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Politics Week: BOC Meeting May Return Focus To Cost of Living Pains

  • Bank of Canada is expected to hold its key lending rate at the highest since 2001 at 5% on Wed with inflation still near 4%. Governor Macklem's press conference may deliver politically uncomfortable message the economy may be tipping towards recession and he's not yet prepared to discuss any rate cuts.
  • Foreign policy still major concern, with PM Trudeau on Friday saying India's push to remove 40 diplomats violates international law. Earlier Trudeau said India's government may have been involved in the murder of a Canadian Sikh activist earlier this in in British Columbia.
  • Canada's response to Israel-Gaza conflict also looms large; different Liberal MPs have shown tensions within the party around the issue. Trudeau says Israel has the right to defend itself but international humanitarian rules must guide its response.
  • Finance Minister Freeland says fall fiscal update is coming and she met with private sector economists on Friday.
  • New Democrats propping minority Liberal govt have increased criticism of Trudeau's housing plan but given no indication of a non-confidence vote.
  • Polling aggregator 338Canada shows Conservatives likely to win a majority government if an election were held now. Election is due in 2025 under a traditional four-year mandate.
  • Sample headlines: The Liberals win points on housing policy, but it might not change the politics (Globe and Mail); Majority — including two-in-five past Liberal voters — say Trudeau should step down (National NewsWatch)
MNI Ottawa Bureau | +1 613-314-9647 |
MNI Ottawa Bureau | +1 613-314-9647 |

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