The Bank of Canada says it feared being too slow to react to sticky inflation ahead of the decision to keep its key interest rate steady earlier this month.
In its summary of deliberations, the central bank says it considered raising interest rates from the current 4.5 per cent.
The Bank of Canada appears confident that inflation will fall to three per cent by mid-year.
But it's concerned that the return to two per cent inflation may take longer as the cost of services remains elevated.
Protests broke out over the weekend in at least 10 Chinese cities, including Beijing, Shanghai, Nanjing and Guangzhou, a scale that is highly unusual. Xi's government faces mounting anger at its zero-COVID policies that have shut down access to areas throughout China in an attempt to isolate every case at a time when other countries are easing controls.
The central principle of Canada's Indo-Pacific Strategy is that Canada acts for its national interests, while defending its values. The Strategy positions Canada as a reliable partner for the region, now and in the future. It constitutes an ambitious plan, which initially provides for an investment of nearly $2.3 billion over the next five years, said the statement.
Winter storm watches have been issued for parts of Fraser Canyon, Fraser Valley, Nicola region, the Okanagan Valley, Similkameen and South Thompson areas. The weather office says the storm is expected to bring up to 20 centimetres of snow.
The announcement comes after Premier David Eby and Mitzi Dean, minister of children and family development, met with members of the group AutismBC and other stakeholders, including the First Nations Leadership Council and B.C.’s representative for children and youth.
Workers applying for EI will be eligible for the more-generous benefits starting on Dec. 18, with advocates praising the move but urging the government to make good on its promise for a much bigger overhaul of the system. Qualtrough made the announcement while visiting the Canadian Cancer Society's regional care centre in Vancouver.
Dr. Theresa Tam, Canada's chief public health officer, said that COVID-19, RSV and influenza are continuing to co-circulate at high levels. While RSV activity seems to have levelled off, Tam said she expects it to remain elevated for weeks to come.