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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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Wall Street Poised for Higher Open Ahead of Fed Decision


U.S. stock futures are pointing to a higher open on Wednesday as investors gear up for the Federal Reserve's upcoming decision on interest rates. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures are all showing gains, indicating a positive start to the trading day.

Market participants are eagerly awaiting the Federal Reserve's announcement, with many expecting a quarter-percentage point cut in the federal funds rate. This anticipated move comes as the Fed aims to support a slowing job market while keeping inflation in check.

Investors are also keeping an eye on the Fed Chair Jerome Powell's remarks following the decision, as his comments could provide further insights into the central bank's future monetary policy direction.

The premarket optimism follows a week of mixed economic reports and comes ahead of the Fed's last meeting of the year. Analysts believe that a series of rate cuts could help boost the economy and support investment prices, although there are concerns about potential inflationary pressures.

As the market awaits the Fed's decision, all eyes will be on how the central bank navigates the delicate balance between fostering economic growth and maintaining price stability.



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