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The Bank of Canada (BoC) held its policy rate steady last week, as expected.

The Bank’s accompanying communications offered a decidedly dovish assessment of our current economic backdrop.

In his Press Conference Opening Statement, BoC Gover...


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Last week Statistics Canada confirmed that our economy shed 84,000 jobs in February, well below the consensus forecast that 10,000 new jobs would be added.

The losses were spread across both our goods-pro...


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Our world is suddenly a lot different.

A week ago, I was focused on the negative economic impacts that US tariffs and trade uncertainty were having on the Canadian economy and mortgage rates. But that narrative took a backseat as soon as bombs started to fall in the Middle East. (They have struck twelve countries thus far.)

War brings terrible human suffering an...


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Last Friday, Statistics Canada confirmed that our annualized GDP contracted by 0.2% in Q4, after rising by 0.6% in Q3.

That is quite a reversal.

On a quarter-over-quarter it decreased by 0.6% (annualized).

The latest GDP data confirmed that our economy finished 2025 with less momentum than was expected.

That QoQ decrease was worse than the consensu...


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