Why the Bank of Canada could be done cutting its policy rate for now
The Bank of Canada has largely kept to the sidelines as it tries to get a sense of how U.S. tariffs will impact the economy — and some economists think it might just stay there.
After a quarter-point cut in March, the central bank held its benchmark interest rate steady at 2.75 per cent in April and June.
With last month's jobs figures showing a surprise gain and core inflation levels holding steady at around three per cent, economists now broadly expect the central bank will continue its holding pattern at its next decision on July 30.
Ottawa army unit head removed as part of social media misconduct probe
The head of an Ottawa-based Canadian Army regiment has been temporarily removed as part of an investigation into alleged online behaviour that the commander of the army says disgraced the military.
The commanding officer of the Cameron Highlanders of Ottawa has been removed from his post in connection with a probe into the "Blue Hackle Mafia" social media group, Lt-Gen Michael Wright said in a statement to army ranks Wednesday and shared with The Canadian Press Thursday.
Unionized Canada Post workers to vote on deal starting July 21
Unionized Canada Post workers will get a chance to vote directly on the employer's offers for a new collective agreement starting on Monday.
The Canada Industrial Relations Board will run the vote between July 21 and Aug. 1.
A simple majority vote will decide whether the proposal is accepted or rejected.
Canada Post is at an impasse with the union representing roughly 55,000 postal service workers after 19 months of talks.
Stubborn core inflation in June likely cements calls for Bank of Canada rate hold
Underlying inflation remained stubbornly hot in June, leading financial markets and many economists to firm up calls for a third straight interest rate hold from the Bank of Canada later this month.
Statistics Canada said Tuesday that the annual pace of inflation accelerated to 1.9 per cent in June, up from 1.7 per cent in May and largely in line with economists’ expectations.
Prices didn't ease much at the gas pumps last month, the agency said, and higher prices on motor vehicles and other durable goods also drove inflation higher.
Inflation rises to 1.9% in June as vehicle price hikes accelerate
The annual pace of inflation accelerated to 1.9 per cent in June as consumers were paying more at car dealerships, Statistics Canada said Tuesday.
The June price hike is up from 1.7 per cent in May and was largely in line with economists’ expectations.
StatCan said gasoline prices were nearly unchanged in June as higher crude oil prices and geopolitical conflicts ratcheted up pressure at the pumps. Motorists saw a steeper monthly decline in prices this time last year, which the agency said led to a rise in headline inflation.
Poilievre wants Carney to cash out blind trust, says ethics screens insufficient
The Conservatives want Prime Minister Mark Carney to sell all the assets in his blind trust to avoid any possible conflicts of interest.
Carney set up the blind trust after he was sworn in as prime minister in March and the details of how it works were made public on Friday.
They show that the prime minister has set up screens to avoid potential conflicts related to his previous interests in Brookfield Asset Management, Brookfield Corporation and Stripe Inc.
But Conservative Leader Pierre Poilievre believes that's not enough.
Canada adds surprise 83,000 jobs in June, driving unemployment rate down to 6.9%
Canada’s labour market topped expectations in June amid a surprise surge in hiring.
Statistics Canada said Friday that the unemployment rate dropped a tenth of a percentage point to 6.9 per cent in June as the economy added some 83,000 jobs.
The vast majority of those jobs were part-time, the agency said, with 47,000 positions added in the private sector.
A Reuters poll of economists heading into Friday’s release had expected the jobless rate would rise to 7.1 per cent in June as employment levels held flat.
Steady May inflation figures don't make the case for rate cuts: economists
May inflation figures showed marginal improvements in some of the Bank of Canada's closely watched price figures — a step in the right direction, some economists say, but likely not enough to convince the central bank to cut interest rates.
The annual pace of inflation held steady at 1.7 per cent last month as cooling shelter costs helped tame price pressures, Statistics Canada said Tuesday.
Carney says Middle East 'highly volatile' after U.S. strikes Iran, calls for calm
Prime Minister Mark Carney is calling for de-escalation after the United States carried out strikes against Iranian nuclear sites early Sunday.
Carney issued a social media post saying the U.S. military action was "designed to alleviate" threats posed by Iran, but the situation in the Middle East remains "highly volatile."
He says stability in the region is a priority and is calling on parties to get back to the negotiating table to find a diplomatic solution.
Average family to save $280 per year from Liberal tax cut: PBO
The average Canadian family will save $280 on their taxes next year from the Liberal government's planned income tax cut, the parliamentary budget officer said in an analysis released on Wednesday.
But some seniors and single Canadians are expected to save less, prompting criticism from Conservatives who argue the tax cut doesn't go far enough.