Bank of Canada research to be published in next month's FSR notes that there are some natural self-correcting market forces at work, which should help to ensure that rating agencies improve their rating process in the future. There may still be a useful role for regulators in fostering an industry-led code of conduct and in reconsidering the role that ratings play in various regulations.
6 Price increases for nondurable goods moderated, and price declines in used vehicles as well as durable goods other than motor vehicles more than offset further increases in the prices of new cars and trucks. Prices for PCE services excluding energy and housing declined 0.1 percent in July, the first price decline in this category since November 2020.