Bank of Canada governor Tiff Macklem says he doesn't think the federal budget tabled last month will have much of an effect on inflation.
Macklem was testifying at a Senate committee alongside senior deputy governor Carolyn Rogers following the central bank's latest interest rate announcement.
The governor says the spending plan hasn't changed the federal government's fiscal track by much.
Macklem says that's why he doesn't expect it to have a significant impact on economic growth or inflation.
Finance Minister Chrystia Freeland's budget offsets new spending with higher taxes and stronger-than-expected government revenues, which has kept the deficit in check.
The Bank of Canada has been encouraged by progress made on getting inflation down and has signalled that it's inching closer to cutting interest rates.
This report by The Canadian Press was first published May 1, 2024
A new charter challenge set to get underway on Monday will test the constitutionality of a controversial Ontario law that allows hospitals to place discharged patients into long-term care homes not of their choosing or face a $400-per-day charge if they refuse.
A six-year-old boy from northeastern Manitoba who had been missing since last Wednesday has been found dead.
Former U.S. president Donald Trump said on Sunday that he doesn't 'think' he'd run again for president in 2028 if he falls short in his bid to return to the White House in 2024.
Israeli strikes killed some 100 Lebanese Monday in the deadliest and most intense barrage in nearly a year as the Israeli military warned residents in southern and eastern Lebanon to evacuate their homes ahead of a widening air campaign against Hezbollah.
Finally, an emoji to represent us all is coming soon: An exhausted face with bags under its eyes.
The prime minister's official itinerary says the interview will be shot during his trip to New York, where he is meeting with other world leaders ahead of the 78th gathering of the United Nations General Assembly.
Are you struggling to create a budget that fits your life and schedule? Personal finance contributor Christopher Liew shares some simple budgeting methods and offer some tips to help you create, and follow, a budget plan.
The Kremlin on Monday said it did not want to comment on a deadly shootout last week at the Moscow office of Russia's largest online retailer, Wildberries.
Authorities have reported no arrests after a weekend mass shooting killed four people and left 17 others injured in what police described as a targeted 'hit' by multiple shooters who opened fire outside a popular Alabama nightspot.
A six-year-old girl who was reported missing in northern B.C. last week has been found safe, police said Sunday evening.
The Royal Canadian Mint has introduced its latest Gold Maple Leaf bullion coin – made entirely from gold sourced from a single mine in northern Ontario
Ontario's police watchdog has decided there are no grounds to believe Sudbury police committed a crime during a difficult arrest in May where the suspect's neck was broken.
The City of Calgary ended water restrictions for the city at a Sunday morning update.
The brother of a 27-year-old man who was fatally shot in Scarborough over the weekend has been arrested and charged in connection with his death, say police.
A six-year-old boy from northeastern Manitoba who had been missing since last Wednesday has been found dead.
The 2024 U.S. presidential election continues to be the closest of the century. In fact, it is the closest race for the White House in the past 60 years.
Authorities have reported no arrests after a weekend mass shooting killed four people and left 17 others injured in what police described as a targeted 'hit' by multiple shooters who opened fire outside a popular Alabama nightspot.
An American woman who went missing while on a hike on Table Mountain in Cape Town, South Africa has died and her body has been recovered, authorities said on Monday.
Israeli strikes killed some 100 Lebanese Monday in the deadliest and most intense barrage in nearly a year as the Israeli military warned residents in southern and eastern Lebanon to evacuate their homes ahead of a widening air campaign against Hezbollah.
The Kremlin on Monday said it did not want to comment on a deadly shootout last week at the Moscow office of Russia's largest online retailer, Wildberries.
Nearly 30,000 suspected mpox cases have been reported in Africa so far this year, most of them in Democratic Republic of Congo where tests have run out, the World Health Organization said on Monday.
Justin Trudeau will turn his focus to the ongoing crises in Haiti as he speaks with some world leaders Monday ahead of the 78th meeting of the United Nations General Assembly.
Prime Minister Justin Trudeau told delegates at the United Nations the world is at a global inflection point, having a choice between walking away from multilateralism or setting differences aside to confront serious global challenges.
The prime minister's official itinerary says the interview will be shot during his trip to New York, where he is meeting with other world leaders ahead of the 78th gathering of the United Nations General Assembly.
A new charter challenge set to get underway on Monday will test the constitutionality of a controversial Ontario law that allows hospitals to place discharged patients into long-term care homes not of their choosing or face a $400-per-day charge if they refuse.
Nearly 30,000 suspected mpox cases have been reported in Africa so far this year, most of them in Democratic Republic of Congo where tests have run out, the World Health Organization said on Monday.
Body mass index, a long-time tool used to measure a person's health, may soon be out the door as some health professionals push for a system they say is more accurate.
