From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
Icy Assault Looms Over the GTA: Toronto Awaits a Storm of Freezing Rain
A pronounced winter threat challenges southern Ontario this Saturday as freezing rain continues to blanket the region. Early morning reports confirm that communities surrounding Toronto—including Vaughan, Richmond Hill, Markham, Newmarket, and others—are already feeling the impact, with even heavier accumulations expected in higher terrain as the storm advances .
Toronto, along with neighboring cities like Mississauga and Brampton, is bracing for a surge in freezing rain expected to kick in by Saturday night. Environment Canada warns that ice buildup of 3 to 5 millimetres in the urban core could lead to slippery roadways, broken tree branches, and power outages, while some areas in Durham Region might see accumulations up to 10 millimetres. With the storm projected to persist into Sunday morning before gradually shifting to rain as temperatures near the freezing mark, officials urge citizens to exercise extra caution on the roads .
Authorities are advising residents to postpone non-essential travel and closely monitor local weather updates. As the freezing conditions threaten infrastructure—risking both treacherous driving conditions and utility disruptions—the public is encouraged to prepare emergency supplies and stay aware of rapidly changing conditions .
This severe late-winter storm is a vivid reminder of nature’s unpredictable force. Whether it’s safeguarding vehicles with winter tires or ensuring that emergency kits are within easy reach, every precaution counts. As southern Ontario rallies in the face of this icy onslaught, communities remain united in their determination to weather the storm and protect one another .
Beyond the immediate concerns, many might wonder how best to prepare for similar events in the future, or even what historical weather patterns suggest about the resilience of the region during such icy bouts. Exploring preparedness strategies—ranging from safe driving tips on ice-covered roads to effective home power backup solutions—can provide valuable insights in mitigating risks during severe winter weather.
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