Skip to Content

Bank of Canada Lowers Benchmark Interest Rate by 25 Basis Points to 2.75%

The Bank of Canada has lowered its key lending rate to 2.75 per cent, which would mark its seventh consecutive cut.

Canada’s Inflation Rises to 1.9% in January Despite GST/HST Tax Break

Inflation ticked up to 1.9% in January, even as the temporary GST/HST tax break helped lower some prices.

  • CPI: 1.9% (up from 1.8% in December)
  • CPI-median: 2.7% (up from 2.6% in December)
  • CPI-trim: 2.7% (up from 2.5% in December)

Labour Market Stagnates in February

  • Jobs: Net increase of 1,100 jobs
  • Unemployment Rate: 6.6% (unchanged from January)

Canada’s Economy Surpasses Growth Expectations in Q4 2024

Stronger consumer spending, increased business investment, and higher exports drove economic growth beyond forecasts.

  • Q4 GDP: 2.6% annualized growth (vs. expected 1.9%)
  • December GDP: 0.2% monthly gain (vs. expected 0.3%)
  • Preliminary January GDP Growth: 0.3% monthly gain

Canada’s Average Asking Rent Declines Again, Reaching Lowest Level in Nearly Two Years
For the fifth consecutive month, average asking rents in Canada have declined year-over-year, reaching their lowest level since July 2023.