A Russian space capsule undocked from the International Space Station on Monday to take three astronauts back to Earth, two of them completing a record-long stay on the orbiting laboratory.
If something looks too good to be true, it might be. That's the message from Saskatchewan horticulturists after customers have come into their stores hoping to buy purple apple trees this month.
The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy.
Tim Burton's legacy sequel to the 1988 horror comedy topped the North American box office charts for a third
Two reports released Monday provide a mixed but compelling outlook on the wave of book removals and challenges as the annual Banned Books Week begins for schools, stores and libraries nationwide.
Comedian John Mulaney and actor Olivia Munn now have a second child, a daughter named Mei June Mulaney.
Ian Rosen is at ease wandering all four floors of the flagship Harry Rosen store his late grandfather started and his father built upon, but it's the lower level where he's really at home.
The head of the Air Canada pilots union says she'll step down if members opt not to approve a tentative deal with the airline, raising the stakes as aviators mull whether to accept hefty salary gains or drive an even harder bargain.
Are you struggling to create a budget that fits your life and schedule? Personal finance contributor Christopher Liew shares some simple budgeting methods and offer some tips to help you create, and follow, a budget plan.
Finally, an emoji to represent us all is coming soon: An exhausted face with bags under its eyes.
Nick Kolomyja reckons axe throwing may have saved his life.
More than 2,200 zoo professionals from 23 different countries have gathered in Calgary for the annual Association of Zoos and Aquariums conference.
The Calgary Flames and Seattle Kraken both finished with 81 points last year in the Western Conference and missed the NHL playoffs by 17 points.
After Sunday's loss, the White Sox are 36-120 with six regular-season games to go in 2024.
The Winnipeg Blue Bombers have a nickname for the opposition’s end zone. They refer to it as the “chicken box.â€
Unifor says workers at General Motors' CAMI assembly plant and battery facility in southwestern Ontario have ratified a new collective agreement.
General Motors (GM) has issued a recall for 38,000 vehicles for safety risks related to a software glitch, Transport Canada reported in a notice on Wednesday.
Chechen leader Ramzan Kadyrov has accused Tesla CEO Elon Musk of 'remotely disabling' his Cybertruck, which had been sent to the frontline of Russia's war in Ukraine.
A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
A Nova Scotian YouTuber has launched a mini-truck bookmobile.
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.
An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.
A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.
Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.
The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.
A six-year-old girl who was reported missing in northern B.C. last week has been found safe, police said Sunday evening.
One man is dead and another injured after a shooting in Langley Saturday evening that homicide investigators say is gang-related.
Anyone needing emergency care in a city in B.C.’s southern Interior will need to seek help elsewhere until Monday, as the latest ER closure in the region has shuttered the department’s doors for 25 hours.
A new charter challenge set to get underway on Monday will test the constitutionality of a controversial Ontario law that allows hospitals to place discharged patients into long-term care homes not of their choosing or face a $400-per-day charge if they refuse.
Some wet weather is in the forecast this week for Toronto after an extended bout of dry conditions in the city.
Toronto police have released video footage of a suspect who allegedly stole a taxi in the city’s downtown core over the weekend.
Premier Danielle Smith on Monday is expected to make an address at the Future of Energy Summit in Banff, a meeting of energy industry leaders from around the world.
The City of Calgary ended water restrictions for the city at a Sunday morning update.
The Calgary Flames and Seattle Kraken both finished with 81 points last year in the Western Conference and missed the NHL playoffs by 17 points.
Ottawa Police are investigating a Sunday late night shooting which sent one person to hospital.
Israeli strikes killed some 100 Lebanese Monday in the deadliest and most intense barrage in nearly a year as the Israeli military warned residents in southern and eastern Lebanon to evacuate their homes ahead of a widening air campaign against Hezbollah.
Thousands participated in the 17th annual Canada Army Run Sunday in the capital's downtown.
Pasquale Monaco says he’s debating whether to keep renting out the two-bedroom basement apartment of the Montreal building he owns after it was flooded — again — in August, when the remnants of tropical storm Debby sent four feet of water rushing into the space.
Nearly 15,000 runners pounded the pavement on Sunday in the 32nd edition of Montreal’s Bereva Marathon.
Premier François Legault will meet with the Fédération des médecins spécialistes du Québec (FMSQ) president Dr. Vincent Oliva, on Monday morning in Montreal.
An Edmonton man says he was in the wrong place at the wrong time when he was injured by members of the Edmonton Police Service last year.
A serious crash on westbound Anthony Henday Drive closed Edmonton's ring road from Calgary Trail to 111 Street early Monday morning.
