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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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Russia Deploys Submarine as U.S.–Venezuela Tanker Standoff Escalates

 

The ship, currently between Iceland and the British Isles, has been accused of breaking US sanctions and shipping Iranian oil. It has historically transported Venezuelan crude oil.


Russia has sent a submarine and additional naval vessels to escort an oil tanker that the United States attempted to seize near Venezuela, escalating an already tense maritime confrontation. The tanker, recently renamed Marinera, was approached by a U.S. Coast Guard cutter as part of Washington’s efforts to disrupt sanctioned oil shipments linked to Venezuela.

Russian officials framed their naval deployment as a protective measure for a vessel they now consider under their jurisdiction. Footage released by Russian media showed the U.S. cutter shadowing the tanker as it continued its voyage after failing to load crude in Venezuelan waters.

The move highlights the growing geopolitical friction surrounding Venezuela’s oil trade, where U.S. sanctions and Russia’s support for Caracas frequently collide. Naval escorts of this nature are rare, and analysts say the involvement of a submarine signals Moscow’s willingness to challenge U.S. enforcement efforts more directly.

As the tanker proceeds across the Atlantic, both nations appear determined to stand firm, raising concerns about further escalation at sea.


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