The Bank of Canada delivered a widely expected interest rate cut today, marking the second consecutive time it has lowered its policy rate. The central bank's quarter-percentage-point cut brings its policy rate down to 4.5 per cent. The Bank of Canada says the decision was motivated by continued progress on getting inflation down as well as weakening economic conditions. In his prepared statement, governor Tiff Macklem says as inflation edges closer to its two per cent target, the central bank is trying to avoid the risk of the economy and inflation weakening by more than expected.

Prime Minister Justin Trudeau will head to British Columbia on Sunday, where he will be on vacation with his family until Aug. 1. A government official says the Prime Minister's Office is not disclosing the specific location for security reasons. Spokesman Mohammad Hussain says in an email that Trudeau travels on government aircraft as required, and will reimburse the equivalent of a commercial airline ticket for himself and his family. Hussain says Trudeau will also pay for his family's stay. The PMO has consulted with the Ethics Commissioner's office about the trip. Trudeau and his family va

Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Interest rate cut possible this week: Economists Economists and market watchers are betting the Bank of Canada will deliver another interest rate cut this week amid mounting evidence that inflation is sustainably easing. Expectations that the bank will lower its overnight lending rate when it makes its scheduled announcement Wednesday have been high since last week's release of the latest Statistics Canada inflation report, which showed annual inflation cooled to 2.7 per cent in June. The inflation readin

Prime Minister Justin Trudeau is expected to appoint a replacement for outgoing labour minister Seamus O'Regan, whose resignation is effective today. O'Regan announced Thursday he was stepping down from the Liberal cabinet for family reasons, though he intends to continue sitting as an MP until the next federal election. Trudeau's office did not indicate whether a new cabinet member would be appointed or if other ministers would be affected. A source with knowledge of the matter, who would only speak under condition of anonymity, says a broader cabinet shuffle is not expected to take place. Th

Police say the Montreal constituency office of federal Immigration Minister Marc Miller was vandalized overnight. Outside, windows were smashed and walls were defaced with paint and graffiti. Montreal police Const. Sabrina Gauthier said there was also "major damage" inside the office, located in the city's Sud-Ouest borough. Police say they think the ongoing Israel-Palestinian conflict is likely at the root of the vandalism. Pro-Palestinian protesters have frequently demonstrated in front of Miller's office over the past days and weeks. Miller said on X that he condemns the criminal act, addin

Two sources with knowledge of the situation say federal Labour Minister Seamus O'Regan is stepping down from cabinet and will not be seeking re-election. A Liberal Party source says O'Regan is expected to resign as minister at a cabinet meeting Friday. Another source with knowledge on the matter says Prime Minister Justin Trudeau will announce a replacement for the position, but a broader cabinet shuffle is not expected. O'Regan will remain the MP representing the Newfoundland riding of St. John's South Mount Pearl until the next federal election, set to take place by the fall of 2025. O'Regan

Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Carignan set to officially become defence chief Lt.-Gen. Jennie Carignan is set to officially take over command of the Armed Forces this morning in a ceremony at the Canadian War Museum in Ottawa. Carignan will also be promoted to the rank of general during the change-of-command ceremony. She was chosen by the federal government to become Canada's first female defence chief, and she's no stranger to firsts. Carignan was also the first woman to command a combat unit in the Canadian military, and her career

Foreign Affairs Minister Mélanie Joly is headed to China on Friday at the invitation of Beijing, after years of diplomatic strain following the 2018 detention of two Canadians. In recent months, China has urged Canada to work on shared priorities and draw less attention to disagreements. Joly's visit follows Canadian security officials flagging Chinese interference as the country's greatest strategic threat, a charge Beijing rejects. Canadian business leaders have called out Ottawa for being an outlier in restoring high-level dialogue with Chinese leaders, arguing Canada can still raise human

Canada's premiers are wrapping up the summer meeting of the Council of the Federation today. The premiers of the 10 provinces and three territories have been in Halifax for their three-day gathering hosted by Nova Scotia Premier Tim Houston. A statement from the premiers says key priorities that have been discussed include housing, affordability and skills training; strategic infrastructure; the future of energy; and emergency preparedness and response. Several premiers have expressed frustration over what they say is a lack of teamwork from the federal government on important files. Alberta P