Here is the latest market commentary provided by First National Financial LP.
Canada’s latest inflation numbers have once again turned attention toward the Bank of Canada’s plans for interest rate increases.
Core inflation – which the central bank uses for its policies – jumped by an unexpected 4-tenths to 2.1% in August. However that is still well within the Bank’s target range and it remains to be seen if this is a sustained acceleration that could require interest rate intervention. Most of August’s gains came from an out-sized jump in phone bills.
Of course the American influence remains strong and the U.S. Fed has quieted the debate about its next move. The FOMC’s latest policy statement continues to use the phrase “considerable time” when referring to its pledge to keep borrowing costs down. The Fed also indicated it would like to see stronger employment numbers before raising rates.
If you have questions or need some advice or help with your mortgage, please contact me.