• 2019-11-15 12:32

    --Canada Mortgage & Housing Corp. Survey Also Shows Borrowing Risks Linger

    OTTAWA (MNI) - Canadians are paring back on jumbo home purchases while continuing other risky behaviors through a housing boom that pinched affordability and led regulators to tighten lending standards, a new government survey out Friday shows.

    Some 60% of buyers spent as much as they could afford on a home this year, down from 78% in 2018 according to an online survey by Canada Mortgage and Housing Corp.

  • 2019-11-07 11:10

    --Vancouver Taken Off High-Risk List In August By Federal Housing Agency

    OTTAWA (MNI) - Toronto no longer has a highly vulnerable real estate market, Canada's federal housing agency said Thursday, a week after the central bank avoided cutting interest rates to avoid creating new froth in such markets.

    Canada Mortgage and Housing Corp. lowered Toronto's risk grade to "moderate" from "high", saying prices are moving back more in line with economic fundamentals.

  • 2019-11-06 16:42

    --Adds Senator Grassley and Freeland comments

    OTTAWA (MNI) - U.S.

  • 2019-11-06 14:44

    --Neal Hopes For Strong Bipartisan Congressional Support

    OTTAWA (MNI) - U.S.

  • 2019-10-30 09:00

    OTTAWA (MNI) - The Bank of Canada today maintained its target for the overnight rate at 1 3/4 percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 1/2 percent.

    The outlook for the global economy has weakened further since the Bank's July Monetary Policy Report (MPR). Ongoing trade conflicts and uncertainty are restraining business investment, trade, and global growth. A growing number of countries have responded with monetary and other policy measures to support their economies. Still, global growth is expected to slow to around 3 percent this year before edging up over the next two years. Canada has not been immune to these developments. Commodity prices have fallen amid concerns about global demand.

  • 2019-10-30 09:00

    By Greg Quinn and Anahita Alinejad

    OTTAWA (MNI) - The Bank of Canada held its key interest rate at 1.75% while dropping language about that level providing stimulus, saying global trade fights will test the economy's resilience.

    Inflation will remain close to a 2% target through the next two years and output will grow enough to shrink already modest slack in the economy, policy makers said Wednesday from Ottawa. The global outlook has also weakened further since July and and Canada hasn't been "immune" to the damage.

    "All things considered, Governing Council judges it appropriate to maintain the current level of the overnight rate target,'' the one-page decision said, a shift from the Sept.

  • 2019-10-17 07:30

    By Greg Quinn and Anahita Alinejad

    OTTAWA (MNI) - Canadian factory sales climbed for the first time in three months as motor vehicle assembly plants resumed work after summer shutdowns, while a measure of inventories held close to the highest since the last recession a decade ago.

    Sales rose 0.8% from July, in line with the MNI median for a 0.7% increase. Sales had declined 1.3% in July and 1.5% in June, months marked by shutdowns at auto plants, metalworks and energy facilities.

    Motor vehicle sales climbed 2.6% in August following declines of 4.6% in July and 0.3% in June, Statistics Canada said Thursday from Ottawa.

  • 2019-10-15 08:00

    --IMF Urges Undoing Trade Barriers, Fiscal Support

    WASHINGTON (MNI) - The International Monetary Fund downgraded its 2019 global growth forecast to 3%, the slowest since the global financial crisis, in the face of what it described as a "synchronized slowdown" prompted by rising trade barriers and uncertainty, as well as low productivity growth in the rich world.

    In its October World Economic Outlook, the IMF also cut its growth forecast for 2020 by 0.2 percentage point to 3.4%, noting that next year's improved performance would not be "broad based and is precarious," with advanced economy growth stuck at 1.7%.

  • 2019-10-10 13:07

    Unemployment near record low shows economy near capacity, allowing BOC to hold line on rates

    OTTAWA (MNI) - Canada's labor market probably slowed in September, with employers adding just enough workers to keep the jobless rate close to a record low.

    Job gains probably eased to 5,000 last month, according to the MNI economist median, following a gain of 81,100 in August that was far ahead of forecasts.

    The unemployment rate is expected to remain at 5.7% for a third month in September according to the MNI economist median. The rate hit a record low of 5.4% in May.

  • 2019-09-30 14:03

    By Anahita Alinejad

    OTTAWA (MNI) - Canada's economic growth probably slowed again in July, mirroring expectations the third quarter will be much weaker than the previous three months.

    Gross domestic product probably expanded 0.1% in July after June's 0.2% gain according to an MNI economist median. That would be the fourth month in a row the expansion has slowed from a peak of 0.5% in March. Advance reports on July GDP components show a drop in manufacturing and a flat reading for retail volumes, while growth is supported by strong wholesale sales.

    The economy is slowing from the second quarter's 3.7% annualized pace that was much faster than the Bank of Canada predicted.