9 To 5 Canada

Updated: October 28, 2026, 11:50 a.m. EDT (Toronto) The Bank of Canada raised its policy interest rate by a quarter of a percentage point to 2.5% on Wednesday, October 28, saying higher energy costs risk spreading more broadly through the economy. The Ottawa announcement marked its first rate increase since July 2023, Reuters reported . The central bank’s official decision also set the Bank Rate at 2.75% and the deposit rate at 2.45%. Its Governing Council said a stronger growth outlook and more persistent inflation warranted an increase to reduce the risk that elevated energy prices feed into other goods and services. The bank expects consumer-price inflation to rise to about 3.5% by the end of this year and remain around 3% through much of 2027, before returning close to its 2% target in mid-2028. It said businesses had largely absorbed higher input costs so far, but surveys pointed to more of those costs being passed on over the coming year. Its updated outlook projects Canadian ec...

Updated: 25 October 2026, 1:53 p.m. EDT Canada and the United Kingdom agreed on Sunday to develop two separate defence financing institutions that will work together, according to a joint statement released by the Department of Finance in Ottawa . The governments said they would draw up a cooperation framework for the Multilateral Defence Mechanism and the Defence, Security and Resilience Bank. Their decision sets out a partnership between distinct institutions as they work to strengthen defence financing and make spending more efficient. The same statement published by Britain’s Treasury says the institutions are intended to support each other on emerging industrial priorities, investment opportunities and strategic financing challenges. The stated goal is to strengthen the defence industrial base and improve collective readiness. For Canadian industry, the announcement outlines how the two financing initiatives are intended to cooperate. It does not announce individual project award...

Updated: 24 October 2026, 12:40 p.m. EDT (Toronto) Rogers will introduce a 1.6 per cent processing charge on credit-card bill payments from 17 January 2027, the company says. The change, reported on Friday, 23 October, applies to both automatic and one-time credit-card payments, with exemptions including customers in Quebec. In its customer notice , Rogers says the charge reflects fees it pays credit-card companies. Customers on selected specialised plans, including Connected for Success, and former Shaw Mobile customers on migrated plans are also exempt. Rogers lists several payment methods that will remain free of the new charge, including direct debit, online banking, cheques, Rogers gift cards, prepaid cards, Debit Mastercard and Visa Debit. For automatic credit-card payments, the charge will apply when the payment is processed and appear on the monthly bill. A Rogers spokesperson told Global News that the fee will also apply when customers use a Rogers Bank Mastercard. The co...

Updated: 21 October 2026, 3:51 p.m. EDT Prime Minister Mark Carney and Ontario Premier Doug Ford announced $8.7 billion in industrial investments in Ottawa on Wednesday, 21 October, alongside measures intended to help steel, automotive and critical-mineral businesses respond to U.S. tariffs. The official action plan includes a Joint Steel Action Fund with five-year commitments of $3.55 billion from Ottawa and $1.67 billion from Ontario. The governments say it will help steelmakers diversify production and reach new markets. An additional $2.5 billion over two years is earmarked for automotive capital projects, including machinery and production-line upgrades. The federal government will contribute $1.5 billion and Ontario $1 billion. For northern Ontario’s Ring of Fire, Ottawa will match the province’s initial investment of up to $1 billion over three years for essential road infrastructure. The plan also calls for coordinated permitting and a working group on engagement with First Na...

Updated: 20 October 2026, 1:51 p.m. EDT (Toronto) U.S. food importer Gellert Global Group filed a lawsuit in New York on Tuesday, 20 October, seeking to block President Donald Trump’s 50 per cent tariffs on a range of Canadian goods and recover duties already paid. The case, brought in the U.S. Court of International Trade, challenges the administration’s use of Section 338 of the Tariff Act of 1930. The Liberty Justice Center, which represents Gellert , announced the filing on Tuesday. CNBC independently reported the lawsuit and its request for refunds with interest. The New Jersey-based company imports Canadian cheeses covered by the duties. Its lawyers argue that the administration exceeded the authority Congress provided and imposed tariffs on products unrelated to the Canadian trade practices cited to justify them. Those are claims in the lawsuit, not findings by the court. The legal group says one Canadian supplier buys milk from upstate New York farmers, makes it into brie in C...