Canada's banking regulator proposes to purge higher-risk borrowers from the mortgage market. OSFI says it's worried about banks being "exposed to heightened risks" from record indebtedness, potential recession and multi-decade highs in interest rates. Encouraging lower indebtedness "reduces the probability of borrower default

BMO Capital Markets published the chart below on Tuesday. It shows inflation over the last five years versus the 1970s. It's based on U.S. CPI data but Canadian inflation has almost a 90% correlation with American inflation.