In the news today: Interest rate cut possible this week: Economists

Interest rate cut possible this week: Economists

The inflation reading was less than the 2.8 per cent that markets had been expecting and has helped to build market confidence that the Bank of Canada may be poised for a second rate cut, on top of the 25-basis-point cut it announced last month. While inflation remains higher than the Bank of Canada's two per cent target, Mendes said he believes delaying any longer could have negative repercussions.Workers are back on the job today at Ontario's main liquor retailer, but the Liquor Control Board of Ontario says stores won't be open for business until Tuesday.

But the LCBO issued a statement on Saturday saying reopening plans were back underway, and a return-to-work protocol signed by both parties does not include any"new monetary items."In the year since so-called strong mayor powers were granted to the heads of council in a swath of Ontario municipalities, most mayors have used them sparingly — if at all — though in some corners a sense of unease with the sweeping authority remains.

Many of them are in the province's largest cities, and the chair of the Ontario Big City Mayors group said by and large the mayors have"exercised enormous restraint and responsibility" in exercising the powers.The mother of a boy who died a year ago in a Nova Scotia flood says her grief returns daily, along with frustration over what she considers the province's slow pace in reforming its preparations for climate disasters.

The tragedy has drawn repeated calls for the Progressive Conservative government to improve the province's emergency alert system, as severe weather events are hitting the province with disturbing regularity.

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