Ontario to Sell More Debt Abroad as Deficit, Spending Grow
Ontario plans to borrow C$59.8 billion ($42.7 billion) to fund a larger budget deficit and spending on highways and other infrastructure, and expects more of it will come from foreign currency bond sales.
Long-term borrowing needs for Canada's most populous province are seen at C$42.8 billion for the fiscal year ending March 31, 2026. As much as 30% may come from foreign markets, according budget documents released Thursday by Finance Minister Peter Bethlenfalvy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
30 minutes ago
- Bloomberg
CDPQ Looks to Trim US Assets as CEO Worries About Stagflation
The head of Caisse de Dépôt et Placement du Québec said it's time for the fund to scale back on US investments after years of growth and great returns. 'It's been 10 years of US exceptionalism,' Chief Executive Officer Charles Emond said. 'Obviously, you got to a point where we reached sort of a higher percentage than usual. We're at 40% of our total fund in the US. I'd say that's kind of the peak, like to trim a bit.'
Bloomberg
41 minutes ago
- Bloomberg
Dollar Extends Its Slide as US Tariff Concerns Pick Up Again
The dollar extended its decline versus major peers as worries over US tariffs increased after President Donald Trump said he would notify trading partners soon of unilateral levy rates. Bloomberg's gauge of the dollar slid as much as 0.3% on Thursday to touch its lowest level since July 2023 following the news, with the safe-haven yen and Swiss franc leading the advance against the greenback. The dollar was already under pressure from a weaker-than-expected US inflation print, which helped spur traders to fully price in two quarter-point Federal Reserve interest rate cuts this year.
Hamilton Spectator
an hour ago
- Hamilton Spectator
NDP leader says Carney needs to keep Parliament in the loop on trade talks
OTTAWA - Interim NDP Leader Don Davies is accusing Prime Minister Mark Carney of not being transparent about negotiations with the U.S. on getting President Donald Trump's tariffs lifted. Davies said Wednesday that Parliament has not been kept in the loop on what Carney and Trump are talking about behind closed doors, or whether Ottawa has involved stakeholders in negotiations with the U.S. 'Previous Liberal governments have made quite a deal out of appointing different stakeholders from society to be present in advising them. Yet we don't know anything about that in these negotiations,' Davies told reporters outside the House of Commons just ahead of question period. 'It's time that Carney government became more transparent with Canadians, let us know who's negotiating, and definitely explain to Canadians why he's pursuing deeper military and economic integration with the United States when he promised Canadians that he would do exactly the opposite.' Carney declared during the recent federal election that Canada's old relationship with the United States, based on deepening economic integration and military cooperation, had come to an end and he vowed to stand up to Trump in the face of steep U.S. tariffs. CBC/Radio-Canada reported earlier Wednesday that the U.S. and Canada are hashing out a 'working document' that outlines details of a potential trade deal and states that Canada will participate in Trump's Golden Dome missile defence project. The prime minister's office is neither confirming nor denying that report. Asked by reporters about talks on the U.S. tariffs, Finance Minister François-Philippe Champagne said the government's 'endgame' is to have all of Trump's tariffs removed, but he referred journalists to Carney and Intergovernmental Affairs Minister Dominic LeBlanc for the most up-to-date information. 'It's a very dynamic situation,' Champagne said. 'We've been engaging with our friends in the United States. You know, we talk to different people in the administration.' But Carney and Foreign Affairs Minister Anita Anand breezed past reporters who shouted questions at them on Wednesday, while LeBlanc was not seen in Parliament. Ontario Premier Doug Ford publicly confirmed the secret, top-level discussions last week, saying that Carney and Trump are in 'deep discussions' on trade and working 'around the clock to get a deal.' 'They're right at the brink,' Ford said in Toronto on June 5. Pete Hoekstra, Trump's ambassador to Canada, said in an armchair talk at the Canadian Club of Ottawa on Wednesday that he thinks there's a 'possibility to have a great deal.' He said that 'all indications' are that the two countries could reach a 'very positive agreement,' but couched that 'there's also the possibility you could end up with something like no deal or whatever.' 'Until a deal is announced, you really won't know what's it in it,' Hoekstra said. Trump has insisted that Canada could join his unbuilt Golden Dome continental missile defence program at a cost of $61 billion. Carney confirmed last month that he is in talks with Trump about the project. 'It's something that we are looking at and something that has been discussed at a high level,' Carney said at a press conference in Ottawa on May 21. This report by The Canadian Press was first published June 11, 2025.
