Inflation will chart Canada’s economic fate, Ottawa’s fiscal update shows – National | Globalnews.ca:

Canada is ready to weather the harsh winter winds cooling the global
economy, despite being set for “significantly weaker growth,” according
to the government’s fall economic statement on Thursday.

The update from Chrystia Freeland,
the Liberal finance minister and deputy prime minister, keeps the
government’s fiscal “powder dry,” reserving major spending items for the
next federal budget in the spring. But it contains a few targeted
measures such as boosts for low-wage workers and student loan interest
relief to support Canadians struggling with inflation and interest
rates.

        Read more: 
            <a href="https://globalnews.ca/news/9250616/fall-economic-statement-student-loan-relief-whats-new/" title="Student loan interest relief and more: What’s new in the fall economic statement?" target="_blank" rel="noopener">
            Student loan interest relief and more: What’s new in the fall economic statement?               </a>

It is that very risk of stubborn and prolonged inflation —
and the monetary tightening needed to stamp it out — that informs
Ottawa’s fiscal path.

Many of the government’s projections are
based on surveys of private-sector economists conducted in September
2022. The update makes clear that since that time, economic growth
prospects have worsened across the globe.

Freeland focused on
“uncertain times” in the global economy, driven by Russia’s invasion of
Ukraine and “aftershocks” from the COVID-19 pandemic in the update. She
pointed to these external factors as driving economies around the world
into decline and said Canada will not be immune.

“Canada cannot
avoid the global slowdown to come, any more than we could have prevented
COVID from reaching our shores once it had begun to infect the world,”
the document reads.