Home » Posts tagged 'bank of canada' (Page 2)
Tag Archives: bank of canada
Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs
Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs Canadian inflation rose faster than expected in May across all eight major components, spiking the Loonie as it supports the BoC’s view that ‘the North’ is emerging from its growth slowdown (and Poloz argument that rates will need to go higher). The headline consumer price index jumped […]
Bankrupt, Eh? Insolvency Filings Soar In Almost All Canadian Provinces
Bankrupt, Eh? Insolvency Filings Soar In Almost All Canadian Provinces The pronounced aftershock from what would historically be considered as very mild interest rate hikes in Canada is continuing. Bloomberg reported that the number of consumers seeking debt relief was up 5.1% to 11,320 in November, according to the Ottawa-based Office of the Superintendent of Bankruptcy. Combining October […]
No “Poloz Put?” Ignore BoC Warning At Your Peril
No “Poloz Put?” Ignore BoC Warning At Your Peril Governor Stephen Poloz’s warning last week that the Bank of Canada wouldn’t backstop fluctuating stock markets drew little attention. “Is there a Poloz Put?” the central bank head asked rhetorically. “No.” At first glance, the fact that only one BNN Bloomberg producer and a few smaller […]
For The First Time Ever, Bank Of Canada Buys Mortgage Bonds
For The First Time Ever, Bank Of Canada Buys Mortgage Bonds Three weeks ago we reported that, the Bank of Canada announced for the first time that in order to prop up the sliding Canadian housing market help increase the tradeable float of its benchmark securities, the central bank would start buying government-backed mortgage bonds, […]
Dear Canada, WTF?
Dear Canada, WTF? Just hours ago, The Bank of Canada held rates steady and complained about various internal and external factors that were negatively impacting the Canadian economy… Holding rates unchanged at 1.75%, the BOC cited almost everything that has gone wrong: moderating global growth, a “materially weaker” outlook for the oil sector, a faster-than-expected […]
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm Amid near-record-low Canadian crude prices and a housing crisis, The Bank of Canada appears to have finally given up its narrative that ‘everything is awesome’. The BoC walked back much of its enthusiasm about the nation’s outlook in a decision that kept interest rates unchanged, […]
Bank Of Canada To Start Buying Mortgage Bonds As Canadian Housing Market Cools
Bank Of Canada To Start Buying Mortgage Bonds As Canadian Housing Market Cools Ten years ago this week, the Federal Reserve announced it would start buying agency MBS. Asset purchases are now arguably a standard non-standard monetary policy tool, as all three major central banks have since embarked in some form of asset purchases, and […]
Anatomy of the Housing Downturn in Vancouver, Canada
Anatomy of the Housing Downturn in Vancouver, Canada It’s not pretty. In 2018, “each month has brought weaker than normal sales, rising inventory, and continued downward pressure on prices” in Vancouver, British Columbia, writes Steve Saretsky, a Vancouver Realtor and publisher of real-estate blog, Vancity Condo Guide. The market faces another headwind: “With the Bank […]
Backlash Against War on Cash Reaches the Bank of Canada
Backlash Against War on Cash Reaches the Bank of Canada A cashless society could have “adverse collective outcomes.” In recent months, a slew of political and financial institutions have raised concerns about the march toward a cashless economy. They include: The ECB warned that a phase-out of cash could pose a serious risk to the financial system. […]
Toxic Mix in Canada: Spiking Inflation, Variable-Rate Mortgages, and a Housing Bubble
Toxic Mix in Canada: Spiking Inflation, Variable-Rate Mortgages, and a Housing Bubble What will the Bank of Canada do? The Bank of Canada has nudged up its target rate four times, starting July a year ago, from 0.5% to 1.5%. It last hiked on July 11. But now it is facing inflation that suddenly and […]
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take
Bank of Canada Hikes Rates By 25bps, Loonie Rises On Hawkish Take The Bank of Canada raised the overnight rate by 25bps to 1.5%, in line with consensus estimates. In justifying the move, the Bank said it expects the global economy to grow by about 3.75% in 2018 and 3.5% in 2019, adding that the […]
The Misconception of Central Banks
The Misconception of Central Banks QUESTION: Mr. Armstrong; I was at the Treasury Management Association of Canada (TMAC) conference in Vancouver when you appeared as a speaker as well as Peter Detallis of the Bank of Canada if I remember his name correctly. I was there at the cocktail party when the Finance Minister of Nova […]
Making Sense of The Federal Reserve
Making Sense of The Federal Reserve I was given a lecture in Toronto to our institutional clients years ago and the central bank of Canada came with ten people. It was an interesting session because the audience began to ask me questions about what the central banks were looking at to make their decisions. I […]
Canadian Banks See Mortgage Growth Stall As Interest Rates Rise
Canadian Banks See Mortgage Growth Stall As Interest Rates Rise As anybody who was around for the housing collapse will remember, nothing bursts a bubble in home prices faster than rising mortgage rates. And while US home prices have surpassed their pre-crisis peak, Canadian home prices have risen much more quickly than home prices in […]
BoC: 8% Of Canadian Households Owe More Than 20% Of The $2.1 Trillion In Debt
BoC: 8% Of Canadian Households Owe More Than 20% Of The $2.1 Trillion In Debt Canadian real estate debt hit a new high, and the news gets worse as they explain it further. The Bank of Canada (BoC) updated household debt numbers for March. In a speech this week, BoC’s Governor Stephen Poloz also gave […]
