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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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Ex-Russian Transport Minister Found Dead Amid Corruption Probe Fallout

Former Russian Transport Minister Roman Starovoit was found dead on Monday near his Tesla vehicle in the Moscow region, just hours after being dismissed from his post by President Vladimir Putin. Authorities confirmed that the 53-year-old had suffered a gunshot wound, and a pistol registered in his name was recovered at the scene.

Starovoit’s sudden death has sparked intense speculation, particularly as it follows his abrupt removal from office without explanation. Investigators are treating the case as a possible suicide, though they have not ruled out other scenarios.

Before his appointment as transport minister in May 2024, Starovoit served as governor of the Kursk region, where he oversaw a controversial defense infrastructure project. Allegations have since emerged that billions of rubles allocated for border fortifications may have been embezzled. His successor, Alexei Smirnov, was arrested earlier this year in connection with the scandal and reportedly implicated Starovoit during questioning.

The Kremlin has appointed Andrei Nikitin, former governor of the Novgorod region, as acting transport minister. No official statement has been made by the Transport Ministry regarding Starovoit’s death.

The incident adds to growing concerns over internal instability and accountability within Russia’s political elite, especially as the war in Ukraine continues to strain the country’s infrastructure and economy.

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