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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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Loblaw to invest $1.3 billion in new stores and e-commerce

Loblaw Companies Ltd., Canada’s largest grocery retailer, announced on Monday that it plans to build more than 40 new stores and renovate over 100 existing ones this year. The company said it will invest $1.3 billion in its expansion plan, which will also include improving its e-commerce and digital capabilities.

The new stores will include both grocery and pharmacy banners, such as Loblaws, Zehrs, Shoppers Drug Mart, and No Frills. The company expects to create about 5,000 new jobs across the country as a result of the expansion.

Loblaw said the investment will help it meet the changing needs and preferences of its customers, especially amid the COVID-19 pandemic. The company has seen a surge in online sales and delivery demand, as well as a shift to more local and fresh products.

“We are investing in our business at a time when many customers are changing how they shop and what they buy,” said Sarah Davis, president of Loblaw. “We are accelerating our investments in online grocery and expanding our store network to ensure we meet the needs of Canadians today and in the future.”

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