At 10 am eastern, the Bank of Canada increased its policy interest rate for the sixth time this year to combat inflation. The latest increase was 50 basis points, roughly what the market anticipated, driving the Bank’s overnight rate up to 3.75%. Bringing inflation back to the Bank’s 2% target may take time and result in more monetary tightening before the job is done. We follow the Bank’s commentary and outlook closely and summarize both on our website. As much as we might l

Inflation and rising interest rates are having a very real affect on Canadian spending habits and housing affordability according to a pair of new reports. The latest survey by the Angus Reid Institute suggests that nearly 90% of Canadians are “tightening their belts” as a result of rising costs, an 8-point increase from August. Most (66%) are cutting back on discretionary spending but fully half are delaying major purchases like appliances, cars and homes. More than a quart