Professionals in a range of sectors across North America are sitting up and taking notice of a new report by MIT’s Project Iceberg, a simulation of the US labour market that found nearly 12% of workforce tasks could be completed by current artificial intelligence (AI) tools. That model represents about 151 million workers across 923 […]

The Bank of Canada did as it was expected to last week and cut its trend-setting Policy Rate by 25 basis-points.  It now sits at 2.25%. The central bank has shifted its economic focus away from inflation and is now keeping a closer watch over economic growth.  Inflation remains above the Bank’s target of 2.0%, […]

Canada’s latest inflation numbers have softened expectations for another rate cut by the Bank of Canada, but not by much. The September inflation report from Statistics Canada showed the annual inflation rate rose by 2.4% in September, up from 1.9% in August and higher than the 2.2% expected by analysts. The StatsCan report shows declining […]

Increasing home resales across Canada took a breather in September, but prices held fairly steady. The Canadian Real Estate Association’s latest report shows sales dipped 1.7% last month compared to August, ending a run of gains that started back in April. Once again the Greater Toronto Area was the outlier, showing a year-over-year increase of […]

A pair of new reports say housing affordability in Canada is getting better.  Ottawa’s fiscal watchdog, the Parliamentary Budget Officer (PBO), and well known housing economist Robert Hogue say falling interest rates and rising household incomes are the key factors in the improvement. In his report economist Hogue calculates the national average share of household […]

People hunting for homes and mortgages have had a lot of economic and market news coming their way lately. Probably the most significant is the Bank of Canada’s decision to lower its policy rate. As expected, the central bank trimmed a quarter of a point off its trendsetting interest rate, bring it to 2.50%. It […]

Canada’s latest employment report has significantly increased the likelihood of an interest rate cut by the Bank of Canada on September 17. Statistics Canada’s Labour Force Survey (LFS) for August shows a loss of nearly 66,000 jobs for the month. That follows a drop of 41,000 positions in July. The August unemployment rate stands at […]

The Canadian economy has recorded a small victory in the ongoing fight against the rising cost of living. Statistics Canada reports headline inflation, also known as the Consumer Price Index (CPI), dipped slightly in July to 1.7%.  That is down from 1.9% in June.  Much of that decline is attributed to lower gasoline prices, resulting […]

The Bank of Canada’s next interest rate announcement is set for September 17.  Between now and then there will be plenty of economic data to digest. The latest significant report was Statistics Canada’s July employment reading, which surprised most analysts with a drop of nearly 41,000 jobs.  Most of those positions were full-time.  The unemployment […]

The Canadian economy continues to keep policymakers at the Bank of Canada guessing.  The key contributor to the quandary continues to be U.S. tariffs, and that puzzle has just become even more complicated. As of August first, the U.S. increased its tariff rate on imported Canadian goods to 35%, up from 25%, except for products […]