by 0.75 per cent, adding that more increases are expected as it tries to push back against ballooning inflation.
Meanwhile in Vancouver, Prime Minister Justin Trudeau and his cabinet are holding a retreat that is putting a major focus on affordability and helping Canadians bear the brunt of inflationary pressures.Sign up for our newsletter to get breaking news and daily digests sent to your email.Last week Trudeau said Canada’s economy has recovered quickly from the COVID-19 shutdowns and unemployment is at a record low — 4.9 per cent in both June and July — but there is more help to come.
Inflation has also been one of the key talking points for Pierre Poilievre, the Ottawa-area MP who is widely expected to run away with the Conservative leadership this coming weekend.