News of the day: TD and Scotiabank join spending spree, inflation rate stays steady, economists’ reaction, too many apartments, stagflation risks and more

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Photo by Gary Hershorn/Getty ImagesIt’s Monday, Sept. 14. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountToronto-Dominion Bank and Bank of Nova Scotia have committed to deploy billions of dollars over five years to accelerate growth in sectors they deem critical for the future of Canada’s economy, following similar steps taken by the other big Canadian lenders ahead of Prime Minister Mark Carney’s investment summit. Grocery price growth fell below the overall inflation rate for the first time since July 2024. Photo by PostmediaGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againCanada’s annual inflation rate remained steady at three per cent in August as gasoline and grocery prices rose at a slower pace, but economists say the elevated print is not enough to compel the Bank of Canada to hike interest rates later this year. Cooler core inflation will give the Bank of Canada some breathing space for rates that other central banks don’t have, said one economist. Photo by HYUNGCHEOL PARK/PostmediaCanada’s annual rate of inflation in August may have remained at three per cent, but some economists say the odds of a December rate hike by the Bank of Canada have increased due to surging global oil prices. Here’s what economists had to say about inflation and what’s next for the Bank of Canada and interest rates. A large residential apartment block being built by Drewlo just off of Bradley Avenue, east of Highbury in London, Ont., on Nov. 21, 2025. Photo by Mike Hensen/The London Free Press filesTimes have changed since the national purpose-built rental vacancy rate dipped to 1.5 per cent in 2023. In fact, a panel of real estate executives at the Canadian Apartment Investment Conference this week debated whether Canada is building almost too many units now. A man walks past the U.S. Federal Reserve building in Washington, D.C. Photo by Andrew Harrer/Bloomberg filesThe problem many investors are missing today is that the inflation we’re seeing isn’t being driven by excessive consumer demand, an overheated housing market or a wage-price spiral. In fact, the wage data suggest the exact opposite.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.