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Monday’s CPI Could Decide Your Next Mortgage Payment

  Canada lost 68,000 jobs in September. Inflation is sitting at 3%. The Bank of Canada has to decide on October 28 which of those facts matters more, and on Monday morning one more number lands to help it choose. If you carry a variable-rate mortgage, a HELOC or a renewal this winter, that number has a price tag. Two reports pulling in opposite directions The jobs data came first. Statistics Canada reported on October 9 that employment fell by 68,000 in September, pushing the unemployment rate to 6.5% from 6.4%. It followed a drop of about 42,000 in August, which means more than half of the 181,000 jobs gained between April and July have now been wiped out. Ontario shed 20,000 positions on its own. Markets reacted within hours: the odds of a quarter-point Bank of Canada hike on October 28 dropped to roughly 25% from about 40%, according to LSEG data reported by Reuters. Inflation is telling the opposite story. The consumer price index rose 3.0% year over year in August, matching Ju...
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Over 300 Dead After Flash Floods in Afghanistan

 


Flash floods resulting from unusually heavy seasonal rains in Afghanistan have claimed the lives of more than 300 people and destroyed over 1,000 houses, according to the United Nations food agency. The disaster struck the northern province of Baghlan, leaving devastation in its wake.

The floods, triggered by heavy rainfall, have wreaked havoc in the region. Zabihullah Mujahid, the chief spokesman for the Taliban government, confirmed the grim toll, stating that “hundreds have succumbed to these calamitous floods, while a substantial number have sustained injuries.” The situation remains dire as rescue efforts continue and communities grapple with the aftermath.

The World Food Agency is actively distributing fortified biscuits to survivors, providing essential sustenance during this crisis. The floods have disrupted lives, displaced families, and underscored the urgent need for disaster preparedness and response measures.

Our hearts go out to the affected communities, and we hope for swift recovery and support for those impacted by this natural disaster.


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