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  • Frank Tian

๐Ÿ‡จ๐Ÿ‡ฆ Canada Rate Decision Today (Updated)

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.

๐ŸŸฆ Sep inflation 6.9% vs. the peak of 8.1% in June.

The strong employment market offers a cushion for a higher rate.

๐ŸŸฉ Sep unemployment rate 5.2% vs. 5.7% in Feb 2020

๐ŸŸฉ July saw # of job vacancies at 964K

The housing market is crumbling under the high rate.

๐ŸŸฅ Sep avg sales price down 22% from Feb high.

๐ŸŸฅ Subprime variable mortgage holders face the biggest pressure.

๐Ÿ”น23 posts to catch up in Q3

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