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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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Ukraine’s Leadership Shifts Amid Wartime Pressures

 

Ukrainian Prime Minister De offnys Shmyhal hasicially resigned, marking the beginning of a sweeping government reshuffle orchestrated by President Volodymyr Zelenskyy. Shmyhal, who has served since March 2020, announced his departure via Telegram, expressing gratitude to Ukraine’s defenders and the presidential administration.

President Zelenskyy has nominated Yulia Svyrydenko, the current Deputy Prime Minister and Economy Minister, to succeed Shmyhal. If confirmed by parliament, she will become Ukraine’s first female prime minister. Svyrydenko has played a pivotal role in international negotiations, particularly with the United States, and is expected to focus on boosting domestic weapons production and economic reform.

The reshuffle comes at a critical juncture in Ukraine’s war with Russia, as military pressure intensifies and foreign aid faces uncertainty. Zelenskyy has also proposed appointing Shmyhal as the new Minister of Defense, replacing Rustem Umerov, who may be reassigned as ambassador to Washington.

Parliament is set to vote on the new appointments later this week, with Zelenskyy’s party holding a majority that is likely to ensure swift approval.

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