Average MLS® Residential Prices: The total dollar sum of all sold prices for single family homes, townhouses, and condominiums. divided by the total number of units sold.
BC’s Restart Plan: The BC Restart Plan takes a phased approach to mitigate the impacts of COVID-19. Each phase provides guidance for individuals and businesses. https://www2.gov.bc.ca/gov/content/safety/emergency-preparedness-response-recovery/covid-19-provincial-support/phase-4
- Phase 1: British Columbia acted quickly to protect seniors and people at risk and to ensure our health care system could respond to COVID-19.
- Phase 2: Essential travel only, physical distancing, restart of many businesses including those that were ordered closed.
- Phase 3: Smart and safe travel within the province, restart of in-person K-12 and post-secondary classes.
- Phase 4: In Phase 4, people can gather in large groups and international tourists will be welcomed to B.C.
Capital Markets: Capital markets are exchanges where savings and investments are channelled between suppliers who have capital and those who are in need of capital. Those who have capital are retail and institutional investors while those seeking capital are businesses, governments, and people. https://www.investopedia.com/terms/c/capitalmarkets.asp
CERB: The Canada Emergency Response Benefit (CERB) gives financial support to employed and self-employed Canadians who are directly affected by COVID-19. https://www.canada.ca/en/services/benefits/ei/cerb-application.html
CEWS: The Canada Emergency Wage Subsidy (CEWS) provides financial support to Canadian employers who have seen a drop in revenue due to COVID-19.
Core CPI: Core inflation is the change in the costs of goods and services but does not include those from the food and energy sectors and these goods tend to be more volatile in price. https://www.investopedia.com/terms/c/coreinflation.asp
CRB: The Canada Recovery Benefit (CRB) gives income support to employed and self-employed individuals whose income has been directly affected by COVID-19 with a reduction of 50% or more.
CRSB: The Canada Recovery Sickness Benefit (CRSB) gives income support to employed and self-employed individuals who are unable to work because they need to self-isolate due to COVID-19 or have underlying health conditions that put them at greater risk of contracting COVID-19.
Dow Jones Industrial Average (DJIA): The DJIA tracks the 30 largest companies from different industries in the US and is widely viewed as a general health indicator of the financial markets. https://www.investopedia.com/terms/d/djia.asp
GDP: Gross domestic product is the total market value of all the finished goods and services produced in a region over a specific time period and is a common indicator in measuring the expansion or contraction of an economy. https://www.investopedia.com/terms/g/gdp.asp
Housing Market: The housing market refers to the supply and demand for houses in a country or region. https://www.economicshelp.org/blog/glossary/definition-of-the-housing-market/
Housing Start: Housing starts refer to the number of new residential construction projects that begin during a period of time. https://www.investopedia.com/terms/h/housingstarts.asp
Labour Force: The employed are persons having a job or business, whereas the unemployed are without work, are available for work, and are actively seeking work. Together the unemployed and the employed constitute the labour force. https://www150.statcan.gc.ca/n1/pub/81-004-x/def/4153361-eng.htm
Unemployment Rate: The unemployment rate is the percent of the labour force that is jobless. https://www.investopedia.com/terms/u/unemploymentrate.asp
Overnight Target Rate: The overnight rate is the interest rate at which major financial institutions borrow and lend one-day funds among themselves. https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
Prime Rate: The prime rate is the interest rate that commercial banks charge their most creditworthy corporate customers. https://www.investopedia.com/terms/p/primerate.asp
S&P/TSX Composite Index: In 1977, the TSE 300 index was created, comprising of the 300 largest companies on the TSX. In 2002, Standard and Poor’s took responsibility of the index and renamed it the “S&P/TSX Composite Index”. https://www.investopedia.com/terms/s/sp-tsx-composite-index.asp
Spot Price: The spot price is the current price in the marketplace at which a given asset. https://www.investopedia.com/terms/s/spotprice.asp
West Texas Intermediate (WTI): West Texas Intermediate crude oil is a specific grade of crude oil and is one of the three main benchmarks in oil pricing. https://markets.businessinsider.com/commodities/oil-price?type=wti