The topic of the day remains the same: inflation. The results of volatile market movements continue to make themselves felt. On the other hand, inflation is improving; below is a short summary of summer events. Economic news will return to its regular format next month. Enjoy going back to school, everyone.


In mid-July, the Bank of Canada raised the rate by 25 points to 5%, bringing it to its highest level since 2001. Many economists weren’t sold on this increase, as the goal remains bringing inflation down to as low a rate as possible. We can see the efforts of the central banks paying off, since inflation in July fell to 3.3%. One has to be careful before declaring victory. Core inflation remains below total inflation.

United States  

The Fed raised rates twice during the summer, bringing its key rate to 5.5%, a 22-year high. The U.S. economy is quietly regaining stability, but we won’t see previous figures for a few quarters yet. Many people are wondering whether a recession is just around the corner. Economists say this is not possible in the foreseeable future, unless extreme changes to the current statistics occur.