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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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Ontario Stands Firm on Residency Rule for International Medical Graduates

Ontario defends controversial residency rules for international medical graduates despite criticism.

Ontario is facing mounting criticism over its new residency eligibility rule for international medical graduates (IMGs), but the province has made it clear it will not back down.

The policy requires IMGs—doctors trained outside Canada who are permanent residents or citizens—to have completed at least two years of high school in Ontario to qualify for the first round of residency matches. Those who do not meet this requirement may still apply in the second round for unfilled positions.

The government argues the rule is designed to strengthen long-term workforce planning and ensure that physicians who train in Ontario are more likely to remain in the province. However, critics—including medical associations and advocacy groups—warn that the change could worsen the already severe shortage of family doctors, with more than two million Ontarians currently without one.

Internationally trained doctors have expressed frustration, calling the policy unfair and exclusionary, especially as many had already invested significant time and money preparing for the residency application process. The Ontario Medical Association has also voiced concern that the rule could deter skilled physicians from practicing in the province.

Despite the backlash, provincial officials maintain that prioritizing candidates with strong ties to Ontario will help build a more stable and locally connected healthcare workforce.


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