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Bank of Canada Holds the Line as Global Turmoil Clouds Outlook

  Bank of Canada Governor Tiff Macklem takes part in a press conference in Ottawa on September 17, 2025 The Bank of Canada has opted to keep its key interest rate steady at 2.25%, a decision that reflects the delicate balancing act policymakers face as global uncertainty intensifies. With inflationary pressures rising and economic growth showing signs of strain, the central bank is navigating a narrow path shaped by forces largely outside its control. A major driver of the current tension is the surge in oil prices triggered by ongoing geopolitical conflict. Higher energy costs are feeding into broader inflation, raising concerns that price pressures could become more persistent. At the same time, elevated borrowing costs and weakening consumer confidence are weighing on domestic economic momentum. By holding the rate, the Bank of Canada signals caution: it aims to avoid stifling growth while still keeping inflation expectations anchored. The central bank emphasized that it rema...
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Union Escalates Fight Against CRA Job Cuts with Nationwide Campaign

                    The Canada Revenue Agency (CRA) national headquarters in Ottawa on June 28, 2024.

The Union of Taxation Employees (UTE) has launched the second phase of its “Canada on Hold” campaign, intensifying opposition to widespread staffing cuts at the Canada Revenue Agency (CRA).

Initially focused on call centre layoffs, the campaign now highlights job losses across the agency, with union president Marc Brière warning that nearly 10,000 positions have been eliminated since May 2024. The UTE argues the cuts are undermining service to taxpayers and businesses, leading to longer wait times and reduced support.

The union plans a rally outside the Prime Minister’s Office on Friday, urging the federal government to reinvest in CRA staffing. The escalation comes after Finance Minister François‑Philippe Champagne gave the agency 100 days to address call centre delays, even as Ottawa pursues broader public service spending reductions.


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