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Retail sales declined in September, mainly the result of car dealers struggling with inventory due to continued supply chain woes.
Using previous hiking cycles by the Bank of Canada, we have updated our view of the path for monetary policy in 2022.
How soon the Bank of Canada will hike rates depends on whether inflation expectations become un-anchored and on how quickly the slack in the labour market can be absorbed in the coming months.
Activity in the Canadian housing market rose by 8.6% month-over-month in October. This is the strongest monthly increase since mid-2020.
The COVID-19 recession was not a normal recession and needs to be viewed as such. A decline in global supply is mainly to blame for higher inflation.
After bottoming out late last year, insolvencies seems to have stabilized at a level well below those seen before the pandemic.
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