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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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Anglo-Teck Merger Approved: Promise and Peril for Canada’s Mining Sector

 

Federal Industry Minister Mélanie Joly has approved a merger between Teck Resources Ltd. and Anglo American PLC. 


Canada’s federal government has officially approved the $53 billion merger between Teck Resources Ltd. and Anglo American PLC, creating one of the world’s largest copper producers. Industry Minister Mélanie Joly hailed the deal as a “significant win” for Canada, emphasizing legally binding commitments that include relocating the new company’s headquarters to Vancouver and investing at least C$4.5 billion over five years, rising to C$10 billion over 15 years.

The newly formed entity, Anglo-Teck, is expected to become a global heavyweight in copper production, a critical mineral for electrification and clean energy technologies. Shareholders from both companies overwhelmingly supported the merger, which was fast-tracked under the Investment Canada Act, signaling Ottawa’s shift toward a more pro-business stance in the mining sector.

Yet, despite Joly’s optimism, concerns linger. Analysts warn that Canada’s mining future could be increasingly shaped by foreign ownership, raising questions about sovereignty over critical minerals. While the headquarters move to Vancouver is seen as a symbolic victory, the company’s primary listing will remain in London, underscoring the delicate balance between domestic control and global capital.

Critics also point to the rapid approval process, completed in just three months, as evidence of Ottawa prioritizing investment attraction over thorough scrutiny. This has sparked debate about whether Canada is lowering its guard in the face of mounting U.S. tariffs and global competition for resources.

For now, Anglo-Teck represents both an opportunity and a risk: a chance to anchor Canada as a hub for critical minerals, but also a reminder of the challenges in safeguarding long-term national interests in a sector vital to the country’s economic and environmental future.


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