The Bank of Canada plans to end quantitative tightening in the first half of this year and resume asset purchases after taking extraordinary measures during the pandemic. Deputy governor Toni Gravelle outlined the bank’s goal of reaching reserves of $50 to $70 billion by the third quarter, with plans to rebuild assets through repurchase agreements, treasury bills in 2025, and federal bonds in 2026. Gravelle emphasized that asset purchases will not be used for active economic stimulation like during the pandemic, signaling a return to “business as usual” for the central bank.
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Canadian Border Services seize 187 kg of cocaine at Ontario crossing
The Canada Border Services Agency (CBSA) seized 187 kg of suspected cocaine, valued at $23.3 million, on June 12, 2025, at the Blue Water Bridge in Point Edward, Ontario. A commercial truck from the U.S. was inspected, leading to the arrest of Karamveer Singh, 27, who faces charges related to cocaine importation and trafficking; this marks the fourth significant cocaine seizure at the bridge this year. Explain It To Me Like I'm 5: On June...
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