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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