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Why mortgage and rent costs drove inflation up in Canada

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In April, Canadians saw an increase in mortgage costs like interest and record-high rent prices, which is making the Bank of Canada's job to manage inflation very challenging.

Global's Anne Gaviola discusses with Jay Rosenthal from the Peak podcast what this means going forward.

"On the one hand, we want to tame inflation with interest rake hikes. On the other hand, interest rate hikes make borrowing for a home more expensive, which drives up the cost of purchasing a home, putting more people in the rental market, which drives up rent," Rosenthal said. "It is not easy."

Plus, failed banks, such as Silicon Valley Bank (SVB), are blaming social media for their demise, specifically for fuelling and speeding withdrawals creating an "old-fashioned bank run" but with "new, frenzied velocity." Our hosts also discuss if regulators are aware of the need to factor in social media into risk scenarios.

And Martha Stewart was on the cover of "Sports Illustrated" magazine at 81 years old. Gaviola and Rosenthal chat about the barriers she's breaking, but also why she doesn't look like the majority of women her age.

For more top business and tech news, visit The Peak Daily at https://readthepeak.com/shows/the-peak-daily

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Category
U.S. & Canada
Tags
global news, the peak, the peak podcast
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