{"id":11270,"date":"2023-10-30T07:04:26","date_gmt":"2023-10-30T14:04:26","guid":{"rendered":"https:\/\/www.stevesaretsky.com\/?p=11270"},"modified":"2023-10-30T07:04:51","modified_gmt":"2023-10-30T14:04:51","slug":"structural-issues","status":"publish","type":"post","link":"https:\/\/www.stevesaretsky.com\/2023\/10\/news\/structural-issues\/","title":{"rendered":"Structural Issues"},"content":{"rendered":"\n
Happy Monday Morning!<\/p>\n\n\n\n
As expected, the Bank of Canada held interest rates at 5% for the second consecutive time. BoC\u2019s Macklem flagged everything we\u2019ve been highlighting in this newsletter for several months now. Weaker economic growth and a recent surge in global bond yields is doing most of the tightening for them. Adding, \u201cThe path to a soft landing is narrow. In our new projection that path is narrower.\u201d No doubt.<\/p>\n\n\n\n
Monetary policy is working, households are pulling back in the midst of surging interest rates. Household loan growth is running at its lowest levels since 1983!<\/p>\n\n\n\n