Bank of Canada Governor Tiff Macklem warned that persistently high global energy prices will push up domestic inflation. Speaking on the sidelines of the International Monetary Fund meetings in Bangkok, he said the global economy has performed better than expected, but its resilience is increasingly under strain from Middle East conflicts and depleting strategic oil reserves. Canadian inflation has held at three per cent for two months, and he expects the new forecast to be quite a bit higher than the July projection of around 2.5 per cent for the second half of the year. The central bank will assess Statistics Canada's September inflation report and is prepared to raise rates if price pressures spread. Macklem also expressed confidence in Canada, citing relative stability of the Canadian dollar and early signs of recovery and investment.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on winnipegfreepress.com ↗
Keywords
Canadainflationinterest ratescentral bank
Open a keyword to see other news on the same topic.
Related news
- Statistics Canada set to release September inflation figures
Statistics Canada said annual inflation rose to 3.1% in September, led by a 27.8% jump in gasoline prices from a year earlier as Middle East war kept pushing up fuel costs, despite the switch to cheaper winter gas. Excluding gasoline, consumer prices rose 2.2%, while fuel oil surged 57.8%, hitting Atlantic Canada hard where many homes are heated with oil. Grocery inflation slowed to 1.7%, its smallest annual rise since May 2024, as fresh vegetables fell 2.9% and sugar and confectionery dropped 2.7%, while beef rose 8.7% after 11% in August. Shelter prices rose 1.8%, up from 1.5% in August, driven by a 4.9% rise in mortgage insurance and a 1.2% increase in home maintenance and repair costs. The report is the Bank of Canada's last look at price data before its Oct. 28 rate decision; economists had expected 3.2%, and CIBC's Andrew Grantham said the figures suggest there is little rush to raise rates.
- Statistics Canada set to release September inflation figures – Winnipeg Free Press
Statistics Canada is set to release September inflation data. A Reuters poll of economists expects inflation to rise to 3.2% in September, up from 3% in August. Economists say persistently high energy prices are the main driver and will watch for cost pressures spreading beyond gasoline. The report is the Bank of Canada's last look at price data before its October 28 rate decision; the central bank says it will look through initial effects from the Middle East war but is ready to hike if inflation spreads, and it will also release quarterly surveys on whether firms plan to pass supply chain costs to customers.
- Statistics Canada set to release September inflation figures
Statistics Canada is set to release September inflation data. A Reuters poll of economists expects inflation to rise to 3.2% in September, up from 3% in August. Economists say persistently high energy prices are the main driver and will watch for cost pressures spreading beyond gasoline. The report is the Bank of Canada's last look at price data before its October 28 rate decision; the central bank says it will look through initial effects from the Middle East war but is ready to hike if inflation spreads, and it will also release quarterly surveys on whether firms plan to pass supply chain costs to customers.
- Bank of Canada Macklem warns global resilience under strain
Bank of Canada Governor Tiff Macklem said persistently high global energy prices will push up Canada's inflation outlook, adding that global resilience is under strain as shocks persist. Speaking on the sidelines of the IMF meetings in Bangkok, he noted that strategic oil reserve releases are being depleted, and that Houthi attacks on Saudi Arabia, damage to Gulf refining capacity and the closure of the Strait of Hormuz leave no relief in sight for oil prices. Canadian inflation has held at 3% for two months, and Macklem expects the outlook to be quite a bit higher than the July forecast of about 2.5% for the second half of the year. The bank will release new forecasts with its October 28 rate decision and is prepared to raise rates if price pressures spread. Macklem nonetheless expressed confidence in Canada, citing a relatively stable Canadian dollar and early signs of recovery and investment.
- Bank of Canada Macklem warns global resilience under strain
Bank of Canada Governor Tiff Macklem warned that persistently high global energy prices will push up Canada's inflation outlook, saying global resilience is increasingly under strain as conflicts in the Middle East, Iran and Ukraine persist and strategic oil reserves are depleted. He said the Bank's updated forecast, due Oct. 28 alongside its rate decision, will show inflation quite a bit higher than the around 2.5% projected in July for the second half of this year, after Canadian inflation held at three per cent for two months. Macklem said the central bank has so far looked through the energy shock but is increasingly worried and prepared to raise rates if price pressures spread. He also expressed some confidence in Canada, citing relatively stable currency against the U.S. dollar, signs of investment recovery, and companies adapting to U.S. tariff uncertainty.
- Bank of Canada Macklem warns global resilience under strain – Brandon Sun
Bank of Canada Governor Tiff Macklem warned that persistently high global energy prices will push up domestic inflation. Speaking on the sidelines of the International Monetary Fund meetings in Bangkok, he said the global economy has performed better than expected, but its resilience is increasingly under strain from Middle East conflicts and depleting strategic oil reserves. Canadian inflation has held at three per cent for two months, and he expects the new forecast to be quite a bit higher than the July projection of around 2.5 per cent for the second half of the year. The central bank will assess Statistics Canada's September inflation report and is prepared to raise rates if price pressures spread. Macklem also expressed confidence in Canada, citing relative stability of the Canadian dollar and early signs of recovery and investment.
