Canada's rate market needed a win like this, and it got it. #Average core inflation# has delivered again. For the first time since the seemingly ancient days of mid-2021, it starts with a "2." Today's welcomed report read as follows: * Headline inflation: 2.9%

It's been one of the most action-packed weeks for Canadian housing policy in years. But before we unwrap that, let's talk about what's expected to be a volatile week for rates—following Iran's attack on Israel.

The BoC left its target rate anchored at 5% this morning, but hold the phone—it just got upstaged — by U.S. inflation. America's reaccelerating CPI data stole the show this morning, sending bond traders into a bearish frenzy. The BoC left the beacon on for 2024 rate