Skip to main content

Featured

Monday’s CPI Could Decide Your Next Mortgage Payment

  Canada lost 68,000 jobs in September. Inflation is sitting at 3%. The Bank of Canada has to decide on October 28 which of those facts matters more, and on Monday morning one more number lands to help it choose. If you carry a variable-rate mortgage, a HELOC or a renewal this winter, that number has a price tag. Two reports pulling in opposite directions The jobs data came first. Statistics Canada reported on October 9 that employment fell by 68,000 in September, pushing the unemployment rate to 6.5% from 6.4%. It followed a drop of about 42,000 in August, which means more than half of the 181,000 jobs gained between April and July have now been wiped out. Ontario shed 20,000 positions on its own. Markets reacted within hours: the odds of a quarter-point Bank of Canada hike on October 28 dropped to roughly 25% from about 40%, according to LSEG data reported by Reuters. Inflation is telling the opposite story. The consumer price index rose 3.0% year over year in August, matching Ju...
Post a Comment
Read more

article

Labels

Ontario Government Assumes Control of Four School Boards Amid Budget Troubles

 

The Ontario government has stepped in to take control of four publicly funded school boards, citing persistent financial mismanagement and rising concerns over budget deficits. The Ministry of Education announced the move Friday, stating that external supervisors will temporarily oversee operations to stabilize governance and restore fiscal responsibility.

Education Minister Rachel Thompson emphasized that the intervention was necessary to protect student services and ensure that taxpayer dollars are used effectively. “We are committed to providing every student with access to quality education in a financially sustainable way,” she said.

The boards involved—three English-language and one French-language—have reportedly struggled with budget planning, overspending, and long-term financial forecasting. The province did not disclose the names of the boards but confirmed they operate in both urban and rural regions.

Education advocacy groups have expressed mixed reactions. Some praise the province’s willingness to intervene, while others worry about transparency and the impact on local governance.

The government has stated that the takeovers are temporary and that normal governance will resume once the boards demonstrate improved financial accountability.


Labels:

Comments

Post a Comment