Related markets
Latest news
- CoreWeave Dropped 20% Last Week. Is It Time to Panic or Buy?
CoreWeave shares fell more than 20% as of Oct. 16, driven mainly by concerns over debt and spending. The company carries about $35 billion in total debt against $5.5 billion in cash, with net interest payments reaching $640 million in the second quarter alone, unsecured bond yields approaching 15%, and an S&P rating of B+. Capital expenditure was just over $16 billion in the first half of 2026 and could reach $39 billion for the year, roughly triple its $12.4 to $13.2 billion revenue guidance. States are also weighing restrictions on data centers. On the positive side, second-quarter revenue rose 112% year over year and the backlog exceeded $104 billion. The author has reservations and sees the drop as an opportunity only for the most risk-tolerant investors, who might build a position slowly, while the company needs to prove it can convert its backlog efficiently and manage debt.
- Apple’s iPhone Duo Sold Out In Minutes. The Last Time Apple Reinvented The Phone, One Apple Supplier’s Stock Soared About 1,200% In A Decade
Apple's first foldable iPhone, the iPhone Duo, sold out within minutes of its worldwide preorders opening on Oct. 16, but buyers who ordered more than an hour later face a delay of nearly three months, according to Korea JoongAng Daily, which puts the U.S. starting price at $1,999. One unnamed supply-chain source said Foxconn's final-assembly yield was just above 60% heading into late September, against the 90%-plus rate Apple typically expects, and the hinge, which holds more than 100 parts, is cited as a constraint. Analyst Jeff Pu cut his 2026 shipment estimate from 7 million to 6 million, while reported forecasts range from about 6 million to 10 million units. The article also recalls that Skyworks Solutions, identified as the power-amplifier supplier of the original iPhone, rose about 1,200% over a decade, though those figures cover price only.
- Why Sandisk Stock Shot Higher Today
Sandisk shares jumped as much as 8.3% and were still up 7.9% at 11:24 a.m. ET, helped by a tech rebound and positive news in high-bandwidth memory (HBM). Nvidia has developed NVHBM, a custom HBM die with 15% lower power consumption and 30% higher bandwidth that links NVLink and HBM chips. A Seoul Economic Daily report says Nvidia asked Samsung Electronics to use TSMC's 3-nanometer process to make NVHBM dies, the first such collaboration between the two. Nvidia has also approached Micron and SK Hynix to standardize the process, which could free compute-die space for up to 30% additional compute. The article argues this suggests AI adoption still has room to grow, which would also benefit memory suppliers, and notes Sandisk trades at 19 times earnings and 6 times forward earnings.
- JPMorgan Picks Ethereum for JPM Coin, Citing the Network’s Liquidity and Client Use
JPMorgan is launching JPM Coin, its dollar deposit token, on Ethereum and will offer it to institutional clients there, as announced Monday and reported by Bloomberg. Emma Landriault, global head of Kinexys Labs, said Ethereum's liquidity and the fact that the bank's clients already use it drove the choice. The token targets large crypto firms that pay onchain and financial institutions active in tokenized assets, which can use it as onchain cash to settle trades or as collateral. JPM Coin debuted last year on Base, and it lets clients move dollars in seconds at any hour, whereas a transfer can otherwise take several days. JPMorgan's private Kinexys network already handles daily volume above $7 billion, the bank's payments arm handles around $12 trillion in daily payments, and Open Standard launched its OUSD stablecoin on Ethereum, Solana, Base and Tempo last month.
- Prediction : Amazon Next Chapter Could Be Its Most Important One Yet
24/7 Wall St. sets a price target of $332.67 for Amazon (AMZN), 30.4% above the current $255.20, and rates the stock a buy with 70% confidence. The thesis rests on AWS, which grew 37% last quarter, its fastest pace in 18 quarters, while Amazon plans to spend about $200B in 2026 on AI infrastructure, chips, robotics and satellites. The article flags risks: trailing free cash flow turned negative at about -$7.6B after second-quarter capex rose 68.44%, and long-term debt climbed to $119.1B from $65.6B. It compares Amazon's valuation with Microsoft and Alphabet, and says the author would stay constructive if AWS growth stays above 30% and free cash flow turns positive in 2027.
- Explainer - What behind Egypt move towards possible military involvement in Saudi - Yemen conflict ?
Egypt's parliament is expected to vote next week on authorising its armed forces to help defend Saudi Arabia against Houthi attacks from Yemen, if Riyadh requests support. President Abdel Fattah al-Sisi made the request in a Saturday speech, a clear escalation from Cairo's measured tone since the Iran war began, though Egypt has not publicly committed to a direct combat role. Egypt relies heavily on Gulf states for remittances, aid and deposits, including a $5.3 billion Saudi deposit at Egypt's central bank due this month. Analysts say security concerns, including a July drone strike on two gas vessels at Damietta and shared interest in Red Sea shipping, are pushing Cairo toward a more active stance. Egypt receives about $1.3 billion a year in US military aid and previously sent air and naval forces to the Saudi-led coalition in Yemen in 2015.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.