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5 Things to Know Today: The Money News Shaping Your Week

5 Things to Know Today: The Money News Shaping Your Week 1. Canada’s Economy Grew Faster Than Expected Canada’s economy expanded at an annualized 2.6% in Q4, driven by stronger household spending, exports, and business investment. 2. Manitoba Fast‑Tracks Major Infrastructure Projects A new federal‑provincial agreement introduces a “one project, one review” system to accelerate ports, highways, and energy corridors. 3. Job Market Shows a Small but Positive Uptick Canada added 14,000 jobs in March, with wages rising 4.7% — a key factor ahead of the Bank of Canada’s April 29 rate decision. 4. Oil Markets Remain Volatile After Hormuz Reopening Iran has reopened the Strait of Hormuz, but analysts warn global oil markets may take time to stabilize. 5. Canadians Face Rising Affordability Pressures More Canadians are turning to budgeting tools as inflation, energy costs, and housing pressures persist.
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Trudeau's Cabinet Faces Major Shakeup as Housing Minister Sean Fraser Steps Down

 

In a significant development, Housing Minister Sean Fraser has announced his decision to step down from the federal cabinet and not seek re-election in his Nova Scotia riding. This move comes as Prime Minister Justin Trudeau prepares for a cabinet shuffle, which could happen as soon as Wednesday.

Fraser, who has been a prominent figure in Trudeau's cabinet, cited family reasons for his departure. The demands of his portfolio have made it challenging for him to spend time with his family in rural Nova Scotia. His exit adds to the list of ministers who have decided not to run in the next election, including Minister of National Revenue Marie-Claude Bibeau, Minister of Sport Carla Qualtrough, and Minister of Northern Affairs Dan Vandal.

Amid these changes, Trudeau's office is making a concerted effort to recruit former Bank of Canada governor Mark Carney to join the cabinet. Carney, who has been approached multiple times in the past, is reportedly more open to the idea now, although no final decision has been made.

Fraser's departure and the potential addition of Carney highlight the ongoing efforts by Trudeau to refresh his cabinet and address the pressing issues facing his government, particularly in the housing sector.



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