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Jeneroux’s Defection Pushes Carney Closer to Majority

                                                      MP Matt Jeneroux Prime Minister Mark Carney’s Liberal government has moved one seat nearer to a majority after Edmonton MP Matt Jeneroux crossed the floor from the Conservatives to join the governing caucus. Jeneroux, who had previously announced plans to resign, instead opted to align himself with Carney’s agenda, becoming the latest in a string of Conservative MPs to defect. Carney welcomed Jeneroux publicly, highlighting his experience and announcing that the Alberta MP will serve as a special adviser on economic and security partnerships. The move spares the government a byelection in Edmonton and adds further momentum to the Liberals’ recent gains, which have included multiple high‑profile floor crossings.  Jeneroux’s decision underscores shifting political dynami...
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Bank of Canada Diverges from Fed, Signals No Rate Cuts Soon

 

The Bank of Canada has made it clear that interest rates will not be coming down anytime soon, putting it on a divergent path from the U.S. Federal Reserve, which said this week that easing could be on the timetable. 

Inflation slowed to 3.1% in October, down from a peak of more than 8% last year, but it has remained above the bank’s 2% target for 31 months. Governor Tiff Macklem said that the bank has not started discussing rate cuts yet, as it’s too early to have that discussion.

The bank is still discussing whether it has raised interest rates enough and how long they need to stay where they are.


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