Why Spiking Inflation Won’t Impact Canadian Mortgage Rates
Statistics Canada confirmed that our Consumer Price Index (CPI) rose by 0.7% on a year-over-year basis in October. The increase was led by food prices and costs associated with housing construction, which rose at their fastest pace in fourteen years.
While last month’s result came in far above the consensus forecast of 0.4%, our overall CPI remains well below the Bank of Canada’s (BoC) target of 2%.
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Article Written By: David Larock
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