Following a report in Saturday's Globe and Mail that banking officials have called for tighter mortgage rules to stave off a housing collapse, Finance Minister Jim Flaherty told reporters he does not see signs of a housing bubble in Canada. According to the paper, Flaherty made the comments following the weekend's finance summit. Although he [...]
Bank of Canada governor Mark Carney said Canada is not experiencing a housing bubble and he doesn't see the need for structural changes to the country's mortgage market, according to a report in Reuters. "The Canadian mortgage market has functioned I think exceptionally well during the course of the last decade ... we've seen the [...]
One of the most difficult things about buying a home - especially a first home - is the temptation to spend more than your income will comfortably allow. It doesn't help that lenders tend to approve potential buyers on the premise that they don't have any expenses beyond those that revolve around their household - [...]
For the third straight month in November, Canada's economy grew, backed by strength in the gas and oil industries, wholesale trade, and continued real estate activity. Statistics Canada reports gross domestic product advanced 0.4 per cent on the month, beating the market estimate of 0.2 per cent. Economists say the data shows Canada's economy is [...]
"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today." - Laurence J. Peter With the new year comes new economic predictions, and Canada's big banks are out in full force – dusting off their crystal balls and attempting to determine what's in store for Canadians in [...]
$47B for CMT in '09 Karen Mazurkewich, Financial Post Published: Thursday, January 28, 2010 They were the biggest issuance in the Canadian marketplace last year. But there were no media headlines or industry buzz. The tried-and-true Canada Mortgage Bonds (CMB) churned out through a trust set up by the Canada Mortgage and Housing Corp. have [...]
David Rosenberg Don't count on it. For the Bank of Canada to raise rates before the middle part of 2011 would be totally inconsistent with its current forecast Canadian market watchers will get some good news this week. The predictions for a "blowout" reading on fourth-quarter GDP are already out there and it is likely [...]
Chrystia Freeland and Bernard Simon FT.com Published on Monday, Jan. 25, 2010 9:19AM EST Last updated on Monday, Jan. 25, 2010 5:47PM EST As governor of the Bank of Canada, Mark Carney has had a ringside seat on the global credit crisis. But he is in the fortunate position that his own country's financial system [...]
Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA -The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged [...]
The Bank of Canada stuck to a positive-but-cautious outlook in its latest Monetary Policy Report, saying that while its outlook for global growth is stronger than it predicted in October, the recovery continues to depend on stimulus and "extraordinary measures" taken to support financial systems. As for Canada, the Bank said economic growth resumed in [...]