Deputy Prime Minister and Finance Minister chrystia freeland is hosting an in-person meeting with provincial and territorial finance ministers in Toronto on Friday.
The meeting comes at a stressful time for many Canadian consumers inflation Still running hot and interest rates are much higher than they were a year ago.
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bank of canada It raised its key rate again last week, bringing it to 4.5 percent, but signaled it was taking a pause to cushion the impact of its aggressive hiking cycle.
The economy is showing signs of slowing, but inflation is still high at 6.3 percent in December, especially as food prices rose year-on-year.
Interest rates have hurt the housing market, with prices and sales falling for months, despite rents set to rise in 2022.
Meanwhile, the labor market remains strong, with the unemployment rate hitting a record low of five percent in December.
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