Bank of Canada Hold Interest Rate at 1.75% Says Housing Activity Has Regained Strength

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  • #21810
    Helmholtz Watson
    Participant

    The Bank of Canada held its key lending…

    [article]1708[/article]

    #22090
    TradersCom
    Keymaster

    Canada building permits in August big rise of 6.1% vs 1.0% estimate

    Prior month revised higher to 3.2% from 3.0% previously reported

    Increases were largely because of multifamily and industrial permits

    Gains reported and 7 provinces with over one third of the national increase in Québec
    Multifamily dwellings ex Nova Scotia increased 18.8%, with over half of the gains in British Columbia largely because of a high value permit in Vancouver
    Single-family dwellings rose 3.2% led by Ontario

    Industrial permits with the only component in the nonresidential sector to increase in value, rising by 18.9%. The increase is largely due to a high value permit for a biopharmaceutical company in Toronto.

    Commercial permits declined -5.9%
    5 provinces reported declines in the value of institutional permits, -10.7%

    #22091
    TradersCom
    Keymaster

    [color=red][b]Canada September housing starts fell 2.5 % to 221.2K v 214.5K expected
    Prior 226.6K
    [/b][/color]

    Exp via Canada Mortgage and Housing Corporation (CMHC).

    Urban starts dropped 2.4 percent to 208,503 units,
    Single-detached urban starts slumped 9.2 percent to 48,761 units
    Multiple urban starts decreased just 0.2 percent to 159,742 units.
    Rural starts estimated at a seasonally adjusted annual rate of 12,699 units.

    Housing Starts in Canada averaged 186.12 Thousand units from 1977 until 2019, reaching an all time high of 291.60 Thousand units in March of 1978 and a record low of 90.70 Thousand units in August of 1982.

    #22184
    Helmholtz Watson
    Participant

    Canadians Elections Monday

    Polls
    Trudeau’s governing Liberals 31.5%
    Opposition Conservatives 31.6%.

    Balance is smaller parties – in control with many on the left likely to favor Trudeau

    Trudeau favorite in betting markets.

    Main fear for Canadian dollar and BoC is a Liberal government with a formal coalition with the NDP

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