April 2025

Markets breathed a small sigh of relief last week as the latest (March) CPI release came in below consensus estimates, showing that inflation pressures eased substantially last month. Core CPI, which excludes the more volatile components of food and energy, measured 2.8% year-over-year, down from 3.1% in February, and marking its lowest level since...

The Bank of Canada opted to maintain its trend-setting policy interest rate today, at 2.75%, after lowering it at each of its previous seven meetings.

The Bank finds itself in a tricky position. There is little inflationary pressure from domestic sources, with a relatively soft labour market and headline inflation sitting at very palatable 2.3%. Fur...

With the latest release of the Consumer Price Index (CPI) data from Statistics Canada, inflation has once again trended back towards the Bank of Canada’s target of 2%. The annual rate of inflation fell in March to 2.3%, after it had risen to 2.6% in February. The headline rate has now remained within the Bank’s target range of 1-3% for 15 consecuti...

Canada shed almost 33,000 jobs in March, which was the single largest monthly decline in national employment since January 2022 (when public health measures related to a wave of COVID-19 caused a temporary spike in unemployment). This follows four months of relative labour market stability that had resulted in job gains and a falling unemployment r...