BoC hiked the rate by another 50 bps, which brings the cumulative rate hike this year to 350 bps.
The increase is lower than the market-anticipated 75 bps, as the central bank is trying to strike a balance between the inflation fight and economic activity.
🟦 Sep inflation 6.9% vs. the peak of 8.1% in June.
The strong employment market offers a cushion for a higher rate.
🟩 Sep unemployment rate 5.2% vs. 5.7% in Feb 2020
🟩 July saw # of job vacancies at 964K
The housing market is crumbling under the high rate.
🟥 Sep avg sales price down 22% from Feb high.
🟥 Subprime variable mortgage holders face the biggest pressure.
🔹If you enjoy this post, consider receiving content like this in your inbox
Comments