption level.
Inflation eased in September for a third consecutive month but remained elevated at 6.9%. Read on to learn what the BoC is expected to do.
National house prices declined for a seventh consecutive month, with some markets seeing big impacts. Further cooling is expected – read on.
