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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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Palestinian Prime Minister Shtayyeh Resigns: A Pivotal Moment for Palestinian Politics

 

In a significant development, Palestinian Prime Minister Mohammad Shtayyeh has submitted his resignation to Palestinian President Mahmoud Abbas. The move comes as the Palestinian Authority grapples with the aftermath of Israel’s war against the Islamist group Hamas in Gaza.

Shtayyeh, an academic economist who assumed office in 2019, cited the need for a broad consensus among Palestinians regarding political arrangements. The recent conflict in Gaza has underscored the urgency for reform and unity within the Palestinian leadership. Here are the key points:

  1. Context: The Palestinian Authority, established three decades ago under the interim Oslo peace accords, currently exercises limited governance over parts of the occupied West Bank. However, it lost control of Gaza in 2007 following a power struggle with Hamas.

  2. Emerging Reality in Gaza: Gaza has endured nearly five months of heavy fighting, leaving the region devastated. Shtayyeh emphasized that the next stage requires new governmental and political arrangements that account for this emerging reality in the Gaza Strip.

  3. National Unity Talks: Fatah, the faction controlling the Palestinian Authority, and Hamas have been engaged in efforts to reach an agreement over a unity government. A meeting in Moscow is scheduled for Wednesday to discuss governance for the Palestinians.

  4. U.S. Pressure and International Efforts: The resignation coincides with growing U.S. pressure on President Abbas to revitalize the Palestinian Authority. International efforts are underway to halt the fighting in Gaza and establish a stable political structure for the enclave.

While Shtayyeh’s resignation awaits acceptance by President Abbas, it marks a pivotal moment in Palestinian politics. As the nation grapples with challenges, the door to reforms swings open, inviting hope and uncertainty alike.


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