Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Canada's Q1 Deficit Narrows Sharply as Revenue Surges 9.8%
Canada's federal deficit narrowed to C$370M in Q1 as revenue surged 9.8%, but debt charges climbed 6.1%, keeping bond markets cautious.
Mortgage Rates Climb to 6.95%, Adding $51 to Monthly Payments
The average 30-year fixed mortgage rate rose to 6.95%, up 19 basis points from last week, marking the highest level since January 2025 and adding $51 to monthly payments on a $400,000 loan.
UK August Retail Sales Beat Forecasts as Online Purchases Rebound
UK retail sales unexpectedly rose 0.5% in August, driven by a rebound in online spending, though fuel volumes fell. The data may influence Bank of England rate decisions.
Montenegro Claims €100M Fiscal Boost from Anti-Smuggling, Gambling Crackdown
Montenegro's deputy PM claims €100M fiscal gain from tobacco and gambling enforcement. Investors seek clarity as budget data shows improvement.
Gasoline Surges 17 Cents as Fed's Inflation Fight Faces New Test
U.S. gasoline prices hit $4.47, up 17 cents in a week, complicating the Fed's inflation fight after its rate hike. Investors eye CPI data and the Fed's October meeting.
UK Minimum Wage Set at £12.71 for 2026; £13.18 Is a 2027 Projection
The UK’s adult minimum wage is £12.71 an hour in 2026. A £13.18 figure often cited is a 2027 projection, not law. Investors should assess payroll impact.
Alberta Independence Cost Estimate: Up to C$170B in First Five Years
Alberta's commissioned report estimates first five years of independence cost C$50B-C$170B, with debt soaring to 88.5% of GDP. October 19 referendum looms.
Ontario Minimum Wage Hits C$17.95: Cost Cap for Investors
Ontario's minimum wage increases to C$17.95 on October 1, affecting 700,000 workers. The C$510 million direct cost estimate is a ceiling, not a forecast. Retail and restaurant stocks face exposure.
Pending Home Sales Inch Up in August, Annual Decline Persists
Pending home sales edged up 0.3% in August, but remain 4.7% below last year. Homebuilder ETFs (ITB, XHB) dipped slightly after the data release.
Bank of Canada's Rate-Hike Trigger: Core Inflation Spillover
Bank of Canada minutes define rate-hike trigger: energy pass-through to core inflation. Core CPI near 2%, but tariffs and soft labor market may delay action.
BoE Holds Rates at 3.75%, Unveils Long-Term Gilt Reduction Plan
The Bank of England held rates at 3.75% and announced a plan to reduce its gilt holdings by £368 billion by 2034. Inflation expectations were revised higher.
Mortgage Demand Slips 4.1% as 30-Year Rate Nears 7%
Mortgage applications dropped 4.1% last week as the 30-year rate rose to 6.97%, with purchase demand 19% below last year and refinancing down 65%.