News of the day: Inflation rate spikes, Bank of Canada to hold rates, retirement phases, Churchill Falls deal, HST rebate drives home sales and more

It’s Monday, June 22. Here are the top stories we’re following today.

Canadian inflation rate spikes to 3.2% on surging gas prices

Canadian inflation accelerated to its highest level in more than two years in May, as rising gasoline and food prices helped pushed the rate to 3.2 per cent.

Bank of Canada to hold on rates as 33% gas inflation masks weak economy, say economists

Here’s what economists think the latest inflation numbers mean for the economy and interest rates.

There are three phases of retirement: ‘Go Go, Go Slow and No Go’

When it comes to managing wealth over many years, Martin Pelletier has come to realize that its true value extends well beyond money. Building a nest egg to support a desired lifestyle in retirement is a common and worthwhile goal but the problem is that the habits we rely on to get there often end up standing in the way of finally enjoying it.

Newfoundland may hold more power in Churchill Falls talks than many think

Some economists are beginning to question whether Newfoundland and Labrador has more leverage than conventional wisdom suggests as it reconsiders a memorandum of understanding signed with Quebec in late 2024 that was intended to govern Churchill Falls after the current contract expires in 2041.

HST rebate helps drive Toronto new home sales in May, report says

New sales of low-rise homes beat its 10-year average in May and the enhanced Harmonized Sales Tax rebate program might have something to do with it, at least according to the Building Industry and Land Development Association.