Inflation

Why cash-strapped Canadians could soon be pushed to bankruptcy

“Wickedly high.” That’s how Doug Hoyes describes the amount of debt Canadians are carrying. And he would know: the licensed insolvency trustee spends his days working with people who are drowning in debt, at a time when consumer insolvencies are hitting the highest levels since the start of the pandemic. Interest rates are rising, a …

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Inflation accelerated even more than expected in August

Inflation in August was stronger than expected despite the Federal Reserve’s efforts to bring down prices, according to data Friday that the central bank follows closely. The personal consumption expenditures price index excluding food and energy rose 0.6% for the month after being flat in July. That was faster than the 0.5% Dow Jones estimate …

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Fed Vice Chair Brainard warns against retreating from inflation fight prematurely

US Federal Reserve board member Lael Brainard speaks after she was nominated by US President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, US, November 22, 2021. Kevin Lamarque | Reuters Federal Reserve Vice Chair Lael Brainard …

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Euro zone inflation soars to a record 10%, piling pressure on the European Central Bank

Christine Lagarde, European Central Bank (ECB) president addresses a news conference following the ECB’s monetary policy meeting in Frankfurt, Germany, September 8, 2022. Kai Pfaffenbach | Reuters Euro zone inflation hit a new record high of 10% in September, Eurostat data showed on Friday, up from 9.1% in August and above consensus projections of 9.7%. …

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Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, …

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Will the coming recession be ‘mild’? Perhaps. But painless? Don’t count on it

A fourth forecaster has projected a little recession for Canada, and this time it’s supposed to start next week. Deloitte Canada joins economists at Bank of Montreal, Desjardins and Royal Bank in seeing two straight quarters of “mild” economic contraction in our near future — perhaps as soon as the fourth quarter of 2022 which …

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10-year yield rises, reversing some of Wednesday’s major losses

Treasury yields climbed higher across the board on Thursday, with the 10-year note reversing some of the losses it made on Wednesday after the Bank of England launched a bond-buying plan designed to stabilize market chaos in the UK The yield on the benchmark 10-year Treasury was at 3.8420%, up by 13 basis points at …

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Bad News For Oil Prices As Economists Predict Aggressive Action From The Fed

Interest rate hikes by the Federal Reserve as it struggles to rein in inflation have spurred expectations of a recession and the related negative implications for oil prices. Now, economists expect the Fed to hike higher than previously thought and fears of a recession are growing. A poll conducted by Reuters suggests that the Fed …

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Prices for these basic items are going up even more in Canada but for a new reason

While the last few months have had most Canadians overstretched financially, prices for many more basic household necessities are about to get even higher, but not just because of inflation rates (which are finally starting to slow their upward trajectory, but are still more than double the long-term average). Experts are now warning that the …

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