Canada’s housing market will have a “soft landing” after years of strong gains and recent steps by policy makers to curb demand, said Michael Gregory, senior economist at BMO Capital Markets.
The Bank of Montreal reduced its forecast for how fast Canada’s central bank will raise its key interest rate, citing Europe’s debt crisis and evidence of sluggish U.S. economic growth.
Bond sales by Canadian provinces surged in the third quarter to the highest in almost a decade as borrowers took advantage of record-low interest rates and steady investor appetite to raise funds.
Dundee Real Estate Investment Trust and Calloway REIT are bearing the brunt of a rout among real estate, utility and telecommunications shares as rising bond yields reduce demand for high-dividend stocks.
Bank of Canada Senior Deputy Governor Tiff Macklem, who may be promoted to lead the central bank later this year, said economic growth is slower than expected and will accelerate later this year.
Bank of Montreal named Michael Gregory deputy chief economist and head of U.S. economics, relocating him to Chicago, according to Vlaad & Co., a Toronto- based financial services recruiting firm.
Bank of Canada Governor Stephen Poloz laid out some new words for talking about the future of interest rates, lacing his comments with analogies about lost sailors, Mother Nature and sick patients.
"It's steady as she goes for Bank of Canada policy."
- Michael Gregory on Dec 03, 2014
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