Bond market dropped steeply as this news hit and likely too see more negative news for Canadian economy and specifically provinces that rely on exports (Ontario)
According to the Labour Force Survey (LFS), employment declined (-0.2%; -32,600) in March, with losses in subsectors such as wholesale and retail trade (-29,000) and in information, culture and recreation (-20,000). The @IFSD_IFPD 2025Q1 Nowcast stands at 0.9% (q/q, annualized).
The Bank of Canada has decided to cut it overnight rate 0.25%. This marks 3 cuts in a row and gives the BoC a .500 average on the year. If only the Blue Jays could be a .500 baseball team again. There is 2 more decisions this year and both are expected to be cuts.
Updated inflation data was released yesterday with a deceleration to 2.7% vs 2.9% in May. This opens the door a little wider for a BoC cut next week. The unknown will be how fast and how low will rates go now. https://t.co/QxhHxnOrwd
Inflation data was release this week that was higher than expected. It has cast doubt on a July rate cut and the BoC will be looking to June's updates on jobs, GDP and inflation to make their decision.
The BoC is set to decide on their rate Wednesday. GDP numbers released last week showed 1st Q growth at 1.7% vs BoC's estimte of 2.8% which further supports rate cuts. Borrowers will be hoping they aren't as slow to cut as they were to hike during the 2021 run up in inflation.
I attended the Stratford Rural Urban dinner last week and listened to Farmer Tim talk about bad days and good days on the farm. Friday was one of those bad days but not hard to forget them when you have the next generation helping out.
Bank of Canada held their overnight rate at 5% last week but made comments on how inflationary pressures have eased. Economists currently believe there is a 50/50 chance of a cut coming in June. https://t.co/Le14CftWg1
Canadian employment numbers were released Friday and showed cracks growing in the economy. Unemployment has now hit 6.1% which will give the Bank of Canada pause but not likely lead to a rate cut next week. https://t.co/CO1IxdcNI5
Canadian CPI was released on Tuesday and there was positive news for borrowers. Inflation has decreased to 3.2% in Feb vs 3.4% in Jan. This opens the door for cuts but I suspect we are stuck waiting on the US to move first. TD Economics is predicting cuts to occur in July.
BOC held their rate steady at 5.0% this morning with talk of holding firm for the time being. Economists believe we won't see a cut until June. This will be felt by Canadians who are some of the largest borrowers in the world (especially in agriculture) https://t.co/zMLdsMfZEt
@crowleydavid Cold storage, I went to cathedral trusses to get a bigger door on the front so we can store bigger equipment as there is no other shed on the property.