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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's Tariff Blitz: EU and Mexico Face 30% Import Duties Amid Trade Tensions

In a dramatic escalation of global trade tensions, President Donald Trump announced on Saturday that the United States will impose 30% tariffs on imports from the European Union and Mexico, effective August 1st. The move follows weeks of stalled negotiations and marks a renewed push in Trump’s aggressive trade strategy.

Trump made the announcement via letters posted on his Truth Social account, citing the U.S. trade deficit with the EU and Mexico’s failure to curb fentanyl trafficking and illegal migration as key reasons for the new levies. He emphasized that the tariffs are intended to protect American manufacturing and national security interests.

The European Union responded swiftly, with Commission President Ursula von der Leyen warning that the tariffs would “disrupt essential transatlantic supply chains” and pledging proportionate countermeasures if negotiations fail. Mexico’s President Claudia Sheinbaum expressed hope for a resolution before the deadline, while reaffirming that Mexico’s sovereignty is non-negotiable.

The tariffs are part of a broader campaign by Trump, who has issued similar threats to over 20 other countries, including Canada, Japan, and Brazil, with rates ranging from 20% to 50%. Analysts warn that the sweeping measures could trigger a global trade backlash and strain diplomatic ties.

As the August deadline looms, all eyes are on whether Trump will hold firm or soften his stance—something he has done in previous tariff standoffs. Either way, the world’s largest trading relationships are entering a volatile new chapter.

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