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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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Israel's New Gaza Strategy Sparks Global Concern

Israel has approved a plan to capture the entire Gaza Strip and maintain control over it for an unspecified period, according to Israeli officials. The decision, made in an early morning vote by Israeli cabinet ministers, marks a significant escalation in the ongoing conflict.

The plan aims to defeat Hamas and secure the release of hostages held in Gaza. However, it also involves the displacement of hundreds of thousands of Palestinians to southern Gaza, exacerbating an already dire humanitarian crisis. Since the collapse of a ceasefire in mid-March, Israel has intensified its military operations, capturing approximately 50% of Gaza and restricting humanitarian aid, including food, fuel, and water.

International opposition to the plan is expected to be fierce, with concerns over the long-term implications of Israel's extended presence in Gaza. The United Nations and humanitarian organizations have warned of severe shortages and worsening conditions for civilians. Meanwhile, Israel continues to engage with various countries regarding potential solutions, including controversial proposals for population relocation.

As the situation unfolds, global leaders and humanitarian groups are closely monitoring developments, urging diplomatic efforts to prevent further escalation and address the humanitarian crisis in Gaza.

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