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Weekly Economic Perspectives

High Rates Bring Mortgage Applications to a Standstill

Chief Economist
Investment Strategist

The Economy

  • US core PCE inflation eases more than expected.
  • Canadian economy slowed down in July.
  • UK economic performance revised up.
  • German inflation sharply lower as distortions fade.
  • Inflation eased in Tokyo, but prices may reaccelerate.
  • Australia’s Q3 job openings decline highest ever ex-Covid.

Spotlight on Next Week

  • Robust payroll gains expected in the US.
  • UK housing prices likely to weaken further.
  • BoJ Tankan survey may show improvement.
  • RBA to hold interest rates.

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