Toronto Morning Briefing: Top 5 Stories for February 17, 2026

Good morning, Toronto. Here are the top five stories you need to know this Tuesday, February 17, 2026.

1. Inflation Falls to 2.3% in January

Canada’s inflation rate dropped to 2.3 percent in January, marking a continued decline in consumer price increases and moving closer to the Bank of Canada’s two-percent target.

Statistics Canada released the Consumer Price Index data this morning, showing the year-over-year inflation rate decreased from 2.6 percent in December. The decline was driven primarily by lower gasoline prices and moderating food costs.

Grocery prices rose 1.8 percent compared to January 2025, a significant slowdown from the double-digit increases seen in previous years. Fresh vegetables and bakery products showed the most notable price stabilization.

Gasoline prices fell 3.2 percent year-over-year, though prices at the pump remain volatile on a month-to-month basis. Energy costs overall contributed to pulling down the headline inflation figure.

Shelter costs, which include rent and mortgage interest, continued to rise at 4.1 percent annually. This remains the fastest-growing component of the inflation basket and a persistent concern for Toronto-area households facing housing affordability challenges.

The Bank of Canada has held its benchmark interest rate steady at 3.75 percent since its last meeting. Economists are divided on whether today’s data will prompt a rate cut at the next policy announcement in March. Financial markets are pricing in a 60 percent probability of a quarter-point reduction.

Core inflation measures, which strip out volatile items, averaged 2.5 percent across the three metrics tracked by the central bank.

2. Ontario Ends Post-Secondary Tuition Freeze

The Ontario government announced Monday it will lift the tuition freeze for colleges and universities, allowing institutions to increase domestic student fees for the first time since 2019.

Post-secondary institutions will be permitted to raise tuition by up to three percent annually starting in the 2026-2027 academic year, which begins in September. The decision ends a seven-year period during which tuition was frozen and then reduced by 10 percent in 2019.

Minister of Colleges and Universities Jill Dunlop said the change will provide institutions with financial flexibility while remaining “one of the most affordable tuition frameworks in Canada.” Ontario tuition rates are currently below the national average for most programs.

The University of Toronto, Toronto Metropolitan University, and York University have indicated they will implement the maximum allowable increase to address budget pressures. International student fees, which are not regulated, will continue to be set by individual institutions.

Students’ unions across the province criticized the move, arguing that even modest increases create barriers for low- and middle-income families. The Canadian Federation of Students called for increased public funding rather than shifting costs to students.

Ontario colleges and universities have reported cumulative deficits exceeding $500 million over the past three years. Institutions have cited frozen tuition, inflation, and reduced international enrollment as contributing factors.

The tuition change does not affect the Ontario Student Assistance Program or other financial aid programs. The government stated it will maintain current support levels for students requiring assistance.

3. Missing Rail Screws Cited in Union Station Derailment

Metrolinx has determined that missing track fasteners were the primary cause of a minor derailment at Union Station last Thursday that disrupted GO Transit service during the evening rush hour.

An investigation revealed that multiple rail screws were absent from a section of track on Platform 3, causing a slight misalignment that led one wheel set of a departing train to leave the rails. No injuries were reported, and the train was traveling at low speed when the incident occurred.

Service on the Lakeshore West, Kitchener, and Barrie lines was suspended for approximately two hours while crews secured the scene and conducted safety inspections. Approximately 8,000 commuters experienced delays or were forced to find alternative transportation.

Metrolinx spokesperson Anne Marie Aikins said the agency has launched a comprehensive review of track maintenance protocols and inspection schedules. All Union Station platforms have undergone emergency inspections since the incident.

The missing fasteners should have been identified during routine track inspections conducted every 48 hours, according to Metrolinx guidelines. The agency has not disclosed why the issue went undetected or how long the screws were missing.

The provincial transit agency has faced scrutiny over maintenance practices following several service disruptions in recent months. Opposition politicians called for an independent review of Metrolinx safety procedures.

Union Station serves as the busiest transportation hub in Canada, with more than 250,000 passenger movements on an average weekday across GO Transit, VIA Rail, and TTC connections.

4. Winter Storm Watch Issued for Greater Toronto Area

Environment Canada has issued a winter storm watch for the Greater Toronto Area, warning of significant snowfall and blowing snow beginning late Tuesday evening.

The weather system is expected to bring 15 to 25 centimeters of snow to Toronto and surrounding regions between Tuesday night and Thursday morning. Strong northeast winds gusting up to 60 kilometers per hour will create hazardous driving conditions and reduced visibility.

The snow is forecast to begin after 10 p.m. Tuesday, with the heaviest accumulation expected Wednesday morning during the peak commuting hours. Snowfall rates could reach three to five centimeters per hour at times.

Environment Canada meteorologist Gerald Cheng said the system is tracking slightly farther north than initially projected, which has increased the expected snowfall totals for the GTA. Areas north of the city, including Vaughan, Markham, and Richmond Hill, could see accumulations approaching 30 centimeters.

The City of Toronto has activated its winter operations plan. More than 200 salt trucks and 600 snowplows will be deployed starting Tuesday evening. Residents are reminded to move vehicles off snow route streets when operations begin.

Toronto Pearson International Airport advised travelers to check flight status before heading to the terminal. Airlines are offering flexible rebooking options for flights scheduled Wednesday.

The TTC said it will deploy additional subway trains and has stationed backup buses at key locations to maintain service levels during the storm. Customers should expect possible delays and allow extra travel time.

The winter storm watch may be upgraded to a warning as the system approaches. Environment Canada will continue monitoring conditions and updating forecasts.

5. Olympic Update: Sarault Wins Bronze, Poulin Injured

Canadian short track speed skater Courtney Sarault captured bronze in the women’s 1000-meter final at the Milano Cortina 2026 Winter Olympics on Monday, while women’s hockey captain Marie-Philip Poulin has been ruled out of the remainder of the tournament with a lower-body injury.

Sarault, 27, from Moncton, New Brunswick, finished third in a tightly contested race with a time of 1:28.847. South Korea’s Choi Min-jeong won gold, with China’s Zhang Yuting taking silver. The medal is Sarault’s first individual Olympic podium finish after winning relay bronze at Beijing 2022.

The result came one day after Canada’s men’s 5000-meter relay team was disqualified in the semifinal for an illegal lane change, eliminating them from medal contention. Canada now has eight medals at these Games, including two gold, three silver, and three bronze.

In women’s hockey, Team Canada announced that captain Marie-Philip Poulin will miss the remainder of the tournament after sustaining an injury during Sunday’s semifinal victory over the United States. Hockey Canada did not provide specific details about the injury but confirmed Poulin would return to Canada for further evaluation.

Poulin, considered one of the greatest players in women’s hockey history, scored four goals in three games before the injury. Forward Sarah Nurse will serve as captain for the gold medal game against Finland scheduled for Thursday.

The Canadian women’s team is seeking its sixth consecutive Olympic gold medal. Finland defeated Sweden 3-2 in the other semifinal to reach the championship game for the first time.

---

The Canadianist provides Toronto’s essential morning news briefing every weekday at 9 a.m. Eastern.