{"id":2932,"date":"2026-04-16T09:00:00","date_gmt":"2026-04-16T09:00:00","guid":{"rendered":"https:\/\/www.rbc.com\/en\/economics\/2025\/09\/18\/the-10-minute-take\/"},"modified":"2026-04-16T16:20:10","modified_gmt":"2026-04-16T16:20:10","slug":"the-10-minute-take","status":"publish","type":"post","link":"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/","title":{"rendered":"Podcast: The 10-Minute Take"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group mar-b-hlf mob-mar-b-qtr has-background is-layout-constrained wp-block-group-is-layout-constrained\" style=\"background-color:#f4f8f9\">\n<p class=\"mar-b-hlf mob-mar-b-qtr\"><em>Macroeconomics for everybody! The 10-Minute Take podcast from RBC Economics will explain (in simple terms) what the latest economic data means and why you should care. It\u2019s everything you wanted to know but were too shy to ask \u2014 in less than 10 minutes.<\/em><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or<a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\" Captivate.fm\" class=\"rbc-link-format\"> Captivate.fm<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 16, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e7-will-the-oil-price-shock-reignite-broad-inflation-in-canada\">S4:E7 Will the oil price shock reignite broad inflation in Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Global oil prices remain high as the Middle East conflict persists, raising questions about a potential comeback of the broad-based inflation Canada experienced during and after the pandemic.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">But, this shock is fundamentally different from the past. Unlike 2022, when the Russia-Ukraine war compounded systemic supply chain disruptions from pandemic lockdowns, today&#8217;s commodity shock is narrowly concentrated in oil, and unfolding at a time when global supply chains are more resilient.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, join RBC Economics&#8217; Claire Fan and Carrie Freestone as they discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How the scope and scale of the commodity price shock differs from the Russia-Ukraine war in 2022.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What localized and contained supply chain disruptions this year could mean for global inflation.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why Canadian consumers could be less tolerant of rising prices than they were in 2022.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/bae7afc8-c268-4cb1-8bfb-e28683200d2b\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 26, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e6-are-higher-oil-prices-good-or-bad-for-canada-s-economy\">S4:E6 Are higher oil prices good or bad for Canada\u2019s economy?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Ongoing conflict in the Middle East has pushed global oil prices higher, raising questions about the impact to Canada\u2019s oil-exporting economy.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">This shock differs fundamentally from the past including 2015\u2019s oil price collapse, which drove structural changes in Canada\u2019s energy sector over the past decade. The result: A surprisingly neutral net effect from today\u2019s high oil prices on real economic growth.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, join RBC Economics\u2019 Claire Fan and Carrie Freestone as they discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why domestic energy investment isn\u2019t likely to surge despite higher oil prices.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How the price shock can benefit some sectors but hurt others, creating a fractured impact.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What to expect for Bank of Canada rate decisions as inflation pressures evolve.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/039d911e-c149-40a7-8e26-59c5f3477fec\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 13, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e5-the-fallout-from-the-global-oil-shock-on-u-s-inflation\">S4:E5 <strong><strong><strong><strong><strong><strong>The fallout from the global oil shock on U.S. inflation<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Rising oil prices and its impact on the US economy are continuously evolving, and how long the crisis lasts will be the key determinant of where headline inflation settles.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">If the shock persists, higher energy prices will layer onto core inflation pressures amid the passthrough of tariffs to prices.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, RBC\u2019s Head of US Economics, Mike Reid, joins economist Carrie Freestone to discuss how he\u2019s thinking about inflation and the hit to consumption in the months ahead. The episode covers:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Constructing a range of scenarios to assess potential impact of higher energy prices on headline inflation.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Signs of early tariff passthrough already showing up beneath the surface.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether the US labor market and consumers are well-positioned to withstand these shocks.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/c7f11fb4-ecd8-486f-9bf0-fabc7bc8ac39\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 26, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e4-what-s-next-for-u-s-tariffs-after-ieepa-strike-down\">S4:E4 <strong><strong><strong><strong><strong>What\u2019s next for U.S. tariffs after IEEPA strike down<\/strong><\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. Supreme Court\u2019s decision against the use of the International Emergency Economic Powers Act (IEEPA) to impose broad-based tariffs is far from the end of the U.S. tariff story.<\/p>\n\n\n\n<p>The administration has already pivoted to new legislative authorities and opened investigations for future measures. For Canada, the implications are more limited than many would think.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone break down what the ruling means for trade policy and the economy. They discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What IEEPA is, why it was struck down, and what the administration is doing instead.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Four major statutory authorities the U.S. administration could use to reinstate or expand tariffs.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why Canada\u2019s tariff backdrop hasn\u2019t really changed from the ruling\u2014and what matters for the bilateral relationship going forward.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/e47d6388-5a15-4cf1-acb3-f3c0b97ee214\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 12, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e3-u-s-inflation-s-stubborn-ceiling-why-the-fed-s-2-target-remains-elusive\">S4:E3 <strong><strong><strong><strong><strong>U.S. inflation\u2019s stubborn ceiling: Why the Fed\u2019s 2% target remains elusive<\/strong><\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">One month into 2026, U.S. inflation continues to run above 2% for a fifth consecutive year\u2014and the reason goes beyond a single cause.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Some recent data\u2014including easing in core services and vehicle prices\u2014might suggest relief is near, but a closer look reveals these improvements are unlikely to persist as a trend.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone explore what&#8217;s driving inflation and how to cut through the noise. They explore:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How a tight labor market, robust consumer demand, tariffs flowing through supply chains, and a lagging housing inflation measure are all keeping inflation elevated.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What are the critical differences between the Consumer Price Index and Personal Consumption Expenditures and why the Fed&#8217;s preferred measure often tells a different story than headline CPI readings.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Key data challenges and what to monitor: The Producer Price Index for tariff signals, business surveys for pricing intent, and wage dynamics for inflation&#8217;s floor.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/edf3b7b4-0ca0-4fb2-b661-1776767a9d24\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 29, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s4-e2-breaking-the-trade-trap-can-canada-diversify-fast-enough\">S4:E2 <strong><strong><strong><strong><strong>Breaking the trade trap: Can Canada diversify fast enough?<\/strong><\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canada&#8217;s extreme trade concentration\u2014with 75% of energy exports and 77% of manufacturing exports going to the U.S. in 2024\u2014has left the country vulnerable to protectionist trade policies.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">While 2025 data shows encouraging early signs of diversification, most Canadian exporters still lack the infrastructure and trade channels needed to pivot away from U.S. markets effectively.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone are joined by colleague Salim Zanzana for a conversation on:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Canada\u2019s concentrated trade reality and how it\u2019s evolved in the past year.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What early diversification efforts reveal about Canadian exporters adapting.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Recent developments between Canada and China and their economic impact.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/701543c8-0189-4949-b292-9cc96cbe07d4\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 15, 2026<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-season-4-premiere-what-2026-holds-for-north-america\">Season 4 premiere: What 2026 holds for North America<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">We&#8217;re back for season four!<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this season premiere, join RBC Economics\u2019 Claire Fan and Carrie Freestone as they cut through the noise and reveal themes that matter for the Canadian and U.S. economies in 2026.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Despite a turbulent 2025, Canada&#8217;s economy is starting from a surprisingly stronger position than many realize. Per-capita GDP improved for the first time in three years. The real question is: Can this improvement be sustained as international headwinds continue to grow.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">South of the border, our outlook for the U.S. remains &#8220;stagflation lite&#8221;\u2014sticky services inflation around 3% paired with growth below 2%. It&#8217;s not just about tariffs. Uneven consumer spending driven by wealthy households and retirees is keeping inflation pressures alive.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/3be84a04-a15e-4d9d-9936-9caaf2271661\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">December 18, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e22-three-common-economic-trends-in-canada-and-the-u-s-in-2025\">S3:E22 <strong><strong><strong><strong>Three common economic trends in Canada and the U.S. in 2025<\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Trade disruptions in 2025 took a toll on Canada-U.S. relations after decades of coordination and integration. Still, the two economies are more similar than many may appreciate.