Foodflation rears its ugly head again.Over to you...
While the BoC says that despite all the visible warning signs, inflation is, in fact, under control (yah right) and therefore likely won't be raising rates again in September.
Scotia Bank sees massive profit and claims little exposure to speculative ABCP markets.
Meanwhile RBC states ABCP risks tally to $1.1B; but remember that's barely 3% of annual operating profit.
CHIP finally has some legal competition in the "we'll steal your hard earned home right out from underneath you seniors' unsuspecting eyes" market.
South of the border, new home sales beat expectations, but sales of existing homes drag prices down 3.6%.
Closer to home, BC tops in RE prices, but income gains, not so much, despite record unemployment. BC's average income = $39,500 annually. Income growth gains are LOWEST IN ALL CANADIAN PROVINCES.
This is eerily similar to a certain name we all know and love, non?
"Ingenious" would-be landlords "bend" rules of the RTA to take advantage of uneducated, unsophisticated, first-time renters in a tight market: who would of thunk it?
Tuesday, August 28, 2007
Tuesday News Hunt
Just some highlights from a RE/money market-filled news day: