The Bank of Canada Slowed the Pace of Monetary TighteningBy Scott WestlakeOctober 26, 20220 comments#BoC #interestrate #variablerate #bankofcanada #mortgagerate The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The ...Read more...
Bank of Canada Will Not Be Happy With This Inflation ReportBy Scott WestlakeOctober 20, 20220 comments#inflation #BoC #mortgagerates Canada's headline inflation rate ticked down slightly last month to 6.9%, but measures of core inflation remain stubbornly high, and food prices hit a 41-year high. Lower gasoline ...Read more...
Orderly Housing Correction ContinuesBy Scott WestlakeOctober 17, 20220 comments#rates #boc #mortgagerate #inflation Orderly Housing Correction Continues ...Read more...
Our Chief Economists Take On Interest RatesBy Scott WestlakeOctober 17, 20220 comments#interestrates #rates #mortgagerates #boc #inflation Inflation appears to be book-ending my career. I started my work as an economist in the Research Division of the Federal Reserve Board in Washington, D.C., in the late 1970s. Inflation ...Read more...
Inflation Cooled Again in August, But Higher Rates Still ComingBy Scott WestlakeSeptember 20, 20220 comments#interestrates #mortgagerates #BoC #inflation Canada's headline inflation rate cooled again in August, even a bit more than expected. The consumer price index rose 7.0% from a year ago, down from 7.6% in July and a forty-year ...Read more...
The Bank of Canada Hiked Rates Again And Isn't Finished YetBy Scott WestlakeSeptember 8, 20220 comments#BoC #bankofcanada #interestrates #mortgagerates #variablerates The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further. The ...Read more...
The Canadian Economy Is Slowing--Job Markets Will Begin To ShiftBy Scott WestlakeAugust 7, 20220 comments#economicupdate #boc #drsherrycooper #SW #TWT #DLC The July employment report, released this morning by Statistics Canada, is a real head-scratcher. The job numbers fell for a second consecutive month, but so did the number of job ...Read more...
A Super-Sized Rate Hike, Signalling More To ComeBy Scott WestlakeJuly 15, 20220 comments#economicupdate #sherrycooper #rateupdate #boc #variablerate #SW #TWT #DLC The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative ...Read more...
Housing Market Correction Gains Steam in MayBy Scott WestlakeJune 15, 20220 comments#interestrates #boc #canadianrates #rateincrease Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, ...Read more...
Another Jumbo Rate Hike, Signalling More To ComeBy Scott WestlakeJune 2, 20220 comments#BoC #bankofcanada #variablerate #increasedrate #ratechange The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back ...Read more...
Canadian Housing Market Feels The Pinch of Higher RatesBy Scott WestlakeMay 17, 20220 comments#rateupdate #BoC #bankofCanada #housingsupply #supplyvsdemand Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, ...Read more...
Bank of Canada Hikes Rates by 50 BPs, Signalling More To ComeBy Scott WestlakeApril 13, 20220 comments#mortgagerates #mortgagerate #boc #variablerate The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will ...Read more...
Bank of Canada Starts Hiking Rates, Signalling More To ComeBy Scott WestlakeMarch 2, 20220 comments#boc #ratechange #variable #rate The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be ...Read more...
No Wonder The Bank of Canada Didn't Hike Interest Rates Last MonthBy Scott WestlakeFebruary 7, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions ...Read more...
Bank Will Hike Rates At Next MeetingBy Scott WestlakeJanuary 26, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because ...Read more...
Mortgage Broker News - Housing Affordability Erodes Further With Record-Low SupplyBy Scott WestlakeJanuary 17, 20220 comments#economicupdate #boc #drsherrycooper #SW #TWT #DLC To connect with Scott Westlake, scott@thewestlaketeam.com Housing affordability remains a huge political issue and with the Department of Finance working on the upcoming ...Read more...