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this season finale of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone round up three common themes shaping both economies this year. They include:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Slowing population growth, and how it\u2019s impacted a key labour market benchmark\u2014breakeven employment rates.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Resilient consumer spending holding up despite much trade uncertainty and deteriorating job market conditions.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Big government deficits\u2014an ongoing theme in the U.S. post-pandemic, but also emerging in Canada as well.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/fc929d75-b1ca-4fc0-b57e-1ffad7d064a1\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 27, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e21-what-end-of-u-s-government-shutdown-means-for-data-and-fed\">S3:E21 <strong><strong><strong><strong>What end of U.S. government shutdown means for data and Fed<\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. government shutdown ended after 43 days\u2014the longest in history\u2014and, economists now have more clarity about the release of government data.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">But,&nbsp;clarity on timing doesn&#8217;t mean clarity on the state of the U.S. economy. Without key October data, the U.S. Federal Reserve faces significant fog heading into the critical December interest rate decision.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>When (and if) key indicators like the October jobs and inflation data will be released, and what gaps we&#8217;re facing.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What September data revealed about the economy heading into the shutdown.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How the shutdown will weigh on GDP growth in Q4 2025.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why the Fed&#8217;s December meeting is consequential, and whether a pause may be the most prudent move.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/e3f96ae9-27f3-43b2-a0a9-57524c2ca2e7\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 13, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e20-canadian-budget-2025-how-should-we-be-thinking-about-bigger-deficits\">S3:E20 <strong><strong><strong><strong>Canadian Budget 2025: How should we be thinking about bigger deficits?<\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">In response to tariff pressures and economic weakness, Budget 2025 commits big new spending to spark private investment and reignite growth \u2013 with higher deficits and debt as a result. In this episode of the 10-Minute Take, RBC Economist Claire Fan is joined by RBC Assistant Chief Economist Cynthia Leach to discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why fiscal policy is the right tool to address the weak growth outlook<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How the growth agenda is central to the government\u2019s fiscal plan<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether the budget does enough to catalyze growth \u2013 and the execution risks that could derail it<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>If Canada can afford to spend big right now<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/90dde818-b8e6-43b9-a862-3cbe059a5ea9\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\"><a href=\"https:\/\/feeds.captivate.fm\/the-10-minute-take\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"Captivate\" class=\"rbc-link-format\">Captivate<\/a><\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 23, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e19-when-data-goes-dark-the-ripple-effects-of-a-u-s-government-shutdown\">S3:E19 <strong><strong><strong>When data goes dark: The ripple effects of a U.S. government shutdown<\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">It\u2019s the 23<sup>rd<\/sup> day of the U.S. government shutdown and 750,000 federal workers are furloughed.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Significant data disruptions are clouding visibility over the economy just as the U.S. Federal Reserve restarts its rate-cutting cycle.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, join RBC Economists Claire Fan and Carrie Freestone as they discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why data disruptions may be more concerning than immediate economic disruptions.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What alternative private sector indicators reveal about the current state of the U.S. economy.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The Fed&#8217;s likely path forward amid the data blackout and trade uncertainty.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/f39d8081-e368-4d24-8078-56637ed18ca2\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 1, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e18-international-trade-101-the-canadian-edition\">S3:E18 <strong><strong><strong>International trade 101\u2014the Canadian edition<\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Amid the constant churn of U.S. tariff headlines, fundamental questions about Canada&#8217;s trade often go unanswered. Questions such as:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What exactly does Canada export\u2014and where does it all go?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Has Canada always been this dependent on the U.S. market?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Which provinces are most at risk from trade disruptions?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Should we worry less about tariffs on certain goods like fungible raw materials than others?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode on the 10-Minute Take, RBC Economics\u2019 Claire Fan and Carrie Freestone dig into these questions and more. Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/2c143ba7-9af9-400d-8816-e32754aa4f38\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 18, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e17-rate-cuts-and-crossroads-what-s-next-for-the-fed-and-boc\">S3:E17 <strong><strong>Rate cuts and crossroads: What&#8217;s next for the Fed and BoC?<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Both the Federal Reserve and the Bank of Canada returned from the sidelines this week \u2013 with widely anticipated decisions to cut their policy rates by 25 basis points. But behind these moves lie different motivations and signals, sparking debate over what this means for the economic outlook on both sides of the border.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode, RBC economists Carrie Freestone and Claire Fan unpack what drove these decisions and why they view the Fed\u2019s action as a step toward policy <em>normalization<\/em>\u2014not easing. Later, they shift their focus to Canada, where a mixed data picture begs the question: will the BoC cut rates again in October?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/387ddb12-cb65-4649-b772-9059c7e2bc01\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 4, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e16-are-u-s-tariffs-close-to-achieving-their-goals\">S3:E16 <strong><strong>Are U.S. tariffs close to achieving their goals?<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">U.S. tariff collection among imports are now at the highest level since the 1930s, and many are wondering how these policies are measuring up against their objectives.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Assistant Chief Economist Nathan Janzen is joined by Senior Economist Claire Fan to discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Who\u2019s bearing the costs of tariffs so far.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The current and future prospects for U.S. manufacturing amid protectionist measures.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether tariff revenues can make a meaningful dent in America&#8217;s massive federal deficit.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What these findings mean for the sustainability of U.S. tariff policy going forward.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/2d54004b-e448-4796-bb24-7581c9a94733\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 21, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e15-stagflation-lite-what-this-means-for-the-u-s-economy\">S3:E15 <strong><strong>Stagflation lite: What this means for the U.S. economy<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Recent economic data in the U.S. reinforces our &#8220;stagflation lite&#8221; view as early signs of tariff impacts have emerged alongside unexpected labour market weakness.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone break down:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What stagflation lite means and why it&#8217;s different from severe stagflation in the 1970s.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How producer price data are showing early impacts of tariffs before these fully reach consumer prices.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why dramatic downward revisions to employment figures signal a concerning trend.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What this scenario in the U.S. means for Canada\u2019s export-dependent economy.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/2d54004b-e448-4796-bb24-7581c9a94733\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 7, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e14-boc-hits-pause-why-rates-aren-t-budging-amidst-uncertainty\">S3:E14 <strong><strong>BoC hits pause: Why rates aren\u2019t budging amidst uncertainty<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Bank of Canada held its overnight rate steady for the third consecutive <a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/featured-insights\/boc-holds-rates-unveils-new-scenario-analysis\/\" target=\"_blank\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"meeting in July\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">meeting in July<\/a> despite acknowledging some softening in the Canadian economy since January.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Claire Fan and Carrie Freestone break down:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What&#8217;s keeping the central bank on the sidelines. &nbsp;<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How CUSMA exemptions have protected Canada from the worst of U.S. tariff impacts.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The role of growing government spending plans in shaping the outlook.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/407a4263-67e8-4199-85be-df4069f011de\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 24, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e13-is-canada-s-housing-market-regaining-its-footing\">S3:E13 <strong><strong>Is Canada&#8217;s housing market regaining its footing?<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canada&#8217;s housing market is showing early signs of recovery after months of trade war anxiety kept homebuyers on the sidelines.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">But even with three consecutive months of increasing home resales, activity remains below levels at the beginning of the year, with significant regional differences across the country.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics&#8217; Carrie Freestone and Claire Fan discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How housing affordability has improved to its best level in three years, even though it\u2019s still far from pre-pandemic levels.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The significant variations in market conditions between regions and housing segments (i.e., condos vs. detached homes).<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How trade uncertainty, Bank of Canada interest rate decisions and labour market trends are influencing the housing recovery.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/player.captivate.fm\/episode\/abd6aca1-9d31-464d-ba21-1d9bd079c087\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 2, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e12-why-is-the-u-s-unemployment-rate-low-amid-trade-uncertainty\">S3:E12 <strong>Why is the U.S. unemployment rate low amid trade uncertainty?<\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. unemployment rate has remained near historic lows amid massive uncertainty from trade wars.<\/p>\n\n\n\n<p>A long-term structural trend\u2014surging retirements\u2014is keeping the unemployment rate from rising drastically even during short-term cyclical deterioration in the labour market.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics\u2019 Carrie Freestone and Claire Fan discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The mechanisms of <a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/featured-insights\/america-needs-workers-not-jobs\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-category=\"LP-The10-MinuteTake\" data-dig-action=\"link click\" data-dig-label=\"how record retirements keep the unemployment rate low\" class=\"rbc-link-format\">how record retirements keep the unemployment rate low<\/a> over the medium-term.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why the U.S. arguably needs more new workers than it needs new jobs.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How these structural forces will play out with near-term cyclical forces (like a labour market deterioration).<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How immigration policy in Canada has blunted\u2014but not fully eliminated\u2014the cost of population aging.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2122802919&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 19, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e11-how-worried-should-we-be-about-spiking-oil-prices\">S3:E11 <strong>How worried should we be about spiking oil prices?<\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Oil prices spiked last week following escalating conflict in the Middle East between Israel and Iran. This has raised concerns about higher inflation against an already uncertain economic backdrop.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics\u2019 Claire Fan and Carrie Freestone unpack:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How high inflation could hit in Canada and the U.S. if oil prices continue higher.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How higher energy prices could impact growth.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What this could mean for interest rates in Canada and the U.S.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2115777474&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 5, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e10-how-is-large-government-debt-in-the-u-s-shaping-its-economy\">S3:E10 <strong>How is large government debt in the U.S. shaping its economy?<\/strong><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">An enormous U.S. government deficit continues to raise concerns about fiscal sustainability as Moody\u2019s joined other rating agencies in downgrading the U.S.\u2019s credit rating.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">This raises questions about the implications for U.S. monetary policy, interest rates, and the impact on neighboring economies.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC Economics\u2019 Claire Fan and Carrie Freestone explore:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why fiscal challenges may be limiting the U.S. Federal Reserve\u2019s ability to cut interest rates.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How the recent &#8220;Big Beautiful Bill&#8221; could add to the fiscal burden.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What these trends mean for Canada\u2019s economy and monetary policy.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Listen to our newest episode here or wherever you get your podcasts:<\/p>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2108144856&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 22, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e9-how-has-the-u-s-china-trade-war-de-escalation-impacted-our-forecasts\">S3:E9 <strong>How has the U.S.-China trade war de-escalation impacted our forecasts?<\/strong> <\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. administration reducing tariffs on Chinese imports from a staggering 145% to 30% marked a significant breakthrough in the ongoing trade war. But, the average effective U.S. tariff rate still sits at 13%\u2014 and fundamental trade headwinds haven&#8217;t disappeared.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-Minute Take, RBC&#8217;s Economics Claire Fan and Carrie Freestone take you through:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How an unwinding of tariffs on Chinese imports will impact our outlooks for U.S. core inflation, consumer spending, and growth.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How this policy shift factors into the U.S. Federal Reserve\u2019s interest rate decisions for 2025.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether Canada&#8217;s economic outlook will be impacted by U.S.-China trade developments.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2100425595&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 8, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e8-trade-war-backlash-where-are-canadians-vacationing-now\">S3:E8 Trade war backlash: Where are Canadians vacationing now?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The trade war is changing travel plans. As tensions simmer, Canadians\u2019 trips to the U.S. dropped substantially in early 2025 compared to last year.<\/p>\n\n\n\n<p>But, vacations weren\u2019t cancelled altogether\u2014Canadians are just going somewhere else. And, this trend of travelling less to the U.S. isn\u2019t unique to Canada \u2013 arrivals to the U.S. from other countries have also slumped this year.<\/p>\n\n\n\n<p class=\"mar-t-qtr mob-mar-t-qtr\">In this episode of the 10-Minute Take, RBC economists Claire Fan and Carrie Freestone explore:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf mar-t-qtr mob-mar-t-qtr mob-mar-b-hlf mar-l-hlf mob-mar-l-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How travel patterns have changed in 2025 to reflect broader trade tensions.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Whether tourism within Canada will rise to offset international declines.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How these trends may impact the services sector\u2019s outlook and trade deficits.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"width:100%;height:200px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2091772026&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 24, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e7-forecasting-in-volatile-times-are-tariffs-a-game-changer-for-growth-and-inflation\">S3:E7 Forecasting in volatile times: Are tariffs a game changer for growth and inflation?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Full-blown reciprocal U.S. tariffs are on pause for 90 days, but sizeable 10% tariffs imposed on most countries on April 5 remains in place, and it, along with steep tariffs on imports from China, could have significant implications for U.S. inflation and growth.<br>The U.S. trade-weighted average tariff rate is currently at its highest since the 1930s, but, in a twist of fate, Canada has emerged as one of the least impacted countries, thanks to USMCA exemptions.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">RBC Economics has updated forecasts for the U.S. and Canada to reflect these developments. In this episode of the 10-Minute Take, Claire Fan and Carrie Freestone answer these questions:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-b-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How will tariffs influence inflation and GDP growth in the U.S. and Canada?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Will either country see a recession in the coming year?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What could future policy from the Bank of Canada and Federal Reserve look like?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2084010327&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 3, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e6-are-services-immune-to-tariffs-in-the-trade-war\">S3:E6 Are services immune to tariffs in the trade war?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">More attention is being focused on how Canada can better diversify trade to alternative sources as U.S. tariffs and threats continue to escalate.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In the goods trade, Canada\u2019s geographical proximity to the U.S. makes it difficult to diversify away from the U.S. But, that is much less of a constraint for services.<\/p>\n\n\n\n<p>In this episode of the 10-Minute Take, economists Claire Fan and Carrie Freestone dig into:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc mar-t-hlf mar-b-hlf\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How much services Canada trades and with who?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Is Canada is well positioned to leverage services for broader trade diversification?<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What are the headwinds facing services amid the ongoing trade war?<\/p>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2068580232&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 20, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e5-have-the-impact-of-tariffs-shown-up-in-the-jobs-market-yet\">S3:E5 Have the impact of tariffs shown up in the jobs market yet?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Consumers and businesses on both sides of the border have been paralyzed with uncertainty related to trade. Confidence has tanked and we\u2019ve also witnessed a notable deterioration in other \u201csoft\u201d sentiment data in recent months.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The extent that recent trade policies have impacted hard data is unclear but matters more for central bank decisions. In this week\u2019s episode, RBC Economics\u2019 Claire Fan and Carrie Freestone break down how trade turbulence is impacting labour markets in Canada and the U.S., and what to expect next in the ongoing trade war.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2058869356&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 27, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e4-is-inflation-making-a-comeback-in-canada\">S3:E4 Is inflation making a comeback in Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Economic data has shown that Canadian inflation was a little firmer than expected in early 2025, especially after considering the impact of the federal tax holiday that pushed prices lower for a few categories including restaurant dining.<\/p>\n\n\n\n<p>In the U.S., the picture is a bit \u201cstickier.\u201d Broadly resilient consumer demand has been keeping price pressures at uncomfortably high levels, and not all U.S. households are impacted equally. Those that earn less tend to have less options in avoiding higher priced essentials.<\/p>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf mar-t-hlf mob-mar-t-qtr\">Join RBC Economics\u2019 Claire Fan and Carrie Freestone as they give their latest take on inflation, and how the looming trade rift plays into that.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2043628604&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 13, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e3-what-we-ve-learned-about-u-s-canada-trade-so-far\">S3:E3 What we\u2019ve learned about U.S.-Canada trade so far<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">As the threat of tariffs has been evolving, economists have been busy assessing the potential economic fallout. In this episode, RBC Economics\u2019 Carrie Freestone and Claire Fan discuss:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>What we know about the tariffs announced, what retaliation could look like and how these forces will impact both the Canadian and U.S. economies.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What Bank of Canada Governor Tiff Macklem said in the January meeting about how the Bank could respond.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How markets reacted to tariff news and how we are assessing the balance of risk between a hit to demand and price pressures arising from potential policies.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf mar-t-hlf mob-mar-t-qtr\">Join us as we unpack how we\u2019re thinking about the potential damage from a trade war.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2033024640&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 30, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e2-how-do-economists-measure-the-impact-of-potential-tariffs-on-canada\">S3:E2 How do Economists measure the impact of potential tariffs on Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The looming threat of potential U.S. tariffs is keeping economists and monetary policymakers up at night. In this episode, RBC Economics\u2019 Claire Fan and Carrie Freestone break down:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>How RBC Economists are thinking about a U.S. tariff shock- including the multiple stages of passthrough to the economy.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>How we think the Bank of Canada could respond to higher prices resulting from tariffs.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Why \u201creshoring\u201d isn\u2019t as easy as it sounds.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf mar-t-hlf mob-mar-t-qtr\">Tune in to hear why tariffs are demand-destructive and to understand the Bank of Canada\u2019s predicament if required to respond to these policy-induced price-shifts. While we highlight that the economic damage is likely too severe for these threats to materialize, we also discuss what the consequences would be for the U.S. and Canada if tariffs are implemented.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2021357040&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 16, 2025<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s3-e1-the-loonie-slump-what-s-behind-it-and-where-it-s-headed\">S3:E1 The Loonie slump: What\u2019s behind it and where it\u2019s headed<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Season three of the 10-Minute Take is here, and we\u2019re kicking things off with a deep dive into a hot topic\u2014the Canadian dollar\u2019s dramatic dip against the U.S. dollar, to levels unseen since the pandemic.<\/p>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">In this episode, RBC Economics\u2019 Claire Fan and Carrie Freestone break down:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-black-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The key drivers behind the loonie\u2019s recent slump.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>What this means for inflation in the current economy.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Where we think the currency is headed in 2025.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf mar-t-hlf mob-mar-t-qtr\">Tune in to hear why we don\u2019t expect the Bank of Canada to bat an eye, and how Canada\u2019s strong net international investment position will be particularly helpful.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/2010049475&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">December 12, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e25-what-economists-are-thinking-about-heading-into-2025\">S2:E25 What economists are thinking about heading into 2025<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Canadian economy has been through a whirlwind in 2024. Canada has been in an extended period of underperforming per capita growth compared to the United States since 2019. Still, 2024 was a pivotal year for Canadians with inflation coming down and interest rates finally moving lower.<\/p>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">But has inflation truly been tamed? If so, why doesn\u2019t it \u201cfeel\u201d like affordability has truly gotten better? And, how do big policy pivots on immigration and global trade fit into it all?<\/p>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">Join RBC economists Carrie Freestone and Claire Fan in this 2024 10-Minute Take wrap-up episode. They\u2019ll discuss the highlights in a year-in-review before addressing key themes for 2025 in the final episode of the season.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1981067331&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 28, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e24-what-does-a-massive-u-s-government-deficit-mean-for-canada\">S2:E24 What does a massive U.S. government deficit mean for Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. government deficit is unusually large at 6.4% of gross domestic product in 2024\u2014the average over the last five decades is 3.7%. Promises from the new Trump administration on the campaign trail suggest it is likely to grow even bigger over the next four years.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Massive fiscal spending has been fueling U.S. growth, but will have important and, ultimately, costly consequences for the economy. Lower corporate taxes could also hurt Canada\u2019s competitiveness, at a time when the economic divergence with the U.S. is already large. In this 10-Minute Take, RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;dive into the growing government deficit in the U.S., and its ripple effects on Canada.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1969060947&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 14, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e23-why-are-so-many-canadians-struggling-if-we-re-amassing-record-savings\">S2:E23 Why are so many Canadians struggling if we\u2019re amassing record savings?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canadian household balance sheets appear exceptionally strong as disposable income continues to rise alongside savings. But, what the latest economic data tells us is distinctly different from how many households are feeling. There are many signs&nbsp;<a href=\"https:\/\/thoughtleadership.rbc.com\/proof-pointwhy-canada-is-seeing-uneven-recovery-among-households\/\">the average Canadian consumer is suffering<\/a>. How can both be true at the same time?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, RBC economists Carrie Freestone and Claire Fan discuss this paradox of some Canadians falling behind on credit card payments, while others see savings rise. We\u2019ll unpack the different realities experienced by various income groups, focusing on spending behaviours, debt accumulation or savings, and the distinct difference between wage growth and changes in disposable income.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1957526611&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-light-grey-color has-alpha-channel-opacity has-light-grey-background-color has-background is-style-wide wide\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 31, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e22-will-there-be-another-jumbo-rate-cut-from-the-boc-in-december\">S2:E22 Will there be another jumbo rate cut from the BoC in December?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Bank of Canada cut the overnight rate by 50 basis points in October\u2014marking the largest reduction since the pandemic. A day later, the federal government announced new immigration targets for the next three years that would drastically alter population growth in Canada. Both of these moves will have a significant impact on the Canadian economy.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;discuss the latest rate cut, why it was bigger than before and what to expect from the BoC going forward. They\u2019ll also tackle how the new immigration targets fit into it all.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1945737951&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 17, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e21-canadians-are-still-renewing-mortgages-at-higher-rates-will-this-hurt-the-economy\">S2:E21 Canadians are still renewing mortgages at higher rates- will this hurt the economy?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">With many Canadian households planning to renew longer-term fixed rate mortgages at higher rates into 2025 and 2026, Canada\u2019s \u201cmortgage renewal cliff\u201d is hardly behind us. Higher mortgage payments mean less money leftover to spend on essentials and non-essentials and on balance, a weaker economic outlook. But we don\u2019t think this is a huge risk, as long as interest rates continue to drop and labour markets don\u2019t plummet.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Join RBC Economists Carrie Freestone and Claire Fan to discuss the upcoming wave of mortgage renewals, how it impacts the overall economy, and why we think the worst of the mortgage renewal cliff is behind us.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1936833215&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 3, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e20-inflation-is-back-at-2-why-doesn-t-it-feel-like-it\">S2:E20 Inflation is back at 2%\u2014why doesn\u2019t it feel like it?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Headline inflation in Canada dropped to the 2% target set by the Bank of Canada for the first time since the pandemic in August. That means higher interest rates implemented by the central bank since 2022 have worked to reduce price pressures and restore balance back in the economy.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">But as much as that is good news, a closer look at the data shows today\u2019s 2% inflation is not quite the same as 2% inflation from before the pandemic.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;discuss the latest inflation trends in Canada and how and why it\u2019s different from before and what this means for the economy going forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1927873793&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 20, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e19-what-led-the-u-s-fed-to-cut-interest-rates-by-50-basis-points\">S2:E19 What led the U.S. Fed to cut interest rates by 50 basis points?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The U.S. Federal Reserve cut the federal funds rate for the first time since the pandemic in September by 50 basis points. The easing of monetary policy was highly anticipated with inflation showing further signs of deceleration and a very gradual, but worrying, rise in unemployment. Still, many were expecting a 25 basis point cut, because overall economic output remains strong\u2013propped up by robust consumer activity.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC Economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;and special guest, RBC Chief Economist&nbsp;<strong>Frances Donald<\/strong>, as they unpack the Fed\u2019s latest interest rate decision and what red or green flags are emerging from U.S. economic data<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1919913503&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 5, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e18-what-do-new-chinese-ev-tariffs-mean-for-canadian-businesses-and-consumers\">S2:E18 What do new Chinese EV tariffs mean for Canadian businesses and consumers?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Liberal government recently announced new tariffs on electric vehicles, steel and aluminum imports from China\u2014marking the latest move in the global trend of trade segregation to boost domestic priorities.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">That\u2019s not the end of it \u2013 by the end of the ongoing 30-day government consultation, tariffs could also be imposed on other products including solar cells, EV batteries, chips, and critical minerals. These new measures are aimed to shield domestic producers from unfair international competition, but will also lead to an immediate increase in input costs for Canadian importers, while creating more tension amid an already frigid global trade environment.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this episode of the 10-minute take, join RBC Economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;for details about the new tariffs, as they unpack the potential impact on the Canadian economy and broader trade relations going forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1910714027&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 22, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e17-what-have-market-volatility-and-recession-fears-meant-for-central-banks\">S2:E17 What have market volatility and recession fears meant for Central Banks?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Both U.S. and Canadian households are facing recession fears- but for different reasons. Downside surprises to U.S. data in early August triggered a massive equity selloff. And a triggering of the \u201cSahm rule\u201d in the U.S. was met with recession fears.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In Canada, households are feeling stretched and job seekers struggle to find work. Despite not being in a recession, it certainly feels like one. How will Central Banks react and when will things start to feel easier for Canadian households?<\/p>\n\n\n\n<p class=\"mob-mar-b-qtr mar-b-hlf\">In this episode of the 10-minute take, join RBC Economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;for a macro update as they answer your burning questions around the latest data points, recession fears, and what all of this means for the year ahead.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1901903751&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 8, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e16-young-canadians-are-complaining-about-the-economy-do-they-have-a-point\">S2:E16 Young Canadians are complaining about the economy. Do they have a point?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Younger Canadians are bearing the brunt of the softening labour market, accounting for the lion\u2019s share\u2014 80%\u2014of the increase in Canada\u2019s unemployment rate since the summer of 2022.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">That share is much higher than in previous downturns like the global financial crisis. Not having a job results in a big hit to disposable income. That coupled with surging costs to service mortgages and other debt has forced many younger Canadian households to deleverage.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Some of these challenges are set to unwind in the year ahead, as inflation eases and interest rates drop lower. Other issues, including limited access to the housing market could have a longer-lasting impact on young Canadians\u2019 lives. In this week\u2019s episode of the 10-Minute Take, join RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;as they take a deep dive into the challenges facing young Canadians.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1891452366&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 25, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e15-what-is-behind-canada-s-rising-unemployment-if-it-s-not-immigration\">S2:E15 What is behind Canada\u2019s rising unemployment if it\u2019s not immigration?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The recent deterioration of the Canadian labour market comes at a time when immigration and population growth have also increased significantly. Many have put the two together, and attributed rising unemployment solely to the increase in the labour force due to newcomers. On that, we have a different view.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">It is true that landed immigrants are seeing a faster increase in the unemployment rate, but that\u2019s been the case whenever the economy has softened in previous periods. This time around, the bigger deterioration was seen among students and new graduates who are having an increasingly hard time landing a job as demand for labour continues to pull back.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this week\u2019s episode of the 10-Minute Take, RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;unpack trends in the labour market, starting with how immigration fits into it all. They\u2019ll then discuss which age groups and industries have been hit particularly hard, before finishing up with what to expect going forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1879979112&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 11, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e14-what-does-a-second-trump-presidency-mean-for-north-american-trade\">S2:E14 What does a second Trump presidency mean for North American trade?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The focus is back on former U.S. president Donald Trump\u2019s regressive trade policies after the first U.S. presidential debate and heading into November\u2019s elections.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On his campaign trail, Trump has promised to impose hefty tariffs on imports if elected for a second term\u2014suggesting 60% tariffs on imports from China and 10% tariffs on all other imports across the board.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this week\u2019s episode of the 10-Minute Take, RBC economists&nbsp;<strong>Claire Fan<\/strong>&nbsp;and&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;look back at tariffs imposed by Trump during his last presidency and their impact on the U.S. economy. They\u2019ll debunk some of the common misconceptions about the impact of tariffs on economic growth and job creation, before moving on to answer key questions such as what to expect this time around, and how Canada fits into it all.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1868206251&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 27, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e13-why-should-we-care-about-a-productivity-gap-in-canada\">S2:E13 Why should we care about a productivity gap in Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canada\u2019s underperformance in productivity has attracted a lot of limelight recently. It\u2019s not a new problem, but the gap (especially when measured against the U.S.) has simply gotten too large to ignore. In the 1970s, the level of Canadian productivity was roughly 90% of U.S. levels. Today it\u2019s more like 70%. That deterioration over the decades leads to an enormous $20,000 earnings gap, between an average Canadian and an average American currently per year.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Indeed, historically, gains in productivity have correlated well with real wage growth. And that\u2019s really why everyone should care about slower productivity. Because at its core, a lack of productivity growth means a lack of improvement in living standards.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC Assistant Chief Economist&nbsp;<strong>Nathan Janzen<\/strong>&nbsp;and Economist&nbsp;<strong>Claire Fan<\/strong>&nbsp;as they tackle productivity. They\u2019ll start by going over all the basics \u2013 what productivity is, how it\u2019s measured and why it matters, before detailing a few of the many drivers underlining Canada\u2019s underperformance, and what could help in the period ahead.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1857935991&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 13, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e12-travel-season-s-here-what-can-we-look-forward-to\">S2:E12 Travel season\u2019s here! What can we look forward to?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">With summer approaching, what can we look forward to this year\u2019s travel season that might be different from before? For one, it took longer for Canadians to feel comfortable with longer distance travel following pandemic disruptions but as of the end of 2023, demand for overseas tourism had finally recovered. That trend will likely continue this summer, as more Canadians travel further away to destinations that may have something different to offer. Switching the lens inward, the rebound in travel demand among Canadians has not been fully reciprocated by foreign visitors coming to travel in Canada. That\u2019s where there\u2019s still a sizable gap to be filled.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC Economists&nbsp;<strong>Carrie Freestone<\/strong>&nbsp;and&nbsp;<strong>Claire Fan<\/strong>&nbsp;as they unpack travel trends. They\u2019ll start by going over where things stand as of the beginning of this year, before getting to some soft spots remaining, and explain why or why not those will bounce back in 2024.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1846133154&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 30, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e11-how-does-population-aging-weigh-on-canada-s-economy-and-how-can-immigration-help\">S2:E11 How does population aging weigh on Canada\u2019s economy, and how can immigration help?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">An aging population has dire economic and fiscal consequences. It means widespread labour shortages, more upward pressure on wage growth and inflation, and potentially a growing funding gap for public social services. Canada is not alone in facing such challenges. What is unique, however, is how the Canadian government has utilized immigration as a tool to combat those headwinds.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC Economists Carrie Freestone and Claire Fan as they unpack what it means for the economy to have an aging population. They\u2019ll highlight how Canada measures up against the U.S. and the role immigration can play to soften the blow.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1833361974&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 16, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e10-what-is-a-neutral-rate-of-interest-and-why-did-the-bank-of-canada-move-it-higher\">S2:E10 What is a neutral rate of interest and why did the Bank of Canada move it higher?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In April, the Bank of Canada shifted its estimate for neutral rate up 25 basis points- a reflection that the \u2018normal\u2019 of interest rates in the post-pandemic era is likely higher than the decade before. Taking a step back, what exactly are \u2018neutral\u2019 interest rates and how did the central bank know to adjust them higher? After many decades of neutral rates moving lower, why is the pendulum swinging back?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC Economists Claire Fan and Carrie Freestone as they chat monetary policy and answer all of your burning questions around the \u2018neutral\u2019 rate of interest.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1822699152&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 2, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e9-will-the-bank-of-canada-be-influenced-by-higher-for-longer-in-the-u-s\">S2:E9 Will the Bank of Canada be influenced by higher for longer in the U.S.?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In early 2024, the disparity in economic performance among advanced economies has grown more apparent. Increasingly, we are seeing the Canadian economy underperforming, especially compared to strong conditions in the United States. Not so optimistic, however, are the U.S. inflation numbers that are once again gathering heat. This has prompted considerations that the Federal Reserve will need to keep rates higher for much longer. But will the BoC have to follow suit?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this week\u2019s episode of the 10-Minute Take, RBC Economists Claire Fan and Carrie Freestone will answer this question for you. They will start by going over where the potential concerns are with a rate divergence between the Bank of Canada and the Fed, before getting to why the BoC is not expected to be derailed in its upcoming easing cycle.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1812029979&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 18, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e8-how-can-we-improve-housing-affordability-for-canadians\">S2:E8 How can we improve housing affordability for Canadians?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Housing affordability has become a generational concern in Canada and recently took centre-stage in the Federal Budget. At today\u2019s prices, two-thirds of Canadian households cannot afford to purchase a detached home based on earned-income alone. How did we get here? And how can we improve access to home ownership?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this week\u2019s episode of the 10-Minute Take we are joined by special guest, RBC\u2019s Assistant Chief Economist Robert Hogue to discuss his latest report,<em>&nbsp;<a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/canadian-housing\/special-housing-reports\/the-great-rebuild-seven-ways-to-fix-canadas-housing-shortage\/\" data-dig-id=\"LP-The10-MinuteTake-2932-d8b67bf3\" data-dig-label=\"The Great Rebuild\" data-dig-action=\"link click\" data-dig-category=\"LP-The10-MinuteTake\" class=\"rbc-link-format\">The Great Rebuild<\/a><\/em>. Robert will unpack what has driven Canada\u2019s momentous housing supply challenges and how they can be solved in the years ahead.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1802369334&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 3, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e7-what-can-we-expect-from-canada-s-new-cap-on-temporary-residents\">S2:E7 What can we expect from Canada\u2019s new cap on temporary residents?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Two weeks ago, Canada\u2019s Minister of Immigration announced plans to limit the scope of international migration in Canada over the coming years. The announcement detailed early measures to reduce the share of temporary residents (mostly study and work permit holders) in the population to 5% over the next three years. In order for that target to be reached, the number of temporary residents in Canada will need to drop by a staggering 20% over the same time frame.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this week\u2019s episode of the 10-Minute Take, RBC Economists Claire Fan and Carrie Freestone break this new policy down. They will walk through details of the newly announced cap, who\u2019s expected to be impacted in the near-term before delving deeper to discuss the broader implications on Canada\u2019s population growth, GDP and other important economic metrics.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1791089503&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 6, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e6-why-is-it-so-hard-for-renters-to-save\">S2:E6 Why is it so hard for renters to save?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canadian renters are more squeezed than ever before! Renters are allocating a greater share of their take-home pay to housing than homeowners at the same time that costs for other essentials (and interest on debt) have risen. This has resulted in renters as a collective spending more than they earn. Down-payment requirements are mounting relative to take-home pay, making it exceptionally difficult to save for a home.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this week\u2019s episode of the 10-Minute Take, RBC Economists Claire Fan and Carrie Freestone unpack housing as a vehicle for wealth accumulation, explaining how opportunities for wealth generation are becoming less accessible and what that means for a large segment of Canada\u2019s population.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1779524730&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 6, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e5-will-generative-ai-lift-canadian-productivity\">S2:E5 Will Generative AI lift Canadian productivity?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Generative AI tools like ChatGPT have seen tremendous success among consumers just over a year after it hit the market. Businesses, however, are more skeptical \u2013 just over 9% of Canadian businesses said that they have adopted Gen AI in Q1 this year, according to a survey from Statistics Canada. The technology has been hailed by many as \u201cproductivity enhancing\u201d. And that\u2019s an area that Canada has been underperforming for decades. Growth in productivity bears great importance as that what real wage growth, and therefore people\u2019s living standards greatly depend on. So can generative AI be the silver bullet that pulls the Canadian economy out of its productivity rut?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Join RBC economists Claire Fan and Carrie Freestone on this episode of the 10-Minute Take, as they walk through some of the latest stats on generative AI adoption, the opportunities and challenges that lie ahead before diving in to discuss what technology might mean for the Canadian economy.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1766492172&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 21, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e4-will-the-international-student-cap-impact-canadian-rents\">S2:E4 Will the international student cap impact Canadian rents?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Over the past few years, Canada\u2019s population growth has eclipsed the global average. International students accounted for about 20% of the recent population surge. The immense growth has ignited concerns about housing availability and affordability.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, we welcome back RBC Economist Rachel Battaglia, who will unpack the new federal policy and explain whether it will have an impact on rental demand (and prices) going forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1753453998&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">February 08, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e3-what-will-drive-growth-in-the-back-half-of-2024\">S2:E3 What will drive growth in the back half of 2024?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In 2023, Canadian households faced higher debt-servicing costs on mortgages and consumer credit as well as higher rents. Canadians had to tighten their belts and in many cases, forgo savings. Will 2024 look different? What will drive the slow rebound in the back half of the year? Join RBC Economists Claire Fan and Carrie Freestone as they unpack consumer trends and explain why the back half of this year will look different.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1740616428&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 24, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e2-surprises-in-2024-already\">S2:E2 Surprises in 2024, already?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Just a couple of weeks into the new year and the economic landscape is full of surprises. Data on Canadian inflation again showed just how \u201csticky\u201d domestic price pressures can be. Globally, supply chains are again being challenged, with attacks in the Red Sea disrupting container shipments. And finally, Canadian labour markets have been slowing for months. But unlike prior downturns, layoffs have actually been relatively limited and it\u2019s longer job searches for students and new graduates that are bearing the brunt instead.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, join RBC economists Carrie Freestone and Claire Fan as they walk through three key trends that already jumped out as surprises in 2024.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1725672006&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">January 11, 2024<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s2-e1-when-are-interest-rate-cuts-coming\">S2:E1 When are interest rate cuts coming?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">It\u2019s a new year and the Bank of Canada (BoC)\u2019s overnight rate is currently sitting at its highest level in over two decades. Canadians facing higher borrowing costs are eager to see the BoC come to the rescue by changing course with interest rate cuts. But is the economic data soft enough for the BoC to pivot?<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">On this episode of the 10-Minute Take, RBC economists Carrie Freestone and Claire Fan unpack their views on when rate cuts will happen and what the trajectory will look like.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1713932772&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">December 7, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e21-what-surprised-economists-in-2023\">S1:E21 What surprised economists in 2023?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Canadian economy has seen some pivotal shifts in 2023. The year started off with inflation at multi-decade highs, widespread labour shortages, and exceptionally strong consumer spending. The economy was very obviously overheating, and \u201crecession\u201d was more of a buzzword than a reality. Fast-forward to December, excess demand in the economy is all but depleted. And the macro data is looking considerably softer, in-line with a mild recession.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Join RBC Economists Claire Fan and Carrie Freestone in this final episode of the season, where they provide a recap of key macro themes that played out this year and tell you what to look out for in the year ahead.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1683830049&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-r-0 mob-pad-r-0 pad-l-0 mob-pad-l-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 8, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e20-what-s-going-on-in-the-canadian-jobs-market\">S1:E20 What\u2019s going on in the Canadian jobs market?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Many indicators these days are pointing to deteriorations in labour market conditions in Canada. Job vacancies are down, job searching times have lengthened. The unemployment rate is still low but has increased by 0.7% over the span of 6 months.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Clouding the outlook for the Canadian jobs market is also the slowdown in consumer demand, especially for discretionary services industries where staffing levels never fully recovered to pre-pandemic to begin with. Outright layoffs to-date are still limited. But record level of household indebtedness these days also means that job losses, when they come, could hurt much more than they used to.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this week\u2019s episode of the 10-Minute Take, economists Carrie Freestone and Claire Fan look at the latest Canadian labour market data. They\u2019ll discuss what\u2019s behind the ongoing deterioration, and what to expect moving forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1649070435&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">November 8, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e19-how-has-soaring-immigration-impacted-economic-growth-in-canada\">S1:E19 How has soaring immigration impacted economic growth in Canada?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">This past decade, Canada\u2019s population growth outpaced India, China, and South and Central America, surpassing the global average. In recent years, Canada\u2019s soaring population growth has been entirely fueled by immigration. Canada relies heavily on newcomers to fill jobs left vacant by retiring Baby Boomers. But the rising need for housing is adding to pre-existing housing affordability concerns.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">In this week\u2019s episode of the 10-Minute Take, economists Carrie Freestone and Claire Fan will unpack the latest federal immigration targets, and discuss how rising immigration has impacted the Canadian economy.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1649070435&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 25, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e18-how-badly-are-canadian-businesses-and-consumers-wounded-by-high-interest-rates\">S1:E18 How badly are Canadian businesses and consumers wounded by high interest rates?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">High inflation and even higher interest rates are turning up the heat for Canadians, making it increasingly challenging for consumers and businesses to pay off existing debt, to spend or to invest.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Indeed, the latest Bank of Canada surveys revealed that almost 60% of consumers had to cut spending in Q3 as they contended with elevated prices and debt-servicing expenses. Echoing that was a slowing in demand reported by businesses, some of whom even flagged an outright decline in sales over the past year. The silver lining? Slower demand is lowering inflation pressures, making it less likely for prices to have to go up as large or as frequently moving forward.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Tune in to this week\u2019s episode of the 10-Minute Take as RBC economists Carrie Freestone and Claire Fan walk you through the latest quarterly Bank of Canada surveys, and unpack what it all means for BoC rate decisions moving forward.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1649070435&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">October 12, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e17-how-long-can-the-u-s-economy-s-outperformance-last\">S1:E17 How long can the U.S. economy\u2019s outperformance last?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">U.S GDP growth continues to soar while activity cools off in Canada. Canadians have tightened their belts, prioritizing the purchase of essentials over discretionary goods. In the U.S., consumers are still spending at a record pace and momentum has yet to fade. But will the U.S. continue to outperform Canada? We don\u2019t think so! Tune in to this week\u2019s episode of the 10-Minute Take as RBC economists Carrie Freestone and Claire Fan unpack what\u2019s driving U.S. resilience and why it won\u2019t last.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1637744463&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 28, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e16-why-are-so-many-workers-on-strike-these-days\">S1:E16 Why are so many workers on strike these days?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">High inflation has prompted many workers to push for wage increases, and unions are responding by pressuring employers to pony up. Canada has witnessed a drastic surge in labour stoppages- or strikes- in recent months. There\u2019s still a gap to close \u2013 wage increases for unionized workers since early 2020 lag those of non-unionized workers by about 7%. But will this mean sustained pressure on wage growth in the future? On this episode, we are joined by RBC Economist Rachel Battaglia to discuss what\u2019s driving the higher frequency of wage disputes and the importance of taming inflation in order to mitigate these disruptions.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1626776205&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">September 14, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e15-how-indebted-are-canadians-and-is-it-a-problem\">S1:E15 How indebted are Canadians and is it a problem?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">While Americans are still spending, Canadians are tightening their belts. And the U.S. economy continues to surge while Canada\u2019s shows early signs of weakness. Why? Debt levels and faster refinancing! In this episode of the 10-Minute Take, RBC economists Claire Fan and Carrie Freestone explain how debt impacts Canadian consumer behaviour, which age cohorts are most impacted\u2013and just how worried we should be about it all. Tune in!<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1615704093&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 30, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e14-when-china-sneezes-do-we-all-catch-a-cold\">S1:E14 When China sneezes, do we all catch a cold?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Western countries are still grappling with decade-high interest rates and elevated inflation. But in China, prices fell on a year over year basis in July. And amid softer consumer demand and a wobbly real estate market, the Chinese central bank has taken the opposite measure to its Western counterparts: cutting key lending rates.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Just how bad could things get in China? In this episode of the 10-Minute Take, RBC economists Carrie Freestone and Claire Fan break down what\u2019s happening and what it might mean for the rest of the world. We explore the slew of data coming out of the country, add some important context on demographic trends before bringing the conversation back to Canada.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1604424972&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 16, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e13-are-the-bank-of-canada-s-interest-rate-hikes-working\">S1:E13 Are the Bank of Canada\u2019s interest rate hikes working?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Western central banks don\u2019t want to push interest rates higher\u2026but they will if they need to. So how effective have rate hikes actually been?<br>The latest data offers conflicting signals: unemployment is up but inflation remains above target\u2014and consumer spending is still strong. In this episode, RBC economists Claire Fan and Carrie Freestone examine this burning question, assess the likelihood of a \u201csoft landing\u201d (and explain what that is).<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1594459788&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">August 2, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e12-will-the-pandemic-pet-economy-boom-last\">S1:E12 Will the pandemic pet economy boom last?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">If you have a four-legged friend at home, that makes you part of the pet economy!<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Today the global pet industry stands at over $250 billion USD and is over twice the size of the global film industry. Part of the boom can be traced back to the pandemic, when households\u2019 time spent at home rose substantially, along with their need for companionship \u2013 the US alone added 5 million pets from 2019 to 2022. The outlook for the pet sector however is less positive, as interest rate hikes take purchasing power out of households\u2019 hands, lowering spending on all things including pet-related products and services.<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Join RBC Economics Carrie Freestone and Claire Fan in this week\u2019s episode of the Ten Minute Take, where they take a closer look at the pet economy, how much it\u2019s grown and where it\u2019s headed.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1580158779&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 19, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e11-why-aren-t-rising-rates-cooling-canadian-spending\">S1:E11 Why aren\u2019t rising rates cooling Canadian spending?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The most aggressive monetary tightening cycle since the 1990s has sent interest rates soaring. Yet Canadians keep on spending. Why and will they keep it up? In this week\u2019s episode of the 10-Minute Take, RBC Economists Claire Fan and Carrie Freestone explain why spending will slow but won\u2019t outright decline.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1568510341&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">July 5, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e10-will-my-grocery-bills-ever-get-lower\">S1:E10 Will my grocery bills ever get lower?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">If you\u2019re wondering whether your grocery bills will ever turn out less scary than they are now, we have bad news for you. Food inflation peaked in Canada just this past January. But slowing inflation does not mean lower prices, it merely means prices will climb at a slower rate. What\u2019s causing prices for food to stay high? And moving forward, what are some of the challenges that will continue to put pressure on food prices in the next decade? Join RBC Economists Claire Fan and Carrie Freestone on this episode of the Ten Minute Take, as they dig into food inflation, and answer questions about your grocery bills.