Mexico's economic activity indicators in the third quarter point to economic growth in line with forecasts of 2.4% annual growth in 2022, the country's finance ministry said on Friday, Reuters reported. "The Mexican economy continues to grow with solid macroeconomic balances despite a challenging international environment," the ministry said in a statement. The ministry said dynamic economic activity and a strong labor market led to "positive results" in tax collection, putting it on track to meet year-end estimates.

The Bank of Canada announced a smaller-than-expected interest rate hike on Wednesday and made clear more increases were still needed, even as it forecast the economy could soon slip into a slight recession, Reuters reported. The central bank increased its policy rate by half a percentage point to 3.75%, a 14-year high but coming up short on calls for another 75 basis points move. It has lifted rates by 350 basis points since March, one of its fastest tightening cycles ever.

Mexican annual inflation slowed more than expected in the first half of October but remained far above the central bank's target rate, data from national statistics agency INEGI showed on Monday, Reuters reported. Headline inflation in Latin America's second-largest economy inched down to 8.53% from 8.64% in the second half of September. "With the measures we're taking we are seeing a slowdown in inflation," President Andres Manuel Lopez Obrador told a news conference, pointing to a pact with retailers to contain prices of key food staples.

Mexico's economy likely stagnated in September after two months of expansion, according to a preliminary estimate provided by the national statistics agency on Thursday, Reuters reported. The Economic Activity Indicator (IOAE) did not register any variation compared to the previous month. For Mexico's secondary sector, which includes manufacturing activities, no monthly variation is expected in September either, while for the tertiary sector, covering services, a 0.1% contraction is anticipated, according to the report.

Canada's annual inflation rate edged down but exceeded forecasts in September while underlying price pressures were largely unchanged, data showed on Wednesday, amplifying calls for another hefty rate hike by the central bank next week, Reuters reported. Inflation was 6.9%, ahead of forecasts of 6.8% and down from 7.0% in August. Excluding food and energy, prices rose 5.4% from 5.3% in August.

Canada is still one of the only developed countries that U.S. politicians can look to for guidance on how to go fully legal. Official data shows that four years after opening up on Oct. 17, 2018, one-third of Canada’s cannabis sales still happen in the black market, the Wall Street Journal reported. That’s hardly ideal, but the situation is improving as legal sellers do a better job at attracting customers. In Ontario, cannabis costs just 2% more than what is available in the illegal market, according to an EY report. Investors have been razed, though.

Business sentiment has softened in Canada and most firms now think a recession is likely, a Bank of Canada survey showed on Monday, but inflation expectations remain high, leaving the central bank little choice but to continue raising rates, Reuters reported. The bank's Business Outlook Survey showed 77% of firms see price growth staying above 3% for the next two years. A separate survey showed near-term consumer inflation expectations at record highs, though longer term expectations have eased, providing some relief.

Mexico's biggest non-bank lenders may need to become licensed banks, analysts said, as they maneuver through growing market turmoil to avoid the fate of three big peers who defaulted in the past year, Reuters reported. "Any fintech with serious, long-term ambitions will likely have to find a way to become a bank," says Mike Packer, an investor at QED, a venture capital fund which has backed several lending fintechs. During the pandemic, the non-bank institutions grew to represent 20% of Mexico's private credit market.

LATAM Airlines, the biggest carrier in Latin America, said it plans to conclude its exit from bankruptcy on Nov. 3, Reuters reported. "This process will allow the group to emerge more agile, with a more competitive cost structure, adequate liquidity to face the future, with approximately $10.3 billion in equity, and close to $6.9 billion in debt," the company said in a statement late on Friday. LATAM filed for chapter 11 in 2020 after airline travel was hammered during the pandemic, and it won court approval that June.

A federal appeals court deferred ruling on whether U.S. bondholders have valid claims over Venezuela’s prized oil refiner Citgo Petroleum Corp., instead asking New York state’s highest court to decide on the disputed $1.7 billion debt, WSJ Pro Bankruptcy reported. The Second Circuit Court of Appeals in New York asked for guidance on whether bondholders are entitled to seize the controlling stake in Citgo they hold as collateral after Venezuela’s opposition movement stopped making payments on bonds secured by the Houston-based refiner.