INFLATION NATION — Canada could be in the 6ix by 8:30 a.m. Forecasters are predicting the pace of Canadian price growth will crack the 6-percent barrier this morning when the country gets its latest inflation figures. "With price pressures continuing to mount, the labor market at full employment, and the need to cool domestic demand as well as the housing market, the Bank [of Canada] will be staying firm on rate hikes," TD economist KSENIA BUSHMENEVA wrote in a report. "We anticipate another 50 basis point increase on June 1st, with the policy rate hitting 2 percent by year end." The issue is global. WAR'S DAMAGES — Looking at the world stage, the International Monetary Fund (IMF) said Tuesday that the global economic outlook has "worsened significantly" since January because of Russia's war on Ukraine and the resulting sanctions by the West. Price bumps in food and energy are heating up inflationary trends worldwide. Food and energy insecurity is central to today's meeting of global finance leaders in Washington. — Representing Ottawa: Deputy Prime Minister CHRYSTIA FREELAND is in D.C. after arriving Tuesday for a pre-G-20 bilat with Ukrainian Finance Minister SERHIY MARCHENKO. Freeland's visit is timed with today's meeting of G-20 finance ministers. Russian Finance Minister ANTON SILUANOV is expected to join virtually. TBA what the G-20 communique will look like at the end of it with some western nations expected to stage walk-outs to protest the war. — Bringing backup: International Development Minister HARJIT SAJJAN will arrive in D.C. today to join Freeland and take part in the IMF and World Bank's spring meetings. Freeland's office confirmed the DPM will meet with Ukraine PM DENYS SHMYHAL. The pair, as Freeland previously said, speak daily. MASK MANDATE FREE-FOR-ALL — Covid is airborne. The Covid pandemic isn't over. But despite these two facts, calls to end mask mandates picked up steam this week after a Florida judge tossed the Biden administration's masking rules for planes and trains. — This ain't over: The Biden administration announced it will appeal the federal court decision. Prime Minister JUSTIN TRUDEAU didn't signal Canada is in any rush to lift federal masking guidelines for planes and trains. The government will continue to evaluate and reevaluate policies based on science and Covid numbers. It's all about balance, he said. "People want to stay safe, but they also want to get back to the things they love," the PM said in Dalhousie, N.B. on Tuesday, his latest budget roadshow stop. If we all rush to return to pre-pandemic activities with pre-pandemic behaviors, the risk is falling into another Covid wave, he said. "Nobody's going to be very happy with each other on that one." The next challenge for the PM is explaining that to an anti-government motorcycle convoy heading to Ottawa at the end of the month.
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