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Canada's Inflation Rate Hits 3-Year Low (Yes, it's Below the BoC Target)

Published 2024-10-16, 08:21 a/m
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In this episode, Canada’s inflation rate hit 1.6% in September, marking the lowest since 2021. Lower gas prices and easing rent increases drove the drop, but food costs remain stubbornly high. With inflation under the Bank of Canada’s 2% target for two months, could rate cuts be on the horizon? We break down what this means for the economy and your budget.

Also in this episode:

  • TD Bank’s $3B Fine and U.S. Growth Freeze TD Bank (TSX:TD) faces a $3.09 billion fine and asset cap after pleading guilty to money-laundering failures. With its U.S. retail growth stalled, the bank shifts focus to corporate banking as new leadership takes over in 2025.
  • Will Canada’s Housing Market Stay Stuck Until 2025? Despite rate cuts, Canada’s housing market is still struggling. The Canadian Real Estate Association (CREA) predicts a slow recovery, with home prices barely growing in 2024. Will the market finally rebound by spring 2025?

This content was originally posted on the Beavis Wealth YouTube Channel

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