World Headlines: The rates keep climbing

First Up

By Manuela Vega

Good morning. Here’s the latest on violence on the TTC, interest rate hikes and an alleged pandemic benefits kickback scheme.

DON’T MISS

Steve Russell/The Star

safety

What can the city do about the recent rash of violence aboard the TTC?

There’s “no magic answer,” Mayor John Tory said, blaming recent attacks in the city on a broader mental health crisis and calling for a federal summit. The TTC is immediately moving to put more staff in stations, and over the long term, plans to hire more special constables and Streets to Homes outreach workers. A Toronto police spokesperson said officers are being encouraged to “engage with passengers and TTC operators” and provide a visible presence on transit. Ben Spurr, Lex Harvey and Victoria Gibson report on the recent violence seen on the TTC, and what we know about the causes.

What we know: TTC statistics show offences against customers and employees are on the rise. Riders are on edge.
What we don’t know: It’s unknown what role, if any, mental illness or homelessness has played in specific instances of violence, and some experts warn against making the link.
The latest: A 16-year-old boy was taken to hospital with serious injuries after a stabbing Wednesday on a bus.
Meanwhile: The suspect in the Tuesday stabbing of a 23-year-old woman on the Spadina streetcar has been charged with attempted murder.

Canadian Press/Sean Kilpatrick

economy

The Bank of Canada has raised its key interest rate an eighth time

The central bank has increased the overnight lending rate by a quarter of a percentage point to 4.5 per cent, as markets had been expecting, Josh Rubin reports. While Bank of Canada governor Tiff Macklem said the bank will now put a pause on more hikes, he warned that more could be on the way if inflation doesn’t slow down. Here’s what you need to know about the impact — and the politics — of the rate hikes.

By the numbers: Macklem said it’s thanks to previous rate hikes that inflation dropped from the 8.1 per cent peak last June to 6.3 per cent in December.
Point: Unemployment — at 5 per cent — is too low, Macklem said, adding that a tight labour market is causing wage increases, which he said could cause inflation.
Counterpoint: “Wages are the smallest percentage of GDP they’ve ever been, and corporate profits are the highest,” one economist said.
Another angle: The vice chair of the Federal Reserve says wage hikes aren’t driving inflation — so why is the Bank of Canada trying to suppress them?

Rene Johnston/The Star

star exclusive

Ontario claims $75M was stolen in “kickback schemes” run by an alleged ringleader of COVID fraud

The province’s civil case against an ex-bureaucrat — the former Ministry of Education information technology leader on the Support for Families program — accused in the alleged $11 million theft of COVID-19 relief funds has widened. The Crown now claims at least nine others are involved in a separate “conspiracy” awarding computer contracts that dates back more than a decade, Robert Benzie reports. Here’s what we know.

Context: In court filings, the government claims Sanjay Madan, spouse Shalini Madan, their adult sons Chinmaya and Ujjawal, and associate Vidhan Singh funnelled cash to thousands of bank accounts in 2020. As the separate criminal trial proceeds, the civil case is expanding against Sanjay and Singh.
More: The province’s lawyer has maintained Sanjay was the “ringleader” of a sophisticated kickback scheme. On Wednesday, Sanjay’s lawyer said his client denies any such conspiracy ever existed.

WHAT ELSE

Justin Trudeau won’t discuss his approval ratings — but some Liberals are wondering if his message needs to change.

Alberta Premier Danielle Smith is demanding the CBC retract what she called a “defamatory article” and apologize.

Investigators have found 66 more potential children’s graves at a former B.C. residential school.

Who would cyberbully someone about their husband’s suicide? This Canadian senator found out.

Is COVID-19 still a full-fledged global health emergency? The WHO will decide Friday.

The prime minister is set to meet with premiers on health care funding. “We’re not going to be signing deals.”

Everything in moderation? When it comes to alcohol, the word has been redefined.

Impersonators posing as homeowners are linked to 32 fraud cases in Ontario and B.C.

Instead of pining for spring, here’s how you can embrace the benefits of winter.

Easy vegetarian dishes, ultra-tender pork chops and more recipes to try this week.

ICYMI

Patricioj/Dreamstime/TNS

The burning truth behind gas stoves and how it’s fanning the flames of a culture war.

CLOSE-UP

Rick Madonik/The Star

ETOBICOKE: A pedestrian keeps a firm grip on an umbrella Wednesday. Take a closer look at the GTA as residents weathered the snowstorm.

Thank you for reading. You can reach me and the First Up team at firstup@thestar.ca. Ashley will see you back here tomorrow.

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