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Canada Holds Steady: Interest Rate Pause Signals Cautious Confidence

                      The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. The Bank of Canada has opted to keep its key interest rate at 2.25% , a move that underscores a careful balancing act as the country approaches a pivotal moment in North American trade relations. With CUSMA (the Canada‑United States‑Mexico Agreement) negotiations on the horizon, policymakers appear intent on maintaining stability while assessing potential economic turbulence. The decision reflects a mix of optimism and prudence. Inflation has been easing gradually, giving the central bank some breathing room. At the same time, global economic uncertainty and the high stakes of upcoming trade talks mean officials are reluctant to introduce new variables into the financial system. By holding the rate steady, the Bank of Canada signals confidence in the economy’s underlying resilience while acknowledgin...
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How Inflation and Longer Sales Season Will Affect Black Friday Shopping in 2023



Black Friday, the biggest shopping event of the year, is approaching fast. But this year, shoppers may face some challenges and changes due to the impact of inflation and the longer sales season.

Inflation, which is the general increase in the prices of goods and services, has been rising steadily in 2023. According to the U.S. Bureau of Labor Statistics, the consumer price index (CPI) increased by 5.4% in September 2023 compared to the same month last year. This means that consumers have to pay more for the same items they bought before.

Inflation can affect Black Friday shopping in several ways. First, it can reduce the purchasing power of consumers, especially those with fixed or low incomes. Second, it can make the discounts offered by retailers less attractive, as they may not be enough to offset the higher prices. Third, it can create uncertainty and anxiety among consumers, who may postpone or cancel their purchases due to the fear of further price increases.

Another factor that can influence Black Friday shopping in 2023 is the longer sales season. Due to the pandemic and the shift to online shopping, many retailers have started offering deals earlier and extending them beyond the traditional Black Friday weekend. For example, Amazon launched its Holiday Dash event on October 15, 2023, which offers daily deals until November 19, 2023. Walmart also announced its Deals for Days event, which will run from November 3 to November 28, 2023.

The longer sales season can have both positive and negative effects on Black Friday shopping. On the one hand, it can give consumers more time and options to find the best deals and avoid the crowds and stress of shopping on a single day. On the other hand, it can also reduce the sense of urgency and excitement that Black Friday generates, as well as the potential savings that consumers can get from buying on the day itself.

Therefore, Black Friday shopping in 2023 may be different from previous years, as consumers and retailers have to adapt to the new economic and market conditions. Consumers may have to be more careful and strategic with their spending, while retailers may have to offer more incentives and value-added services to attract and retain customers.

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