Market and rate update!

In Canada inflation fell to 2.9% y-o-y in October, down from 3.2% the previous month. It was the first dip below 3% since July and strengthens the Bank of Canada's argument for continued low interest rates. 

Factory sales rose by a better-than-expected 2.6%, sparking speculation that third-quarter economic growth may be stronger than anticipated.

 In other news this week:

• Canadian sales of existing homes increased 1.2% in October from the previous month. The economy of the European Union grew by just 0.2% in the third quarter over previous three months.
• Foreign investors bought a record $16.2 billion of Canadian "safe haven" money market securities in the third quarter.
• The world's central banks made their largest purchases of gold in decades in the third quarter.
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• Contact Amy Wilson 780-919-0475, amy@brokersforlife.ca