The Bank of Canada (BoC) on Wednesday decided to maintain its target for the overnight rate at the effective lower bound of 0.25%, with the bank rate at 0.5%, and the deposit rate at 0.25%. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing …
Read More »BoC Maintains Main Rate at 0.25%
The Bank of Canada (BoC) on Wednesday decided to maintain its key interest rate unchanged at a 0.25%, in line with market expectations. BoC is expected to maintain the record low rate for about two years, as the Canadian economy recovers from the impact of the Coronavirus (COVID-19) pandemic.
Read More »Business Sentiment in Canada Improves in Q3
Business sentiment in Canada improved during the third quarter (Q3) of 2020, as lockdown measures and preventive measurements against the Coronavirus (COVID-19) pandemic were eased, according to data by the Bank of Canada (BoC). The BoC business outlook indicator slightly rose compared with Q2, but remained below its average, remaining …
Read More »Canada: ADP Employment Change Arrives at -240.8K for September
Employment in Canada decreased by 240,800 from August to September, the monthly data published by the ADP Research Institue revealed on Thursday. This reading followed August’s print of -770, 600 (revised from -205,400).
Read More »Canada: Unemployment Rate Declines to 9% in September
Net Change in Employment in Canada rose by 378,000 in September, compared to economists’ estimate of 156,600, and brought the Unemployment Rate down from 10.2% in August to 9%, Statistics Canada reported on Friday. This reading beat the market expectation of 9.7% by a wide margin. Further details of the …
Read More »Canadian Ivey PMI Retreats in September
Canada’s Ivey Purchasing Managers Index (PMI) declined in September to a seasonally adjusted reading of 54.3, compared with 67.8 in August. However, the index rose on an annual basis, compared with its level in September 2019 at 48.7, according to data by the Richard Ivey School of Business at Western …
Read More »Canada’s International Merchandise Trade Deficit Expands to $2.4B
Canada’s merchandise trade deficit with the world narrowed modestly to $2.4 billion in August from $2.5 billion in July, the data published by Statistics Canada showed on Tuesday. “After two months of strong growth, Canadian merchandise exports and imports stabilized in August. Imports fell 1.2%, while exports were down 1.0%,” …
Read More »Canada Real GDP Grew by 3% in July
The economic activity in Canada, as measured by the real Gross Domestic Product (GDP), grew by 3% in July, the data published by Statistics Canada showed on Wednesday. This reading matched the market expectation.
Read More »Canada Records CAD 148.6 B Deficit in Four Months
Canada recorded a budget deficit of CAD 148.58 billion ($110.8 billion) during the first four months of fiscal year 2020/2021, compared with CAD 1.56 billion for the same period a year earlier, data showed on Friday.
Read More »Canadian Retail Sales Rise by 0.6% in July
Retail Sales in Canada increased by 0.6% in July to $52.9 billion, the data published by Statistics Canada showed on Friday. This reading followed June’s increase of 0.7% and fell short of the market expectation of 1%. “Core retail sales, which exclude these two subsectors, declined 1.2% on lower sales …
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