Start your day with FirstUp, the Star's morning news digest: Addressing safety on the TTC + an alleged pandemic benefits kickback scheme case widens
The central bank has increased the overnight lending rate by a quarter of a percentage point to 4.5 per cent, as markets had been expecting, Josh Rubin reports. While Bank of Canada governor Tiff Macklem said the bank will now put a pause on more hikes, he warned that more could be on the way if inflation doesn’t slow down.Macklem said it’s thanks to previous rate hikes that inflation dropped from the 8.1 per cent peak last June to 6.3 per cent in December.
The province’s civil case against an ex-bureaucrat — the former Ministry of Education information technology leader on the Support for Families program — accused in the alleged $11 million theft of COVID-19 relief funds has widened. The Crown now claims at least nine others are involved in a separate “conspiracy” awarding computer contracts that dates back more than a decade, Robert Benzie reports.
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