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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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Israeli Tanks Advance in Rafah, Forcing Residents to Flee Again

 

In a distressing escalation of violence, Israeli tanks, backed by warplanes and drones, have penetrated deeper into the western part of the Gaza Strip city of Rafah. According to residents and Palestinian medics, eight people lost their lives in this latest incursion. The tanks moved into five neighborhoods after midnight, leaving a trail of destruction and panic among the population.

The Al-Mawasi area, further west of the coastal enclave, bore the brunt of heavy shelling and gunfire. Displaced Palestinians, who had already fled their homes due to previous Israeli strikes, sought refuge in tent camps. However, even these temporary shelters were not spared as bullets and shells rained down on them.

Despite international efforts to mediate a ceasefire, the conflict persists. Israel’s stated goal of wiping out Hamas and freeing Israeli hostages remains unmet, while Gaza continues to suffer. The Rafah crossing, the primary link for most of Gaza’s population with the outside world, lies in ruins, its buildings burnt, and Israeli tanks now positioned there.

As the situation remains dire, the world watches, hoping for an end to the violence and a path toward peace. But for now, the people of Rafah face another night of horror, caught in the crossfire of a seemingly unending conflict.

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