OTTAWA - The Bank of Canada held its benchmark interest rate at 2.25 per cent Wednesday as the economy performs below expectations but war in the Middle East threatens higher inflation. The central bank’s decision to hold its policy rate steady for a third consecutive time was widely expected but the future path for the policy rate is much less clear. War in the Middle East has sent global oil prices surging in recent weeks and those costs are already being felt at the gas pumps in [Read more]

OTTAWA - As war rages on in the Middle East, a new Leger poll suggests most Canadians believe the government of Canada should remain neutral, while one in four say Canada should support the United States and Israel in their attacks on Iran. The poll, which was conducted online and can't be assigned a margin of error, surveyed 1,608 Canadians between March 13 and March 16. Respondents were asked to indicate their level of agreement with several statements about what the Canadian [Read more]

EDMONTON - Alberta Premier Danielle Smith says her long-term goal is to be able to balance the province's books even with moderate oil prices. She says in about 10 years she'd like Alberta to bring spending in line with revenues that average US$60-per-barrel oil would bring to provincial coffers. Alberta's latest budget, tabled last month, projected a $9.4-billion deficit in the upcoming fiscal year based on the price of the benchmark West Texas Intermediate at US$60.50 per [Read more]

REGINA - Saskatchewan Premier Scott Moe says a deficit budget he's to unveil tomorrow aims to protect services, with more dollars going toward health care. Moe says health care spending will build from a recent plan that aims to add more nurse practitioners, lower wait times and expand virtual appointments. He says his government also won't make cuts to a revenue sharing program with municipalities. The premier has said the budget will be a deficit due to revenue problems caused by [Read more]

MONTREAL - Rising fuel prices caused by the war in Iran have begun to raise costs for Canadian shippers and ripple out to consumers, as fallout from the fighting filters into the broader economy. The price of heavy fuel oil — used to power container ships and other large vessels — at the world’s top 20 refuelling hubs has nearly doubled since the U.S. and Israel launched attacks in late February, according to figures from data platform Ship & Bunker. Container shipping rates have [Read more]

EDMONTON - Alberta may soon require oil and gas companies to be on top of their municipal property taxes if they want to keep producing. It's one of more than a dozen proposals contained in a new report released by the province and by the Rural Municipalities of Alberta. Unpaid municipal taxes by some in the energy industry is a long-standing issue, with Alberta's rural communities owed more than $250 million as of last year. Municipal Affairs Minister Dan Williams says that money will [Read more]

OTTAWA - The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week. Economists say the central bank faces choppy waters in setting monetary policy this year, as a surprise spike in unemployment and weakness elsewhere in the economy weigh against fresh inflation risks from a global oil price shock. The Bank of Canada's policy rate stands at 2.25 per [Read more]

BARDUFOSS - Canada and its allies are prepared to defend the Arctic, Prime Minister Mark Carney said Friday in Bardufoss, Norway, after observing NATO’s Cold Response exercises. He held a news conference alongside Norwegian Prime Minister Jonas Gahr Store and German Chancellor Friedrich Merz. Asked by a German reporter whether the "conflict" over the Trump administration's demands for Greenland is settled, the leaders emphasized Greenland's independence. "It's up to the people in [Read more]