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Immigration cuts will help narrow Canada’s housing gap but won’t solve crisis

The drastic reduction in immigration targets announced by the federal government is one of the more consequential policy reversals in recent memory.
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Proof point: Why Canada is seeing an uneven recovery among households

Households in aggregate are sitting on record levels of savings. But under the surface, there are clear signs the average Canadian consumer is suffering.
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U.S. GDP Update

The economy expanded an annualized 2.8% in Q2, almost double the 1.4% growth rate in Q1.
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U.S. Labour Market

October’s payroll gain was heavily distorted by the impact of hurricanes, a large manufacturing sector strike, and an unusually low survey response rate.
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Canadian GDP Update

GDP data in Canada continues to paint a soft picture of the economy, with output growth stagnating in August and downward revisions to June and July growth.
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Podcast: The 10-Minute Take

Claire Fan and Carrie Freestone discuss the jumbo BoC interest rate cut, why it was bigger and what to expect going forward, given the new immigration targets.
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