• Bank of Canada raises key interest rate to 2.5% in its first hike since 2023

  Source: CBC Politics
  Date: 2026-10-28 12:33:56.0
  Tags: [National, Economy, Finance, Trade, Affordability]

  The Bank of Canada, led by Governor Tiff Macklem, raised its benchmark overnight interest rate by 25 basis points to 2.5 per cent, marking its first rate hike since 2023. The central bank stated that the increase is necessary to curb persistent inflation—projected to remain above 3 per cent through much of 2027—which is driven largely by surging energy prices from the Middle East conflict and rising trade tensions with the United States. Policymakers warned that further rate hikes could occur depending on future economic uncertainties and cost pressures.

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• PQ leader says referendum not immediate priority as he prepares to lead minority government

  Source: Global News Politics
  Date: 2026-10-07 09:00:19.0
  Tags: [Quebec, Governance, Affordability, Social Services, Trade]

  Following the Parti Québécois election victory where the party secured 59 seats, Premier-designate Paul St-Pierre Plamondon announced that a sovereignty referendum is not an immediate priority for his minority government. Instead, the government will focus on pressing issues including organizing a summit on homelessness, freezing salaries for National Assembly members and Crown corporation directors, creating a secretariat to review government spending and bureaucracy, and appointing a trade team to address trade tensions with the United States. St-Pierre Plamondon will require legislative collaboration with opposition parties, including the Liberals with 40 seats, the Conservative Party with 19 seats, and Québec solidaire, to pass policy initiatives.

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• P.E.I. consumers will pay more in wake of Canadian counter-tariffs

  Source: Prince Edward Island - Regional News
  Date: 2026-09-09 09:00:00.0
  Tags: [Prince Edward Island, National, Trade, Economy, Industry, Affordability]

  Retaliatory counter-tariffs implemented by Canada on American-made products took effect, raising import prices and impacting businesses and consumers on Prince Edward Island. Sam Sanderson, executive director of the Construction Association of Prince Edward Island, noted that approximately 65 per cent of construction materials used in the province originate from the U.S. and face these tariffs, potentially increasing material costs by 20 to 50 per cent. Prime Minister Mark Carney released a video stating that Canada will respond to the ongoing trade war by reducing reliance on the United States and pursuing new international trade agreements. Meanwhile, Prince Edward Island businesses such as MacArthur's Appliances, led by owner-operator Chris Welton, are managing price hikes and noting a shift in consumer sentiment away from American-made goods. The provincial government has also rolled out $12.5 million in support for businesses affected by U.S. tariffs.

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