Here's why the next two weeks could chart our course...

3, Key Dates

The next couple of weeks are going to be data-rich for Economics geeks. And those that are looking to get into the market and for others holding mortgages will be paying close attention.

Here's what we have on the docket:

1. October 17th: Business Outlook and Consumer Expectation Survey Data
2. October 19th: Stats Canada releases September Inflation Numbers
3. October 26th: Bank of Canada (BoC) Rate announcement

Since their September announcement, the BoC has been telling anyone who will listen that they are not yet done with their rate hike cycle. My belief is that the messaging s very intentional and geared towards their biggest battle front: consumer expectations around inflation. The data from July's reports didn't show a whole lot of faith in the BoC's ability to reel inflation in. My guess is that these rate hikes combined with some positive reports and the constant barrage from the BoC should see those expectations come down. And that would be very welcome news for all of us and take at least a bit of pressure of the BoC.

It's all but a foregone conclusion that we'll see a 0.5% increase to the overnight rate on October 26th. But with some good news on the outlook of Canadians and perhaps some further softening to Core Inflation, maybe, just maybe we could see a pause at the December meeting (*crosses fingers and toes*). There is a lot of doom and gloom in the markets and much of these rate increases have yet to show up in the data. And I think these next couple weeks could give us a good indication of what things look like going forward. And while Real Estate activity has slowed, we're seeing record numbers on immigration and generally strong fundamentals in Canada. Demand hasn't disappeared - it's just sitting on the sidelines and waiting for some stability. If you count yourself in this group of prospective home buyers or you know someone that does - it's a good idea to get prepared.

Have a watch of the video above on some additional thoughts and reach out with yours! We love to connect on these topics and chat further if you have questions. And if you know anyone that might see some benefit from this email - go ahead and pass it on! We're always here to help!