Prime Minister Justin Trudeau travels to Poland to commemorate the 80th anniversary of Auschwitz liberation. Economists predict the Bank of Canada will lower its key interest rate, while a judge is set to rule on the case of a former Calgary councillor accused of fraud.
Prime Minister Justin Trudeau is in Krakow, Poland, where leaders from around the world are gathering to commemorate the 80th anniversary of the liberation of Auschwitz-Birkenau. The notorious Nazi extermination camp is where historians estimate more than one million people, mostly Jews, were killed during the Second World War. More than six million Jews were killed during the Holocaust.
Before the ceremony, Trudeau is set to meet with Canadian Auschwitz survivors who also made the journey to Poland. This may be Trudeau's last major international trip as prime minister before the next Liberal party leader is chosen on March 9. \Meanwhile, economists expect the Bank of Canada to cut its key policy rate by a quarter of a percentage point on Wednesday. This would bring the rate down to three per cent, marking a slowdown from the central bank's two previous supersized cuts. The quarter-point cut would be in light of recent inflation and jobs data. Canada’s annual inflation rate fell to 1.8 per cent in December, largely on the back of the federal government’s temporary GST tax break. Statistics Canada said last week that restaurant food purchases and alcohol bought from stores contributed the most to the deceleration in the overall inflation reading. Ottawa introduced a temporary pause on taxes to those items in mid-December, along with other items including children’s clothing and some toys. Without the tax break, the agency said the annual inflation rate would have risen to 2.3 per cent. \In Calgary, a judge is expected to hand down his verdict today on whether a former city councillor is guilty of fraud and breach of trust. Joe Magliocca is accused of lying on travel expense claims between October 2017 and December 2019. He named politicians from across the country, including a Quebec cabinet minister, Ontario’s NDP leader and the mayor of Halifax, but they testified they had never met the councillor. Concerns over Magliocca's spending were raised after an investigation found he had spent double what other Calgary councillors had at the 2019 Federation of Canadian Municipalities conference in Quebec City. Magliocca, the former councillor for Ward 2 in the city's northwest, was charged with fraud and breach of trust just days before the 2021 municipal election, in which he lost his seat.
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