The Canadian Press

Ontario's main political parties are charting new courses forward today, with one heading into a second term with an even stronger mandate than before and two others searching for new leaders.

The deputy governor of the Bank of Canada says it may need to raise its key interest rate to three per cent or beyond to ensure inflation does not become entrenched.

The deputy governor of the Bank of Canada says it may need to raise its key interest rate to three per cent or beyond to ensure inflation does not become entrenched.

In an unprecedented move, the Bank of Canada has announced a major increase to its key interest rate for the second time in two months as it forecasts higher consumer prices to come this year.

Statistics Canada said Tuesday real gross domestic product grew at an annualized rate of 3.1 per cent in the first quarter, helped by business investment and household spending.

"Canadian inflation is running more than three times faster than target,'' Desjardins' head of macro strategy, Royce Mendes, wrote in a note to clients Monday.

"We need Canadians to be able to seize these opportunities and to have the tools, training and resources they need to thrive," Employment Minister Carla Qualtrough said.

The Canada Border Services Agency (CBSA) says 295,133 Nexus applications have yet to be processed due to ongoing office closures prompted by COVID-19.

The Smiths Falls-based cannabis company says it had a net loss of $578.6 million for the quarter ended March 31 compared with a net loss of $616.7 million a year earlier.

Smaller internet service providers are cautiously optimistic about the new telecom policy directives unveiled by the federal government that are aimed at the Canadian Radio-television and Telecommunications Commission.