Canadian inflation rose more than expected and underlying price pressures accelerated, stumbles that could dissuade policymakers from cutting interest rates for a second consecutive 50 basis points next month.
The first acceleration in headline inflation in five months may strengthen the Bank of Canada’s case for gradually lowering borrowing costs, after officials stepped up the pace of easing in October.
Housing starts in October fell to the slowest pace in three months as hurricanes exacerbated the easing of overall construction activity and residential construction struggled to gain momentum this year on the back of a growing number of new homes for sale and mortgage rates near 7%.
Trump’s “fracking” pledges are about to collide with a global crude glut that is set to finally ease record shale production.
