From the Bank of Canada's steady hand to a surge in housing starts and Ottawa's new financial crime-fighting agency — here are the five money stories every Canadian should have on their radar this morning. 1 Bank of Canada Rate Holds at 2.25% — Next Decision June 10 The Bank of Canada kept its overnight rate at 2.25% on April 29 and has signalled it intends to stay put for now. Governing Council is keeping a close eye on Middle East conflict spillover into energy prices, ongoing U.S. tariff uncertainty, and whether inflation — currently hovering just above the 2% target — becomes entrenched. Bond markets are currently pricing in roughly an 18% chance of a 25-basis-point cut by the July 15 announcement, making a move at the June 10 meeting unlikely. 💡 What it means for you: Variable-rate mortgage and HELOC holders can exhale — no surprise hikes on the horizon. But don't expect big rate relief either; the "lower-for-longer" window appears to be closing. 2 Mortgage...
"Ontario Braces for Massive Snow Squalls: Up to a Metre of Snow Expected"
Ontario is currently experiencing intense snow squalls, with some areas expected to receive up to a metre of snow by the end of the weekend. The multi-day lake-effect snow event began late Thursday and is predicted to continue through Sunday.
Meteorologists have issued snow squall warnings for several regions, including Cottage Country from Kincardine to Dundalk, Parry Sound to Barrie, and Sault Ste. Marie. The coldest air of the season is stirring up the lake-effect snow machine, leading to peak snowfall rates of 5-10 centimetres per hour.
Travel is expected to be hazardous due to sudden changes in weather, near-zero visibility, and possible road closures. Drivers are urged to plan ahead and be prepared for deteriorating conditions.
While the snowfall is great news for Ontario's ski resorts, it poses significant challenges for commuters and residents in affected areas.
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