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Housing experts warn that interest rates are on their way up
... It was actually a PR exercise that basically said, We are moving, without moving. We are not moving, but we are going to move. According to the Financial Post, be prepared for higher interest rates, said Benjamin Tal, deputy chief economist at the Canadian Imperial Bank of Commerce . That is the message as far as the housing market is concerned. Tal said that he could see some stragglers jumping into the market to lock in a lower rate, but that variable rate holders would only see three months benefit at most. The market ...
Updated: 01/27/2022
Canadian retail sales fall 2.1% in December as Omicron variant hits retailers
Canadian retail sales fell by 2.1 per cent in December as authorities imposed restrictions to fight the Omicron variant of the coronaviruses and retailers faced challenges, according to Statistics Canada on Friday. Canadian retail sales fell by ... ... restrictions and staff shortages. He suggested that this weakness might tip the scales slightly in terms of persuading the Bank of Canada to hold steady when it makes a rate announcement on January 26. Money markets are expecting a 70 per cent chance ...
Updated: 01/21/2022
Bank of Canada likely to raise rates next week
... bank's governor, could find himself in the middle of a public-relations crisis if it moves to slow economic growth when much of the country is in partial lockdowns due to rampant COVID 19 infections, said Benjamin Tal, deputy chief economist at the Canadian Imperial Bank of Commerce . Jean said by email that they think that taking this meeting to tweak the forward guidance would preserve the credibility of the company. The effectiveness of forward guidance lies in its credibility and is a very important tool when we are ...
Updated: 01/20/2022
Infographic: car prices are soaring
... than you would have last year. If your car or truck is at its breaking point, don't buy a used one. According to new data released in the December Consumer Price Index, if you do, you'll be paying 37% more than you would have last year. After months of record gains, prices for used vehicles were starting to come down a bit 1.5% in August, but that didn't last long. In December used car and truck prices went up by 3.5% after increasing by 2.5% a month in October and November. The prices for new vehicles ...
Updated: 01/12/2022
Canadian banks maintain outlook for growth despite inflation
... Royal Bank of Canada, Bank of Commerce CIBC on Monday maintained their forecasts for growth in expenses this year despite expectations that inflation will remain elevated. TORONTO, January 10, Reuters -- Royal Bank of Canada , Bank of Montreal and Canadian Imperial Bank of Commerce CIBC on Monday maintained their forecasts for growth in expenses this year despite expectations that inflation will remain elevated. Victor Dodig, CEO of CIBC's CEO, said at the RBC Capital Markets CEO conference that the 2% inflation in the ...
Updated: 01/10/2022
3 places where investors should invest in the long-term
With the Bank of Canada saying that our current bout of inflation is not short-lived, Canadians are preparing for their purchasing power to take another hit in 2022. We apologize, but this video didn't load. With the Bank of Canada saying that our current bout of inflation is not short-lived, Canadians are preparing for their purchasing ...
Updated: 01/07/2022
Royal Bank employees in Canada to work from home
... to a surge in COVID 19 cases due to the Omicron variant. Royal Bank, Canada 's biggest bank by market value, joins all its major rivals in keeping employees at home. In December, Toronto-Dominion Bank , Bank of Nova Scotia , Bank of Montreal , Canadian Imperial Bank of Commerce and National Bank of Canada , as well as the insurer Manulife Financial Corp, all halted their plans to bring employees back to their work locations in early 2022. A number of Wall Street banks and investment firms, including Bank of America ...
Updated: 01/06/2022
Royal Bank of Canada asks employees to work remotely
... to a surge in COVID 19 cases due to the Omicron variant. Royal Bank, Canada 's biggest bank by market value, joins all its major rivals in keeping employees at home. In December, Toronto-Dominion Bank , Bank of Nova Scotia , Bank of Montreal , Canadian Imperial Bank of Commerce and National Bank of Canada , and insurer Manulife Financial Corp all halted plans to bring employees back to their work locations in early 2022. Several Wall Street banks and investment firms, including Bank of America , Citigroup and Jefferies ...
Updated: 01/06/2022
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