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Canada Holds Steady: Interest Rate Pause Signals Cautious Confidence

                      The Bank of Canada also held its policy rate at its last scheduled rate announcement in December. The Bank of Canada has opted to keep its key interest rate at 2.25% , a move that underscores a careful balancing act as the country approaches a pivotal moment in North American trade relations. With CUSMA (the Canada‑United States‑Mexico Agreement) negotiations on the horizon, policymakers appear intent on maintaining stability while assessing potential economic turbulence. The decision reflects a mix of optimism and prudence. Inflation has been easing gradually, giving the central bank some breathing room. At the same time, global economic uncertainty and the high stakes of upcoming trade talks mean officials are reluctant to introduce new variables into the financial system. By holding the rate steady, the Bank of Canada signals confidence in the economy’s underlying resilience while acknowledgin...
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Federal Immigration Department Announces Major Job Cuts


Two federal public service unions have revealed that the Immigration Department is set to cut over 3,300 jobs over the next three years. The Public Service Alliance of Canada (PSAC) and the Canada Employment and Immigration Union issued a joint statement expressing concern over the lack of information regarding who will be affected by the cuts.

The unions emphasized that the department's staff are essential for processing citizenship and permanent residency applications, issuing passports, and conducting interviews. They urged the government to reduce outside contracting instead of downsizing staff.

The job cuts are part of the government's broader effort to refocus federal spending, which has been ongoing since 2023. The unions are calling for transparency and a reconsideration of the cuts, highlighting the potential impact on the department's ability to fulfill its duties.

Affected employees are expected to be notified in mid-February, with letters being sent out to those impacted. The unions continue to advocate for their members and push for alternative solutions to achieve budgetary goals.



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