Deputy Prime Minister and Finance Minister Chrystia Freeland is internet hosting an in-person assembly Friday with the provincial and territorial finance ministers in Toronto.
The assembly comes at a tense time for a lot of Canadian shoppers, with inflation nonetheless operating scorching and rates of interest a lot larger than they had been a yr in the past.
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The Bank of Canada raised its key charge once more final week, bringing it to 4.5 per cent, however signalled it’s taking a pause to let the influence of its aggressive mountaineering cycle sink in.
The financial system is exhibiting indicators of slowing, however inflation continues to be excessive at 6.3 per cent in December, with meals costs specifically remaining elevated yr over yr.
Interest charges have put a damper on the housing market, sending costs and gross sales downward for months on finish at the same time as the price of renting went up in 2022.
Meanwhile, the labour market has remained robust, with the unemployment charge nearing document lows in December at 5 per cent.
