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Latest Insight

Three reasons why 2024’s 2% inflation isn’t 2019’s 2%

Forward Guidance

Canadian July GDP to show modest growth but below BoC forecast

Economic Analysis

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Fed cuts 50 basis points with more to come

September 18, 2024

The Fed took pains to reinforce the view that this initial 50 basis point cut is the beginning of a "recalibration" cycle.

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Canada’s debt servicing ratio ticked up to 15% in Q2

September 12, 2024

The increase was driven by a greater surge in debt payments (+2.3%) relative to growth in disposable income (+1.8%).

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Featured Insights

Three reasons why 2024’s 2% inflation isn’t 2019’s 2%

September 25, 2024

Canada is back at 2% inflation, but it’s too soon to pop the champagne. What’s driving prices now looks very different from before the pandemic.

Podcast: The 10-Minute Take

September 20, 2024

Claire Fan, Carrie Freestone and Frances Donald unpack the Fed’s latest rate cut and signs emerging from the U.S. economy.

RBC Consumer Spending Tracker

September 19, 2024

Canadians’ spending plateaued over the summer with further signs of slowing momentum in August.

Falling inflation, rising jobless rate usher in easing cycles in Canada and abroad

September 18, 2024

The Canadian economy has continued to underperform global peers with declines in per-capita output in seven of the last eight quarters.

RBC Canadian Inflation Watch

September 17, 2024

Lower oil and gasoline prices pushed headline inflation down, from 2.5% year-over-year in July to 2%.

RBC U.S. Inflation Watch

September 11, 2024

Another downside surprise in U.S. inflation in June adds to market odds of a first rate cut from the Fed in September.

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Canadian Housing

Canada’s housing market still in a wait-and-see mode

September 16, 2024

Interest rates may be coming down, but most Canadian homebuyers remain unconvinced that now is the right time to make a purchase.

Rate cuts have yet to pull Canada’s housing markets out of their slump

September 6, 2024

Early reports on August home sales showed only small increases in most markets including Vancouver, Calgary, Edmonton, Toronto and Montreal.

Housing market activity static again after June bump

August 15, 2024

Resales pulled back modestly—dipping 0.7% between June and July at the national level—partially offsetting a 3.5% advance in June.

Housing markets look for deeper rate cuts to ramp up activity

August 8, 2024

After a small uptick between May and June, home resales fell again in some markets including Vancouver, Calgary and Toronto.

Rate cut gives small boost to Canada’s housing market

July 12, 2024

The first Bank of Canada interest rate cut in four years brought some energy to Canada’s housing market in June.

Inventories rebuilding fast in largest housing markets

July 8, 2024

Transactions increased across the board with more buyers coming to the housing market. But buying was far from enough to absorb the new inventory that’s been accumulating for months.

See all Canadian Housing Articles

Economy and Markets

Falling inflation, rising jobless rate usher in easing cycles in Canada and abroad

September 18, 2024

The Canadian economy has continued to underperform global peers with declines in per-capita output in seven of the last eight quarters.

Ease on down the road – Fed shifting gears as inflation slows

September 11, 2024

Softening U.S. labour markets and lower inflation leave the Fed on track to kick of an easing cycle starting in September, one of the last major central banks to do so.

Stayin’ Alive: The U.S. labour market is weakening, not faltering

August 14, 2024

More central banks are committing to cutting interest rates from elevated levels.

At Last: U.S. economy is showing signs of softening

July 11, 2024

We now expect the Fed to cut rates in September—earlier than our prior December assumption—with a gradual easing cycle to follow.

Let me see you get low: central banks kick off rate cutting cycle

June 13, 2024

Bank of Canada and ECB both kickstarted the easing cycles in June but neither is expected to race rates to the bottom.

Rate cuts won’t spur immediate rebound in Canada’s economy

June 12, 2024

The global economic growth backdrop has shown signs of improvement, but Canada’s economy continues to underperform.

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Provincial Outlook and Fiscal Analysis

Falling inflation, rising jobless rate usher in easing cycles in Canada and abroad

September 18, 2024

The Canadian economy has continued to underperform global peers with declines in per-capita output in seven of the last eight quarters.

Rate cuts won’t spur immediate rebound in Canada’s economy

June 12, 2024

The global economic growth backdrop has shown signs of improvement, but Canada’s economy continues to underperform.

Federal Budget 2024: Lack of spending restraint offset by revenue surprise and tax hikes

April 16, 2024

Budget 2024 showed a slightly worse bottom line throughout the federal government’s fiscal plan compared to previous estimates but kept...

Manitoba Budget 2024: Deficit cut in half but debt burden continues to grow

April 3, 2024

The provincial debt burden is expected to be the heaviest on record, reaching 39.1% of gross domestic product by fiscal 2025-26.

Ontario Budget 2024: Balancing priorities, not the books

March 27, 2024

Province anticipates $9.8 billion deficit, scrapping last year’s plan for a surplus ($200 million) in 2024-25. Return to balance has...

Newfoundland and Labrador Budget 2024: Higher spending leads to another year of deficits

March 22, 2024

Newfoundland and Labrador projects a $152 million budget shortfall in 2024-25, scrapping surplus plans for the upcoming fiscal year. Revenues...

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Forecasts & Data

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