UK Chancellor Healy said the government will tighten VAT rules for online trading platforms.

Rates.ca analyst Victor Tran said the BOC's policy-rate increase will immediately put upward pressure on variable-rate mortgages, pushing their rates closer to fixed rates. Fixed-rate mortgages have risen about 100bp since early September with no sign of reversing. As the central bank begins a tightening cycle, variable rates are likely to climb sharply in the coming months; mortgage-rate pressure on homeowners is expected to persist for 12–18 months.

Canada's Competition Bureau said the proposed transaction between Air Canada and United Airlines could harm competition on 10 routes between the two countries.