US new home sales soar in October

(December 09, 2013)

·         New home sales in the US soared a whopping 25.4% to 444,000 in October 2013, thereby beating market expectations for 429,000 annualized unit sales in the month. This followed a 6.6% drop to 354,000 in September, also released in today’s report following delays as a result of the government shutdown in October.·         The inventory of unsold new homes declined by 3.7% to 183,000 in October from 190,000... read more.

Bank of Canada holds overnight rate at 1.0% and says substantial policy stimulus remains appropriate

(December 09, 2013)

·         The Bank of Canada left the overnight rate unchanged at 1.0% as was expected.·         Maintained neutral bias despite highlighting greater downside risks to inflation outlook as overall balance of risks in same ‘zone’ as October.·         The Bank is seemingly balancing the downside risks to the inflation outlook with upside risks being generated from maintaining interest rates at very low levels. The statemen... read more.