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Canada and the U.S. will launch formal discussions to review their free trade agreement in mid-January, the office of Canadian Prime Minister Mark Carney said, the Associated Press reported. The prime minister confirmed to provincial leaders that Dominic LeBlanc, the country’s point person for U.S-Canada trade relations, “will meet with U.S. counterparts in mid-January to launch formal discussions," Carney’s office said in a statement late Thursday. The United States-Mexico-Canada trade pact, or USMCA, is up for review in 2026. U.S.
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Canada’s federal banking regulator says it is keeping its domestic stability buffer unchanged at 3.5 per cent as it judges major vulnerabilities in the banking system remain elevated but are stable, the Canadian Press reported. The buffer is the amount of money Canada’s big banks must keep on hand in case of economic shock. It applies to Canada’s six largest, or systemically important, banks.
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There were 3.3 unemployed persons for every job vacancy in October, Statistics Canada revealed Thursday, BNNBloomberg reported. The ratio, which the department calls unemployment-to-job vacancy, increased by 0.5 year-over-year. That’s due to a decrease in job vacancies (-64,800 or -12.2 per cent, excluding the territories) and an increase in unemployed people. October’s unemployment rate was 6.9 per cent. In October, job vacancies in Canada decreased by 19,100 (-3.9 per cent) to 467,000, offsetting the uptick in September when the country logged 11,000 additional openings.
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Despite a sharp rise in food prices, inflationary pressures in Canada appear contained, Bank of Canada Gov. Tiff Macklem said Tuesday, adding that policymakers remain focused on keeping inflation at or near 2% to preserve households’ purchasing power. In a year-end speech in Montreal, Macklem said he expects the upheaval in global trade, fueled by President Trump’s tariffs, and the restructuring of Canada’s economy to dominate again in 2026.
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Inflation held steady in Canada last month as consumers paid less at the pumps and saw rent rise less steeply, though food prices continue to put pressure on wallets, the Wall Street Journal reported. The country’s consumer-price index rose a modest 0.1% in November and was up 2.2% on a year earlier, Statistics Canada said Monday. That was slightly softer than the 2.3% annual rate economists expected.
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Canadian regulators are stepping up the fight against online fraud and scams by shutting down thousands of fake crypto platforms and websites that are believed to be orchestrating investment scams, InvestmentExecutive.com reported. In a joint release Thursday, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) reported that between June 5 and Nov. 23 they’ve taken down more than 3,900 fake platforms and scam websites that utilized upwards of 6,900 web addresses.
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