As inflation ticks lower to 1.8% in December, economists expect further BoC rate cuts
Canada's annual inflation rate ticked lower in December, thanks in part to Ottawa's temporary GST tax break, but economists still see interest rate cuts on the horizon as potential tariffs loom.
Statistics Canada said Tuesday the annual inflation reading for December came in at 1.8 per cent, down from 1.9 per cent in November.
The report noted restaurant food purchases and alcohol bought from stores contributed the most to the deceleration — items which were subject to the tax reprieve, along with children's clothes and toys, among others.
Liberals split on how quickly to proceed with choosing new leader
Attention is turning quickly in Ottawa to who will replace Justin Trudeau who announced Monday he will step aside as prime minister and Liberal leader as soon as a new leader is chosen.
But some former Liberal advisers are split on how quickly the process should move.
With Parliament set to resume March 24, there's little time for Trudeau's successor to actually lead before the government surely falls at the earliest confidence vote.
But having a quick leadership race provides little time for the party electorate to get to know the candidates.
Canadian icon Terry Fox to be featured on new $5 bill
Terry Fox has been selected to appear on the next $5 bank note.
The federal government made the revelation in its fall economic statement on Monday.
Fox is a Canadian icon who campaigned for cancer research by running his Marathon of Hope in 1980.
An amputee himself after losing his leg to cancer, Fox's marathon raised more than $24 million dollars — $1 for every Canadian at the time.
He was the youngest person to be named a Companion of the Order of Canada before his death in 1981 when his cancer spread to his lungs.
Plan to add resources to border will come before Trump inauguration: LeBlanc
Canada will beef up its border security in time for the inauguration of president-elect Donald Trump, Public Safety Minister Dominic LeBlanc said Tuesday as he appeared at a House of Commons committee.
Ottawa to deliver apology, $45M in compensation for Nunavik Inuit dog slaughter
The federal government is providing $45 million in compensation to Inuit in Nunavik as part of Canada's apology for its role in the killing of sled dogs between the mid-1950s and the late 1960s.
Crown-Indigenous Relations Minister Gary Anandasangaree is travelling to Kangiqsujuaq is scheduled to apologize for Canada's role in the killings Saturday afternoon in Northern Quebec.
Government spending in limbo as Tories, Liberals continue game of chicken in House
Treasury Board President Anita Anand is warning that if the House of Commons doesn't get back to regular business, some government departments might be in financial trouble.
On Monday, Anand tabled a supplementary estimates request for $21.6 billion to fund programs including housing, dental care and the national school food program.
One of the biggest-ticket items is $970.8 million for compensation adjustments for civil servants as a result of collective bargaining agreements.
Chrystia Freeland says carbon rebate for small businesses will be tax-free
Deputy Prime Minister and Finance Minister Chrystia Freeland says the Canada carbon rebate for small businesses will be tax-free.
In a statement posted to X late Tuesday, Freeland clarified the parameters of the program after an advocacy group for small business raised concerns that the rebate would be a taxable benefit.
Dan Kelly, president and CEO of the Canadian Federation of Independent Business, posted on X soon after that post that he had received a call from Freeland, who offered "assurance" that the rebate would be tax-free.