BOC Gravelle: Acknowledged a welcome improvement in Oct inflation measures but more to do. ...Middle East

Bank of Canada's Gravelle speaking after the Bank of Canada's rate decision yesterday where the central bank kept rates unchanged at 5.0%. Below are the highlights from his speech where he acknowledged a welcome improvement in October inflation measures but emphasized the need for further progress to achieve price stability.: Shelter Price Inflation: Gravelle noted that housing imbalances have serious consequences for shelter price inflation, contributing 1.8 percentage points to the total October inflation rate of 3.1%.Housing Supply Response: Emphasized the need for Canada to have more homes and a housing supply that is more responsive to increases in demand.Demographic Demand and Supply

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