The global energy shock is driving costs higher everywhere, and Canadians can feel it at the pump. BMO Capital Markets took a stab at estimating the consumer impact from rising prices. Their research shows gas was ~$1.80/liter on Monday, up from $1.60/liter last week. That’s on top of the increase from last year, sending costs […]
Expectations for higher inflation in Canada are rising as it spreads to more components. BMO Capital Markets’ latest forecast contained upward revisions for the consumer price index (CPI). The measure of inflation is expected to rise faster this year as the commodity prices soar. The gap between the Bank of Canada (BoC) forecast and BMO […]
Canadian inflation didn’t hear your transitory call apparently — it’s widening to other categories. Statistics Canada (Stat Can) data shows the consumer price index (CPI) soared in January. The annual growth rate reached 5.1% for the month, advancing from 4.8% a month before. Canada’s inflation hasn’t grown this fast since September 1991, three decades ago. […]
Canada and the US both reported the highest inflation in decades, but they have different takes on tackling it. In recent days, the Bank of Canada (BoC) softened its stance on rate hikes, blaming transitory issues. Meanwhile, the US Federal Reserve has become more aggressive, calling an inflationary shock. Both countries are expected to raise […]
Canada’s central bank increasingly sounds like it doesn’t believe its transitory narrative. In a speech to the Senate committee today, the Bank of Canada (BoC) Governor updated lawmakers on monetary policy. He repeated mostly highlights from last week’s meeting, including the end of stimulus. He also warned households to prepare for higher rates, as they […]
Canada’s central bank has been going Brrr, and it’s not because of the frigid winters in Ottawa. Bank of Canada (BoC) data shows that the money supply is still expanding rapidly in October. The M2++ money supply hit peak annual growth last year, reaching the highest level since the 1980s. The latest numbers show over […]
Canada’s central bank is quickly losing credibility, according to its survey. The Bank of Canada (BoC) Business Outlook Survey (BOS) for Q4 2021 shows businesses expect high inflation for years. Elevated expectations show they don’t see the BoC in control of its inflation mandate. As a result, most businesses are preparing to raise wages higher […]
Time for your cheat sheet on this week’s most important stories. Canadian Real Estate The Bank Of Canada Will Raise Rates In Two Weeks, End Year 500% Higher: JP Morgan One of the world’s largest banks is making a bold call — the Bank of Canada will raise interest rates this month. JP Morgan sees […]
Canadian investment in building construction is soaring. Typically the leading indicator would mean a robust real estate market is coming. That may not be the case this time, according to Statistics Canada (Stat Can) data. Once the agency adjusts for inflation, investment in building construction contracts. The entire increase for investment (and then some) have […]
Canadian households will have to start cutting back and not because of higher rates. It’s the opposite, with low rates now producing toxic price growth for goods and services. Statistics Canada (Stat Can) data shows the average weekly wage saw a substantial increase in December. A closer look shows that rate failed to keep up […]
