The Bank of Canada has raised its benchmark interest rate by 0.25 percentage points for the first time in three years, increasing it from 2.25% to 2.50%. Bank of Canada Governor Tiff Macklem said the decision was aimed at keeping inflation under control amid economic pressures caused by a sharp rise in crude oil prices. The central bank had held its policy rate at 2.25% for seven consecutive decisions. Following the latest increase, mortgages, car loans and other commercial borrowing are expected to become more expensive, putting additional financial pressure on Canadians. Citing elevated oil

Alberta United Conservative Party (UCP) MLA Shane Getson has resigned from his position, citing personal and family reasons. However, he has not provided further details about his decision. Getson had represented the predominantly rural riding of Lac Ste. Anne-Parkland, northwest of Edmonton, since 2019. During his tenure, he became known for his outspoken remarks, which frequently drew criticism from political opponents. In 2025, Getson faced significant backlash over statements concerning transgender surgeries. In 2022, he also voiced opposition to COVID-19 restrictions and vaccine mandates

Prime Minister Mark Carney held a high-level meeting with premiers and First Nations leaders in Ottawa today ahead of the upcoming federal budget, aiming to address obstacles and opposition that could delay major projects. During the meeting, Carney pledged greater support for Indigenous communities and promised to build stronger partnerships with them. It was the first time in two decades that federal, provincial and First Nations leaders had gathered at the same table for direct discussions on key national issues. Carney said his government would announce new measures for First Nations in th

The BC Conservatives have secured a historic victory in the provincial election, winning 63 seats and achieving a clear majority for the first time in nearly 100 years. Following the victory, interim party leader Lorne Doerkson is set to become the province’s next premier. Meanwhile, David Eby has resigned as leader of the BC NDP, taking responsibility for his party’s defeat. Addressing his supporters, Eby said he was stepping down with a heavy heart and that it was time for new leadership within the party. In his victory speech, Doerkson praised Eby, acknowledging the sacrifices involved

U.S. President Donald Trump has claimed that Washington and Ottawa are close to reaching a trade deal, while asserting that the United States holds all the cards in the negotiations. Speaking to reporters in Washington, Trump said Canada was working very hard to secure an agreement with the U.S., adding that the final decision rests with Washington. Earlier, Canadian Prime Minister Mark Carney said at a press conference in Istanbul, Türkiye, that Canada remained in regular contact with the United States and was ready to negotiate in good faith to reach a trade agreement that serves the intere

Canada’s Industry Minister Mélanie Joly has issued a 15-day ultimatum to Cleveland-Cliffs, the U.S. parent company of Hamilton-based steelmaker Stelco, demanding that it reinstate approximately 500 laid-off workers or face legal action. The federal government says Cleveland-Cliffs agreed not to carry out layoffs in Canada until 2029 when it acquired Stelco in 2024. However, the company has defended the job cuts by citing tariffs imposed by U.S. President Donald Trump on Canadian steel. Joly has warned that the government could take the matter to court, potentially forcing Cleveland-Cliffs t

Canada’s real estate market could face renewed pressure if the Bank of Canada raises interest rates, with mortgage and lending experts warning that higher borrowing costs could discourage homebuyers and push house prices lower. The central bank has not raised interest rates since July 2023. While it is expected to keep its benchmark rate unchanged for an eighth consecutive decision, many economists and traders believe rate hikes could be on the horizon as policymakers seek to contain inflation. The Bank of Canada’s policy rate has remained at 2.25% since a 0.25-percentage-point cut in Octo

Preliminary results from Alberta’s referendum on nine questions related to immigration and constitutional reforms show majority support for most of the provincial government’s proposals. About 58.6 per cent of voters supported giving Alberta greater control over immigration. Meanwhile, 57 per cent backed restricting access to services such as health care and education to Canadian citizens and permanent residents, while charging temporary residents fees for these services. A total of 58.4 per cent supported requiring temporary residents to live in Alberta for 12 months before qualifying for

Canada’s annual inflation rate rose to 3.1 per cent in September, slightly exceeding the Bank of Canada’s upper target limit of 3 per cent. Inflation had remained steady at 3 per cent in August. According to a report released by Statistics Canada on Monday, higher gasoline and diesel prices were the main contributors to the increase in inflation last month. Food prices also rose, although the pace of growth was slower than in the previous month. Statistics Canada reported that grocery prices increased by 1.7 per cent year over year in September, down from 2.8 per cent in August. This marke