AGP Executive Report
Last update: 4 minutes agoCanada-EU Ties: At their Montreal summit, Mark Carney and EU leaders pledged closer cooperation on trade, defence, AI and energy. The proposed “associate member” label was dropped from the summit declaration after objections, but talks on a deeper partnership will continue. Security: Ottawa unveiled its first national security strategy in more than 20 years, prioritizing sovereignty and supply chains. A new auditor general’s report warns that ammunition stockpiles have critical gaps and procurement delays are weakening Canada’s readiness for NATO commitments. Interest Rates: The Bank of Canada raised its key rate to 2.5%, the first increase since 2023, citing inflation pressures; higher borrowing costs could further strain households and housing markets. Trade: Carney said Canada is not ready to sign a deal with the U.S. as talks make limited progress. Canada and the UAE signed a trade pact aimed at doubling bilateral trade to C$7 billion a year. Wildfires: More than 5,400 fires burned 4.5 million hectares across Canada this year, forcing over 33,750 people from their homes.
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