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Canada’s Central Bank is Headed by a Comedian
Canada’s Central Bank is Headed by a Comedian Yet Another Delusional Bubble Blower Canada is home to one of the most egregious housing and credit bubbles in the world – a legacy of its former central bank governor Mark Carney, who is now blowing a similarly dangerous bubble in the UK as governor of the […]
Canadian house prices 35% overvalued, Economist magazine says
Canadian house prices 35% overvalued, Economist magazine says Cheap borrowing costs are driving up prices in markets around the world In a survey of housing costs around the world, the Economist magazine says Canada’s housing prices are 35 per cent overvalued when compared to Canadian incomes. Against the level of Canadian rents, housing prices come […]
Eh is not OK: Canada’s Jobs Begin to Unravel
Eh is not OK: Canada’s Jobs Begin to Unravel Canada’s employment stats for February were not what most expected – there was a huge jump in full time jobs. Most commentators tried to put a positive spin on this but I have to disagree. Canada’s labour market is struggling and the outlook for the near […]
Bank of Canada’s Wilkins: Economy still below potential
Bank of Canada’s Wilkins: Economy still below potential OTTAWA (Reuters) – The Canadian economy is still operating below its potential, a senior Bank of Canada official said on Tuesday, pointing to slack in the labor market and calling the recent sharp drop in oil prices a “setback.” In some of the first remarks by a Bank […]
How Much Longer Can Central Banks Push Bonds to Absurdity?
How Much Longer Can Central Banks Push Bonds to Absurdity? Central banks around the world have fallen all over each other lowering their benchmark interest rates. On Tuesday, the Reserve Bank of Australia was the latest, cutting its cash rate to an all-time low of 2.25%. It didn’t mince words: “A lower exchange rate is […]
Is Canada Headed For Another Recession? Eight Troubling Signs
Is Canada Headed For Another Recession? Eight Troubling Signs A string of dire economic news since the beginning of 2015 has many observers worried about whether Canada could be on the brink of another downturn, but economists say it’s too soon to mention the “R-word.” One month in, layoffs seem to be the dominant theme […]
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF
‘Welcome Signs Of Cooling’ In Canada’s Overvalued Housing Markets: IMF Canada’s housing markets will cool this year, leading to a more “balanced” economy — one that is not as dependent on growing consumer debt, the International Monetary Fund says. In a report released Friday, the IMF estimated house prices are overvalued by 7 to 20 per […]
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk Ratings agency Fitch had already warned about Canada’s magnificent housing bubble that is even more magnificent than the housing bubble in the US that blew up so spectacularly. “High household debt relative to disposable income” – at the time hovering near a […]
Canada GDP shrinks, stirring talk of another rate cut
Canada GDP shrinks, stirring talk of another rate cut OTTAWA (Reuters) – Canada’s economy unexpectedly shrank by 0.2 percent in November, prompting market talk that the Bank of Canada will cut interest rates in March for the second time in six weeks. Analysts had expected no growth from October. The month-on-month decline was the largest since […]
Canada’s RBC and BMO move to cut prime rates
Canada’s RBC and BMO move to cut prime rates TORONTO (Reuters) – Royal Bank of Canada, the country’s biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada’s big banks to trim borrowing costs nearly a week after the central bank stunned markets with a […]
Blame Oil: Opportunistic thinking amid the oil price collapse
Blame Oil: Opportunistic thinking amid the oil price collapse The wisdom of Winston Churchill, who once quipped that you should never let a good crisis go to waste, clearly hasn’t been lost on federal Finance minister Joe Oliver, who’s already made considerable hay out of falling oil prices. Mr. Oliver’s finance department won’t table a […]
Axel Merk: Why Asset Prices Must Return To Lower Levels
Axel Merk: Why Asset Prices Must Return To Lower Levels It’s the price you pay for forcing capital to speculate Saying it’s been a busy week and half on the central bank front is perhaps a sizeable understatement. First, the Swiss National Bank stunned the world (and its brethren central banks) by removing its peg […]
What Does the Bank of Canada Know That We Don’t?
What Does the Bank of Canada Know That We Don’t? In a totally unexpected move, the Bank of Canada cut the overnight interest rate by 25 basis points on Wednesday. This of course makes me wonder what the Bank of Canada knows that the rest of us don’t! I mean usually the Bank indicates a […]
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve”
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve” As we have reiterated very frequently over recent years, the biggest vulnerability in the post crisis environment was that central banks start to make policy errors, by taking activist and precipitous decisions. Thus following on from last year’s error by Norges […]
Interest Rate Cut: Bank Of Canada Moves To Stave Off Threat From Sliding Oil Prices
Interest Rate Cut: Bank Of Canada Moves To Stave Off Threat From Sliding Oil Prices OTTAWA — The looming economic threat of sliding oil prices is forcing the Bank of Canada to unexpectedly cut its trend-setting rate to three quarters of a percentage point from one per cent. The central bank’s announcement follows the stunning […]
