• 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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• Ottawa considering ‘options’ as foreign home buyer ban nears end: minister

  Source: Global News Politics
  Date: 2026-10-07 20:34:15.0
  Tags: [National, Housing, Affordability, Economy, Finance]

  Federal Finance Minister François-Philippe Champagne announced that the Liberal government is considering options regarding the future of the ban on foreign ownership of Canadian residential property. The restriction, originally enacted in 2022 to cool housing markets for Canadian buyers and previously extended in 2024, is scheduled to sunset in January 2027. The government's decision on whether to extend, modify, or allow the ban to expire will be evaluated based on housing stock availability and market evolution ahead of the upcoming federal budget.

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• Yukon premier touts 'improved fiscal picture' in territory with budget update

  Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
  Date: 2026-10-05 11:00:00.0
  Tags: [National, Finance, Economy, Infrastructure, Mining, Affordability]

  Yukon Premier and Finance Minister Currie Dixon tabled the Yukon Legislative Assembly's fall economic update and a partial capital plan for 2027, projecting a revised budget deficit of $53.7 million—down from the previously predicted $82 million. Forecasted revenues increased by $23.8 million due to higher federal transfers, taxes, and resource royalties, while projected expenditures dropped by $4.2 million, and net debt is now expected to reach $776.2 million by year-end. The 2027 capital spending plan allocates $138.8 million for the upcoming construction season, targeting projects such as the North Klondike Highway, the Shakwak corridor, the Whitehorse hospital expansion, and housing in Burwash Landing, Mayo, and Teslin. Simultaneously, the territory's economic update projects slower real GDP growth driven by lower production at the Keno Hill mine and placer gold operations, alongside elevated local inflation expected to average 4.6 per cent in 2026 due to higher shelter costs, electricity prices, and a greater reliance on heating oil.

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• Health, higher fuel costs drive $440.4M deficit forecast in P.E.I.'s fiscal and economic update

  Source: Prince Edward Island - Regional News
  Date: 2026-09-28 22:25:02.0
  Tags: [Prince Edward Island, Finance, Healthcare, Economy, Affordability]

  The Government of Prince Edward Island, led by Finance and Affordability Minister Jill Burridge, released its first-quarter fiscal and economic update for 2026-27, projecting a deficit of $440.4 million. This represents a $30.5 million increase from the operating budget tabled in April, driven by an additional $53.4 million in spending primarily directed toward healthcare, social program funding, and higher diesel and heating fuel costs. Despite the increased deficit and spending pressures, the province reported improving economic indicators, including a 7.1 per cent year-to-date growth in labour income and retail sales, alongside a 24.6 per cent increase in housing starts.

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• Strong and Steady: Saskatchewan Maintains Top Provincial Credit Rating

  Source: Saskatchewan - Government News
  Date: 2026-09-14 21:00:00.0
  Tags: [Saskatchewan, Finance, Taxation, Economy, Affordability]

  Moody's Investors Service, Morningstar DBRS, and S&P Global have affirmed Saskatchewan's top provincial credit ratings (Aa1, AA (low), and AA respectively) with stable outlooks, citing strong financial management and a manageable debt burden. Deputy Premier and Minister of Finance Jim Reiter noted that the province's economic strength supports the 2026-27 Budget, which implements the second year of a four-year provincial income tax reduction plan providing approximately $200 million in savings. Under this plan, a family of four pays no provincial income tax on their first $65,000 of income, representing the highest threshold in Canada. Furthermore, Saskatchewan projects real Gross Domestic Product growth to rank third-highest among provinces in 2026 and second-highest in 2027, alongside maintaining the second-lowest net-debt-to-GDP ratio in the country.

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• Liberals will extend gas and diesel tax holiday into 2027, sources say

  Source: CBC Politics
  Date: 2026-09-02 13:09:12.0
  Tags: [National, Taxation, Affordability, Economy, Finance]

  Finance Minister François-Philippe Champagne announced an extension of the federal excise tax holiday on gasoline and diesel until early 2027. Originally introduced in April by Prime Minister Mark Carney as a temporary measure costing an estimated $2.4 billion to mitigate short-term oil price pressures from the U.S. conflict with Iran, the policy cuts the 10-cent federal excise tax per litre of gas and 4 cents per litre of diesel. The extension comes amid ongoing demands from provincial leaders like Ontario Premier Doug Ford and federal Conservative Leader Pierre Poilievre for further tax relief.

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