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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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Tensions Escalate in Gaza Amid Ceasefire Uncertainty

 

In a tragic turn of events, Israeli fire has claimed the lives of at least two individuals in Gaza, further intensifying fears that the fragile ceasefire between Israel and Hamas could collapse. The incident occurred in Rafah, with additional injuries reported in Khan Younis, located in the southern region of Gaza.

The ceasefire, which began in January, recently reached a critical juncture as its first phase concluded without a clear agreement on the next steps. Hamas has called for the initiation of a second phase, which would involve a permanent Israeli withdrawal and an end to the ongoing conflict. However, Israel has proposed a temporary extension of the truce, contingent on the release of hostages in exchange for Palestinian detainees.

Adding to the tension, Israel has imposed a total blockade on Gaza, halting the supply of essential goods such as food and fuel. This has left the 2.3 million residents of Gaza in dire straits, with skyrocketing prices and dwindling resources. The blockade has also led to heightened fears of renewed violence, as Israeli tanks and artillery have intensified their presence along Gaza's borders.

The international community is closely monitoring the situation, with mediators urging both sides to find a resolution. However, the path forward remains uncertain, as both Israel and Hamas hold firm to their respective demands.

This latest escalation underscores the precarious nature of the ceasefire and the urgent need for a sustainable solution to the long-standing conflict.

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