The Bank of Canada cut its key policy rate by 50 basis points on Wednesday to take it to 3.25 per cent. Here is the text of the central bank's decision: The Bank of Canada today reduced its target for the overnight rate to 3.25 per cent, with the Bank Rate at 3.75 per cent and the deposit rate at 3.25 per cent. The Bank is continuing its policy of balance sheet normalization. The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, the economy continues to show broad-based strength, with robust consumption and a solid labour

Prime Minister Justin Trudeau says women's rights and women's progress is under attack, pointing to the recent defeat of U.S. presidential candidate Kamala Harris as an example. Speaking on Tuesday night at an event hosted by the Equal Voice Foundation — an organization dedicated to improving gender representation in Canadian politics — Trudeau said there are regressive forces fighting against women's progress. "It shouldn't be that way. It wasn't supposed to be that way. We were supposed to be on a steady, if difficult sometimes, march towards progress," Trudeau said, adding he is a pro

Ontario Premier Doug Ford says the country's premiers are meeting virtually Wednesday with the prime minister to discuss the threat of U.S. tariffs on Canadian imports. It comes two weeks after the premiers' last meeting with Justin Trudeau, where they discussed how to respond to U.S. president-elect Donald Trump's warning that he will impose a 25 per cent tariff on goods from Canada and Mexico when he takes office next month. Ford says the federal government promised to present a plan to the premiers for their approach to negotiations with Trump and his officials. Ford says he hopes the plan

Canadians may see some relief on interest rates as the Bank of Canada is expected to cut rates on Wednesday. However, experts have warned that if the central bank makes a significant cut, as many in the market anticipate, the already weakening Canadian dollar could fall further. The Bank of Canada is widely expected to reduce its benchmark interest rate for the fifth consecutive time tomorrow. The current rate stands at 3.75 percent, and many economists are predicting a 50-basis-point (or half a percentage point) cut. This expectation of a substantial rate cut has grown following last month's

Canada's main opposition, the Conservatives, have failed in their third and latest attempt to topple Prime Minister Justin Trudeau's minority government. The NDP, which supports the Liberal minority government, blocked the Conservatives' no-confidence motion. NDP Leader Jagmeet Singh had previously made it clear that although the Conservatives' motion was based on his words, his party would not fall for their tactics and would vote against it. While Singh was not in the House during the vote due to a prior meeting, he participated in the online vote. Meanwhile, MPs also voted on an NDP motion

Finance Minister Chrystia Freeland is not committing to meeting the $40.1-billion deficit target she set for the government last year. Freeland says she expects the fall economic statement, which she will present on Dec. 16, will show a declining debt-to-GDP ratio. When asked if she would also meet her deficit target, Freeland wouldn't answer, saying she chose her words "carefully." The finance minister announced a set of fiscal guardrails last fall in response to pressure from the Bank of Canada and economists to avoid fuelling inflation with too much spending. Freeland now appears to be ditc

With the Canada Post strike nearing four weeks, the postal service says it doesn't see an end in sight. On Monday, the Canadian Union of Postal Workers sent over its latest list of proposals, which include wage gains and job protections. But Canada Post said in a statement that the proposals don't bring the two sides any closer together in a dispute that's brought millions of deliveries to a halt. Despite calls for the government to intervene, Prime Minister Justin Trudeau said Monday that the government is putting pressure on the two sides to reach an agreement. One of the key issues in barga

L-G-B-T-Q advocate organizations say they're working as quickly as possible to ask a court to stop the government from bringing into force an Alberta law they say will cause immediate harm. The law will ban doctors from providing gender-affirming treatment such as puberty blockers and hormone therapy for those under 16. Bennett Jensen of Egale (EE'-gal) Canada, says along with Skipping Stone and five Alberta families, they will call for an injunction to protect young people's access to health care while the courts decide whether the law is constitutional. In documents filed with the Court of

Crossing the Canada-US border could soon become more challenging, as the Trudeau government considers a major investment to enhance border security. This move aims to address incoming U.S. President Donald Trump’s concerns about illegal crossings and mitigate the risk of tariffs on Canadian imports. Sources suggest the government may allocate over $1 billion for increased surveillance at the border. The proposal, which includes various measures, is expected to be presented to the federal cabinet soon. During a press conference in Ottawa, Treasury Board President Anita Anand confirmed the go