Edmonton Oilers head coach Kris Knoblauch was happy with his team’s start to exhibition play, especially considering not a single player in his lineup on Sunday played with the club during its lengthy recent playoff run.
The first full week of the New Brunswick election campaign is kicking off today with announcements about housing and affordability planned from the two opposition parties.
A fire at a barn in Lower Coverdale, N.B., early Sunday morning is under investigation.
A 76-year-old man who was reported missing Saturday in Annapolis District, N.S., has been found deceased.
A six-year-old boy from northeastern Manitoba who had been missing since last Wednesday has been found dead.
Winnipeg police called in the bomb unit Saturday night after a suspicious item was found in a Centennial neighbourhood back lane.
While slang may come and go, experts say the phenomenon behind them, which constantly churns out brand-new bon mots, is as old as language itself.
More than a year after the Government of Saskatchewan introduced the pronoun policy, the constitutionality of it continues to be questioned.
The Philippine Association of Saskatchewan welcomed all newcomers to Regina on Sunday during its third annual Kabayan event.
Fire officials are investigating after a fire completely destroyed the community fridge in the Cathedral neighbourhood.
Brantford, Ont. residents were met with an unexpected sight on Saturday evening as a suspected funnel cloud appeared in the skies above the city.
Police were called to a business in the area of University Avenue East and Weber Street North at around 10:40 p.m. Saturday for a report of a man attempting to stab another man.
Police said the pedestrian, a 52-year-old man, was taken to an out-of-region hospital with life-threatening injuries and the driver of the vehicle failed to remain at the scene.
More than a year after the Government of Saskatchewan introduced the pronoun policy, the constitutionality of it continues to be questioned.
A 14-year-old girl from Flying Dust First Nation was killed after a high-speed ATV struck a ditch near Meadow Lake.
The 75-year-old building, formerly the Waskesiu Chamber of Commerce building, was relocated to the Parks Canada compound on the edge of the townsite.
A 31-year-old woman, Tiffany Barrer of Greater Sudbury, has been identified as the victim in a five-vehicle crash near Port Dover, Ont.
Ontario’s police watchdog is investigating after an Ontario Provincial Police officer discharged his firearm at a 36-year-old man in near Moonbeam, Ont., on Friday night.
A 50-year-old man has been charged following a five-vehicle crash near Port Dover, Ont., that left a Greater Sudbury woman dead and sent two others to hospital.
Two people have been arrested following a suspicious death investigation in London. As previously reported, it was around 6 p.m. on Friday when first responders were called to Kathleen avenue for a "check welfare investigation."
The identity of a motorcyclist has been revealed by loved ones on social media following Friday’s fatal south end collision in London. The London Police Service has not released anything regarding the driver’s identity.
Wage increases, new paid holidays and a big signing bonus are part of the new contract for CAMI employees in Ingersoll, Ont.
Two people were arrested on alleged trafficking and gun-related charges.
One man is in police custody after fabricating a story to police and reporting his vehicle was stolen.
Fire crews worked to extinguish a fire at a tent encampment in Barrie on Sunday.
As the cleanup continues from the Wheatley explosion in 2021, the project team says it has found what it believes is a wooden-cased petroleum well.
As the City of Windsor celebrates the first east-end edition of its popular Open Streets event, officials say it likely won't be the last.
A new charter challenge set to get underway on Monday will test the constitutionality of a controversial Ontario law that allows hospitals to place discharged patients into long-term care homes not of their choosing or face a $400-per-day charge if they refuse.
Work crews have been busy in the British Columbia legislature over the summer, prying apart desks in the historic chamber and piling them up in hallways as they tried to work out how to fit in six more seats.
The two top contenders in British Columbia's provincial election dove deep into the various issues plaguing the Metro Vancouver area on Sunday, in some cases hearing directly from those most affected.
A Victoria woman is now $1 million richer after winning a Maxmillions prize on a recent Lotto Max Draw.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.
Despite the heavy rain, plenty of muscle turned up for United Way’s annual Pull the Bus fundraiser in Lethbridge Friday.
Lethbridge County has rescinded its fire restriction as a result of the recent cool, wet weathr.
The Lethbridge Hurricanes kicked off the 2024-25 season on a winning note Friday night, defeating the Edmonton Oil Kings 3-1 in a game played at VisitLethbridge.com Arena.
This week marks the first full week of winter and with that, a sad ending to being summer tourists. Officials with Indigenous Tourism Ontario however say it was a banner summer for operators in the province.
The Royal Canadian Mint has introduced its latest Gold Maple Leaf bullion coin – made entirely from gold sourced from a single mine in northern Ontario
A northern Ontario man is facing a $12,000 fine after illegally shooting a moose near the Batchawan River.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
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