Canada’s government unveiled its latest magic trick—slowing inflation despite a weakening loonie and a trade partner that’s experiencing an acceleration. Statistics Canada (Stat Can) data shows policymakers made the growth of the consumer price index (CPI) disappear in December. A dive into the numbers reveals it was just an optical illusion—the GST/HST holiday temporarily offset […]
Canada is scaling back its immigration mandate and notifying public servants of significant layoffs. Staff at the Immigration, Refugees and Citizenship Canada (IRCC) just received an email from the Government of Canada (GoC) warning of layoffs as early as next month. The cuts will amount to roughly the equivalent of 1 in 4 roles at […]
Canadians may be facing the largest non-pandemic recession ever, in just a few short weeks. That’s the focus of a new report from National Bank of Canada (NBF), which examines the Bank of Canada (BoC) modeling of a similar tail risk back in 2019. The spat would deliver a blow to both countries, but north […]
Canadian real estate sales are returning to normal, but prices suffered another setback last month. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark, or typical, home, fell in December. Despite demand returning and an ambitious start to 2024, the year closed out with losses doubling the rate seen a month […]
Canadian real estate has seen some positive growth but won’t recover to peak valuations for another half decade. That was the take from BMO Capital Markets, who sees demand getting a boost from a few factors including cheaper, easier credit. However, they don’t see home prices returning to their peak until 2029, as a combination […]
Canadian policymakers worried about temporary residents overstaying their visas can rest easy. Statistics Canada (Stat Can) data shows that non-permanent residents left the country in record volumes in Q3 2024. New limits announced in Q4 has elected officials publicly voicing concerns that these residents may overstay their visas. However, that concern seems overblown considering the […]
Canadian real estate in the 2020s is more for seniors than young adults, though it wasn’t always that way. Bank of Canada (BoC) 2024 mortgage data reveals that seniors are more likely to have a mortgage than those younger than 35 years old. Contrasting it with borrower age at origination reveals that those under 35 […]
Hoping Canadian Parliament’s proroguing will provide relief from higher capital gains? Canada’s Department of Finance warns that isn’t the case, and new forms to pay the increased capital gains rate will arrive by month’s end. Parliament prorogued yesterday abandoning all unpassed legislation, that includes the changes to the capital gains inclusion rate. However, the tax […]
Canada’s central bank is still trying to reel in the mass liquidity injections it made in 2020. A new report from National Bank of Canada (NBF) explains they see quantitative tightening (QT) making progress in 2025. The Bank of Canada (BoC) policy reverses liquidity introduced during quantitative ease (QE) in 2020, and will raise borrowing […]
Canada’s big banks are seeing more mortgage borrowers fall behind on payments despite relief measures. Canadian Bankers Association (CBA) data shows the serious mortgage arrears rate climbed again in October. The rate remains historically healthy, but it has increased sharply from record lows despite policymakers making extensive efforts to mitigate the erosion. About Today’s Data […]
