| Mortgage costs continue to drive inflation |
Thanks to a drop in gasoline prices, Canada's inflation rate moderated to 2.8% in June. Inflation is now within the Bank of Canada's 1 to 3% target range, but surging mortgage costs are part of a dynamic that's helping it stick around.
On the other hand, early estimates suggest consumer demand may have fallen in June, and tighter financial conditions continue to take a toll on Canadian households and businesses.
In this month's market update, we take a closer look at the Canadian economy, why the U.S.'s short-term interest rate is the highest its been since 2001 and how high debt is contributing to weakness in the Chinese economy |
Read the full market commentary on canadalifeinvest.ca, including the following topics:
- Higher mortgage costs keeping Canada's inflation elevated
- Softening Canadian consumer demand weighing on sales data
- The Fed's fight against inflation continues
- China's economy shows underlying weakness
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