this post was submitted on 19 Oct 2023
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This is the best summary I could come up with:
"We have seen the annual rate of inflation has started to come down, but that doesn't mean that the level of prices is not [still] unaffordable for a lot of people," said CIBC senior economist Andrew Grantham.
Rents may now be the biggest concern on the Canadian inflation front," wrote BMO's chief economist Douglas Porter.
August to September data highlights how impactful even a minor rate increase is on affordability," said James Laird, co-CEO of Ratehub.ca and president of CanWise mortgage lender.
Consumers and especially businesses surveyed by the Bank of Canada say the full weight of all those rate hikes has yet to fully hit the economy.
Karl Schamotta, the chief market strategist of the financial payments company Corpay, says many experts believe Canada is headed for a soft landing (a scenario where the economy slows enough to get inflation under control but not so much that it slips into a recession).
Grantham says if we really are through the worst of the inflation crisis, then maybe the Bank of Canada can start gradually lowering borrowing costs.
The original article contains 909 words, the summary contains 177 words. Saved 81%. I'm a bot and I'm open source!
Pretty much no central bank ever lowers rates early enough to prevent a recession. The US has been teasing the tip of one for a year now, with rates going up. By the time they react and lower rates it will be way too late.