News of the day: Macklem rolls the dice, losing faith in housing, credit rating help, Joly threatens steel lawsuit, small business exits and more

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Photo by Blair Gable/Postmedia filesIt’s Thursday, Oct. 22. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBank of Canada governor Tiff Macklem is worried that headline inflation has been around three per cent and that the longer this is sustained, the greater the risks. Canadian Real Estate Association said there were 450,000 annualized sales in the third quarter across the country; that’s barely more than half the annualized sales of 775,000 in the first quarter of 2021, at the market’s peak. Photo by Caspar Benson/Getty ImagesThis advertisement has not loaded yet, but your article continues below.The real estate industry seems to be bracing for the possibility that our relationship with homeownership may be on the rocks for good, writes Garry Marr.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again Credit bureaus treat a cancelled card’s remaining balance as a maxed-out account rather than a small increase in the share of available credit you are using. Photo by Peter Dazeley/Getty ImagesFP Answers: Closing an account to new purchases does not cancel the balance you owe but you can create a repayment plan. Mélanie Joly has given the steel company 15 days to remedy the situation or else she said her office may take legal action. Photo by HYUNGCHEOL PARK/PostmediaIndustry Minister Mélanie Joly has escalated her threats to take legal action against United States-based Cleveland Cliffs Inc., the parent company of Hamilton-based Stelco Holdings, which last month laid off hundreds of steelworkers. Thirteen per cent of small business owners expect to close their doors over the next decade. Photo by iStockphotoOver 60 per cent of small business owners plan to leave their business in the next decade, leaving over $2 trillion in business assets at risk, said the Canadian Federation of Independent Business Thursday.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.