In the news today: StatCan to release January inflation figures today

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

StatCan to release January inflation figures today

Statistics Canada is expected to release its January consumer price index report this morning.

Economists polled by Reuters expect the annual inflation rate for January to tick up to 1.9 per cent, according to LSEG Data & Analytics.

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Inflation has moderated significantly from recent highs, stabilizing around the Bank of Canada’s two per cent target.

StatCan reported last month that Canada’s inflation rate fell to 1.8 per cent in December, thanks in large part to the federal government’s temporary two-month tax break.

Late last month, the Bank of Canada delivered its sixth straight interest rate cut, reducing its policy rate by a quarter-percentage point to three per cent.

Here’s what else we’re watching…

Winter blast grips eastern provinces, Prairies

Areas north and southwest of Toronto are bracing for more wintery conditions.

Environment Canada has issued an extreme cold warning for communities in the peninsula southwest of Toronto, with wind chills expected to be around minus 30.

North of the Ontario capital, a snow squall warning has been issued, with communities seeing anywhere from 15 to 70 centimetres of snow.

In Nova Scotia, Environment Canada has issued wind warnings, with much of the province expected to see westerly winds gusting around 90 kilometres an hour.

On the Prairies, extreme cold warnings have been issued for all of Saskatchewan, as well as much of Alberta and Manitoba.

Ontario votes: Leaders return to campaign trail

Ontario’s main party leaders are heading back out on the campaign trail today after squaring off in their second and final debate before election day.

Progressive Conservative Leader Doug Ford is set to stop in Sault Ste. Marie, Ont., this morning for an announcement, before heading to Sudbury, Ont.

NDP Leader Marit Stiles is scheduled to make a morning announcement in Toronto and then hold a rally in the city this evening.

Liberal Leader Bonnie Crombie is set to make an announcement this morning in Hamilton before heading back to her home turf of Mississauga.

Meanwhile, Green Party Leader Mike Schreiner is set to make stops in Toronto and Flesherton, Ont.

Throne speech kicks off B.C.’s legislative session

British Columbia’s legislative session opens today amid what Premier David Eby describes as a time of “extraordinary change and uncertainty.”

Lt.-Gov. Wendy Cocchia is scheduled to deliver the speech from the throne this afternoon, laying out the B.C. government’s plan as looming U.S. tariffs threaten the Canadian economy.

Eby says in a statement that the speech will lay out the government’s plan to defend British Columbians in these uncertain times and secure a brighter future for residents.

Colin Hansen, a former finance minister in the BC Liberal government and a member of the legislature from 1996 to 2013, says now should be a time for politicians to “park” partisanship.

Hansen says that the magnitude of U.S. President Donald Trump’s administration on B.C. means that members of the legislature need to put aside their differences and work together.

N.S. to present budget amid looming trade war

Nova Scotia’s Progressive Conservative government is presenting its post-election budget today amid economic uncertainty created by tariff threats from United States President Donald Trump.

The budget for the 2025-26 fiscal year comes after Premier Tim Houston’s party won an expanded majority on Nov. 26, campaigning on promises to cut taxes and limit electricity rate hikes.

But that was before Trump threatened to impose 25 per cent tariffs on Canadian goods in March — a move that will likely lead to Canadian retaliatory tariffs — and the budget is being watched to see how the province will respond.

Nearly 70 per cent of Nova Scotia’s exports from January to September 2024 went to the United States, leaving the province’s economy vulnerable to a trade war.

The premier’s message has shifted recently to calling for a “resource-focused” economy, with the Tories pledging to work harder to develop hydrogen, offshore wind, and critical minerals.

This report by The Canadian Press was first published Feb. 18, 2025.

The Canadian Press