economic outlook Archives - Mortgage Rates & Mortgage Broker News in Canada

Canada now expected to face deeper recession, Oxford warns

April 22, 2025 No Comments

Weaker global demand, trade war uncertainty and job losses expected to drag economy into contraction through 2026.

Bank of Canada warns of permanent GDP hit if trade war with U.S. drags on

February 12, 2025 No Comments

Members of the Bank of Canada’s Governing Council expressed concerned that prolonged trade tensions with the U.S. could permanently reduce Canada’s GDP, according to the minutes from its January 29 policy meeting.

Bracing for impact: What the current market volatility means for mortgage brokers and borrowers

August 5, 2024 No Comments

It’s amazing what a couple of days can do to the human psyche.

Tiff Macklem on June Bank of Canada rate cut

Following Bank of Canada rate cut, Macklem says it’s “reasonable” to expect more

July 24, 2024 2 Comments

In addition to announcing the rate cut, the Bank of Canada also released updated economic forecasts, projecting moderately slower GDP growth in 2024 than previously anticipated.

Bank of Canada rate cut grows more likely as retail sales slump

July 19, 2024 No Comments

Retail sales dropped in May as Canadians cut back on spending, with early estimates suggesting the decline continued into June.

2024 recession now expected to be “shallower and shorter,” says Oxford Economics

May 16, 2024 No Comments

While Canada’s economy is still expected to enter a technical recession this year, Oxford Economics now believes the downturn will be less severe than initially thought.

Market participants still expect the first Bank of Canada rate cut in April

February 5, 2024 No Comments

Despite push-back from the Bank of Canada against aggressive rate-cut predictions, a majority of influential economists and analysts still expect rates to start falling by April.

Oxford Economics predicts house price decline

Recession expected to drive home prices down another 10%: Oxford

September 20, 2023 No Comments

In its economic and housing outlook released today, Oxford Economics is forecasting a mild recession by the end of the year will lead to an additional 10% decline in average house prices by early next year.

Bank of Canada offers a reprieve for mortgage borrowers, but leaves door open to more hikes

September 6, 2023 No Comments

The Bank of Canada opted to leave interest rates unchanged today but maintained its hawkish bias, confirming it won’t hesitate to hike rates further if inflation doesn’t continue to trend downward.

Weak GDP data means Bank of Canada rate hikes could be “over and done”

September 1, 2023 No Comments

Canada’s economy slowed more than expected in the second quarter, raising the likelihood that the Bank of Canada will leave rates unchanged at next week’s policy meeting.

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