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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...
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Canadians Dread Another Election as Budget Showdown Looms in Ottawa

 

Minister of Finance and National Revenue Francois-Philippe Champagne listens to a reporter's question ahead of a cabinet meeting on Parliament Hill in Ottawa, on Tuesday, Oct. 21, 2025.


As tensions rise on Parliament Hill, Liberal MPs are emphatically rejecting the idea of a snap federal election, insisting that Canadians have no appetite for another trip to the polls. The warning comes amid a high-stakes standoff over the upcoming federal budget, which the minority Liberal government is struggling to secure support for.

Government House Leader Steven MacKinnon acknowledged that the Liberals currently lack the votes needed to pass the budget, scheduled for tabling on November 4. He accused opposition parties of making "unserious" demands and playing political games, raising the specter of a holiday-season election if the budget fails to pas.

Opposition leaders, however, are pushing back. Conservative House Leader Andrew Scheer argued that the Liberals are deliberately crafting a budget they know won’t gain support, suggesting the government is trying to engineer its own defeat to trigger an election. He called for a more “affordable” budget that reflects the economic pressures facing Canadians.

Finance Minister François-Philippe Champagne’s budget is expected to include significant investments in housing, the military, and support for workers affected by the U.S. trade war. However, it may also feature cuts to other spending areas, making it a tough sell across party lines.

With the Liberals holding a minority, they need at least one opposition party—either the NDP, Bloc Québécois, or Conservatives—to back the budget. So far, no party has committed to doing so, leaving the government in a precarious position.

As the political brinkmanship continues, many MPs are echoing the sentiment of their constituents: “God no,” said one Liberal MP when asked about the prospect of another election. Canadians, it seems, are weary of political instability and would prefer their leaders focus on governing rather than campaigning.


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