Carney announces Arctic sovereignty initiatives in Iqaluit

Today, Prime Minister Mark Carney is in Iqaluit, Nunavut, to reaffirm Canada's sovereignty in the Arctic. He will make an announcement focused on improving security in the region, along with Defence Minister Bill Blair and Chief of Defence Staff General Jennie Carignan. Carney plans to meet with Nunavut Premier P.J. Akeeagok and members of the Canadian Rangers during this visit. In economic news, Statistics Canada will release February's inflation data today. Economists believe inflation might rise due to the end of a temporary tax break on household goods. The annual inflation rate is predicted to increase to 2.2% in February, up from 1.9% in January. New Brunswick’s Liberal party will present its first budget today after winning the October election. Premier Susan Holt stated that balancing the budget is challenging due to a trade war with the United States. New Brunswick exports about $12 billion annually to Maine, and tariff threats could harm the province's economy. In Manitoba, voters in east Winnipeg's Transcona area are heading to the polls for a byelection. This election follows the passing of NDP MLA Nello Altomare. The NDP has historically dominated this region, and they currently hold a majority in the legislature. Additionally, a Quebec MP will join a U.S. senator at the Canada-U.S. border for discussions about the ongoing trade war. Senator Peter Welch will lead a roundtable with local businesses from Quebec and Vermont to address the effects of tariffs imposed by the U.S. last week. Lastly, a report from Farm Credit Canada shows that Canadian farmland values increased by 9.3% last year, marking over 30 years of growth. However, the growth rate has slowed recently due to falling commodity prices and reduced revenues for farmers.