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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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Trump Extends Tariff Deadline, Escalates Pressure on Global Trade Partners

In a dramatic turn in U.S. trade policy, President Donald Trump has extended the deadline for new tariffs on seven countries to August 1, while simultaneously threatening steep new duties of up to 40% on imports from nations that fail to reach trade agreements with the United States.

The move comes as part of Trump’s broader push to enforce what he calls “reciprocal tariffs,” aimed at correcting long-standing trade imbalances. Letters sent Monday to leaders in Japan, South Korea, South Africa, Malaysia, and others outlined tariffs ranging from 25% to 40%, with additional penalties for goods deemed to be transshipped through those countries to evade duties.

Trump also issued a stark warning to countries aligning with the BRICS bloc—which includes Brazil, Russia, India, China, and South Africa—stating they would face an **extra 10% tariff** for adopting what he labeled “anti-American” policies.

Despite the aggressive rhetoric, the White House confirmed that the implementation of these tariffs would be delayed until August 1, giving trade partners a final window to negotiate exemptions or new deals. Treasury Secretary Scott Bessent emphasized that while the administration is open to agreements, the president is prioritizing the “quality” of deals over the “quantity”.

Markets reacted nervously to the announcement, with the S&P 500 dipping as investors braced for renewed trade volatility. Meanwhile, countries like Canada, the UK, and the EU remain in active negotiations, hoping to avoid the brunt of the tariffs.

This latest salvo underscores Trump’s unpredictable trade strategy—one that mixes hard deadlines with last-minute reprieves, keeping both allies and markets on edge.

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