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1556598085&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 21, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e9-interest-rates-are-rising-nbsp-again\">S1:E9 Interest rates are rising&nbsp;<em>again?<\/em><\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The Bank of Canada put the brakes on its record rate hiking cycle in January. Five months later, it sprang back into action\u2014surprising much of Bay Street with a 25 basis point increase. What drove the decision and how much higher will rates rise? More important: how will this impact Canadians? Join RBC Economists Claire Fan and Carrie Freestone on this week\u2019s episode of the 10-Minute Take.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1545426367&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">June 7, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e8-what-will-this-year-s-summer-travel-season-look-like\">S1:E8 What will this year\u2019s summer travel season look like?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Anxious to scratch your travel itch this summer but worried about disruptions and high prices? You\u2019re not alone! In this week\u2019s episode of the 10 Minute Take podcast, RBC economists Carrie Freestone and Claire Fan break down this year\u2019s travel trends for you. We start with what drove the chaos last summer, before moving on to chat about some interesting trends we\u2019ve uncovered. As it turns out, despite resilient demand, Canadians have already made subtle changes to their travel choices to combat rising prices. Finally, we\u2019ll chat about the outlook for travel in an increasingly challenging economic environment, and why we expect things to slow but not crash.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1532556958&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 24, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e7-what-keeps-economists-up-at-night\">S1:E7 What keeps economists up at night?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">\u201cAllow us to introduce ourselves!\u201d In this episode of the 10 Minute Take, get to know RBC economists Carrie Freestone and Claire Fan. Spend a day in the life of an economist and get our latest hot takes on the macro outlook. What\u2019s changed since RBC\u2019s initial recession call last summer? Are signs of weakness emerging? And finally, what do we lie awake thinking about?<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1520836021&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">May 10, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e6-will-higher-wages-arising-from-labour-disputes-fire-up-inflation\">S1:E6 Will higher wages arising from labour disputes fire up inflation?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Canada\u2019s largest public sector strike in decades just ended\u2014with a deal that includes double-digit wage hikes. Will negotiated wage settlements like these undermine the Bank of Canada\u2019s efforts to cool inflation? RBC economists Carrie Freestone and Claire Fan discuss this and other issues on this episode of the 10 Minute Take.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1510511968&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 26, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e5-if-canadian-home-prices-are-falling-why-are-rents-going-through-the-roof\">S1:E5 If Canadian home prices are falling, why are rents going through the roof?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Just as house prices in Canada start to cool off, rent costs are heating up. What\u2019s driving the increase? Declining affordability comes to mind as high home prices push more would-be buyers into rentals. But are other factors at play? And just how pricey can the rental market get? On this special episode of the Ten Minute Take, Rachel Battaglia from the RBC Economics team talks us through the ups and downs of Canada\u2019s home rental market-and what\u2019s next.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1500475972&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">April 12, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e4-how-has-market-turmoil-hit-the-canadian-economy\">S1:E4 How has market turmoil hit the Canadian economy?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The failures of SVB and other U.S. regional banks sent markets roiling. But what does this mean for the broader economy? Is it all temporary noise or could it leave longer-lasting scars on financial markets? In this episode of the 10-Minute Take, RBC economists Claire Fan and Carrie Freestone will take you back to basics, explaining what market volatility is, where they see it and how it will affect economic growth and central bank decisions.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1490696689&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 31, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e3-will-budget-2023-derail-the-bank-of-canada-s-inflation-fighting-campaign\">S1:E3 Will Budget 2023 derail the Bank of Canada\u2019s inflation-fighting campaign?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">The federal budget tabled a buffet of new spending measures. But the price tag was hefty: a $40 billion deficit and no sign of a return to balanced books anytime soon. Is Ottawa spending too much? And how does the budget jive with the current economic and monetary policy backdrop? RBC economists Claire Fan and Carrie Freestone answer these and other burning questions in this episode of the 10-Minute Take.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1481444335&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 15, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e2-what-s-up-with-the-long-lines-at-my-local-coffee-shop\">S1:E2 What&#8217;s up with the long lines at my local coffee shop?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Why are restaurant reservations so hard to find these days? Labour market tightness&#8211;it&#8217;s something we hear on every corner. But what does it really mean? And how is that relevant to you? Join RBC economists Claire Fan and Carrie Freestone in this episode of the 10-Minute Take reboot, where they share their take on Canadian labour markets and where they&#8217;re heading.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1468841956&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"background-color:#eeeeee;color:#eeeeee\" \/>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel rbctl-podcast-pattern\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 mob-pad-t-0 pad-b-0 mob-pad-b-0 pad-l-0 mob-pad-l-0 pad-r-0 mob-pad-r-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-fe9cc265 wp-block-group-is-layout-flex\">\n<p class=\"mar-b-hlf mob-mar-b-qtr has-text-color has-text-sm-font-size\" style=\"color:#585858\">March 1, 2023<\/p>\n\n\n\n<h4 class=\"wp-block-heading mar-b-hlf mob-mar-b-qtr\" id=\"h-s1-e1-why-are-groceries-so-expensive-if-inflation-is-moderating\">S1:E1 Why are groceries so expensive if inflation is moderating?<\/h4>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-qtr\">Inflation is down, right? So why is my grocery bill still so high? Recent data showed price growth losing steam\u2026yet everything from coffee to chocolate is still expensive. We&#8217;ll explain why, and what to expect in the months ahead on the first episode of the 10-Minute Take reboot.<\/p>\n\n\n\n<div style=\"width:100%;height:20px\" class=\"wp-block-rbc-rbc-iframe mar-b-hlf mob-mar-b-qtr\"><iframe loading=\"lazy\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https:\/\/api.soundcloud.com\/tracks\/1458464347&amp;color=%23ff5500&amp;inverse=false&amp;auto_play=false&amp;show_user=true\" width=\"100%\" height=\"100%\" style=\"border:none\" title=\"Iframe Embed\"><\/iframe><\/div>\n\n\n\n<div class=\"wp-block-group rbctl-podcast-pattern-listen-on-group has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f4f8f9;padding-top:10px;padding-right:10px;padding-bottom:10px;padding-left:10px\">\n<p><strong>Listen on:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-10-minute-take\/id1508242158\" target=\"_blank\" rel=\"noreferrer noopener\">Apple Podcasts<\/a>, <a href=\"https:\/\/open.spotify.com\/show\/7fF7HUWbzFSlcp3rBoHo71?si=nF4Mw78nQxeIHY13Lm7SfQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> or <a href=\"https:\/\/soundcloud.com\/rbc-thought-leadership\" target=\"_blank\" rel=\"noreferrer noopener\">Sound Cloud<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide wide mar-b mob-mar-b\" style=\"margin-top:0;margin-bottom:0;background-color:#eeeeee;color:#eeeeee\" \/>\n","protected":false},"excerpt":{"rendered":"<p>One month into 2026, U.S. inflation continues to run above 2% for a fifth consecutive year\u2014and the reasons go well beyond a single cause. <\/p>\n","protected":false},"author":10,"featured_media":7137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[89],"tags":[115,11,65,58,74,110],"rbc_econ_content_type":[],"class_list":["post-2932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-10-minute-take","tag-canada","tag-economy","tag-inflation","tag-labour-market","tag-mortgage","tag-u-s"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Podcast: The 10-Minute Take - RBC Economics<\/title>\n<meta name=\"description\" content=\"Macroeconomics for everybody! It\u2019s everything you wanted to know but were too shy to ask \u2014 in less than 10 minutes.\" \/>\n<meta name=\"robots\" content=\"index, nofollow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Podcast: The 10-Minute Take\" \/>\n<meta property=\"og:description\" content=\"Macroeconomics for everybody! It\u2019s everything you wanted to know but were too shy to ask \u2014 in less than 10 minutes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Economics\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-16T09:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-16T16:20:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/podcast-UPDATED-2.png?quality=80\" \/>\n\t<meta property=\"og:image:width\" content=\"3067\" \/>\n\t<meta property=\"og:image:height\" content=\"1850\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"RBC\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"RBC\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"44 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\"},\"author\":{\"name\":\"RBC\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\"},\"headline\":\"Podcast: The 10-Minute Take\",\"datePublished\":\"2026-04-16T09:00:00+00:00\",\"dateModified\":\"2026-04-16T16:20:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\"},\"wordCount\":10050,\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/podcast-UPDATED-2.png?quality=80\",\"keywords\":[\"Canada\",\"Economy\",\"Inflation\",\"Labour Market\",\"Mortgage\",\"U.S.\"],\"articleSection\":[\"The 10-Minute Take\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\",\"url\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/\",\"name\":\"Podcast: The 10-Minute Take - RBC Economics\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/the-10-minute-take\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbc.com\/en\/economics\/wp-content\/uploads\/sites\/23\/2026\/01\/podcast-UPDATED-2.png?quality=80\",\"datePublished\":\"2026-04-16T09:00:00+00:00\",\"dateModified\":\"2026-04-16T16:20:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.rbc.com\/en\/economics\/#\/schema\/person\/565fe74483a298c05d1be363c890c7b0\"},\"description\":\"Macroeconomics for everybody! 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