Bank of Canada Tones Down Hiking Mantra Holding Interest Rate at 1.75% as Expected

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  • #20056
    Helmholtz Watson
    Participant

    The Bank of Canada held its key lending…

    [article]1408[/article]

    #20076
    Truman
    Participant

    BoC Patterson via @LiveSquawk

    Need More Time To Assess Economic Outlook
    Economic Detour Is Actually Going To Be Longer
    Outside Of Energy, Wage Growth Closer To 3Pct

    #20089
    TradersCom
    Keymaster

    Canada February housing starts 173.1K v 205.0K expected via CMHC

    Prior 207.9K (revised to 206.8K)

    #20094
    Truman
    Participant

    Canada net change employment Beats with 55.9K v 1.2K exp
    .Prior month 66.8 K

    Unemployment rate 5.8% as expected

    hourly wage rate 2.2% versus 1.7% expected. This is up from 1.8% last month

    Participation rate 65.8 versus 65.6 estimate. Last month 65.6

    full-time employment change 67.4 K versus 0.8K est. Prior month 30.9K

    part-time employment -11.6K vs -5.7K est. Prior month 36.0K

    Ontario was the sole province with a notable employment gain in February. Employment declined in Manitoba, and was little changed in the remaining provinces.

    More people were employed in professional, scientific and technical services; public administration; natural resources; and agriculture. At the same time, there were fewer workers in accommodation and food services, as well as transportation and warehousing.

    The overall number of employees increased, while self-employment was little changed.
    Employment rose for both women and men aged 15 to 24, while it was little changed for the other demographic groups.

    #20161
    TradersCom
    Keymaster

    [color=red]Canada February Existing Home Sales -9.1% v -4.0% expected lowest level since Nov 2012
    via CREA[/color]

    Prior +3.6%
    Existing sales prices -0.1% y/y for first decline in 10 years
    Non-seasonally adjusted prices -5.2% from Feb 2018

    ” February home sales declined across a broad swath of large and smaller Canadian cities. The housing sector is on track to further reduce waning Canadian economic growth. Only time will tell whether successive changes to mortgage regulations went too far, since the impact of policy decisions becomes apparent only well after the fact,” sais CREA chief economist Gregory Klump

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