Darpan News Desk The Canadian Press, 18 May, 2023 10:13 AM
The Bank of Canada is growing more concerned about the risks that high household debt pose to Canada's financial system.
WATCH: Governor Macklem and Senior Deputy Governor Rogers take questions from the media following the release of the Financial System Review.https://t.co/wcXIiWJUy0#economy#cdnecon
It says higher borrowing costs mean more households will likely face financial pressure going forward, while falling home prices have reduced homeowner equity.
The central bank is also warning that financial stability could be threatened by a potential major cyber attack and more frequent extreme weather events associated with climate change.
The city says designated swim areas at eight beaches will be patrolled from 11:30 a-m to 8:30 p-m daily. The hours will change later in the summer as the sun sets earlier.
Janice Abbott resigned with immediate effect, the society announced Monday. Elva Kim, who chairs the board of Atira, said in a statement that she's confident Abbott's resignation would allow Atira to continue its work with "fewer distractions."
The prime minister is expected to be in Seoul between May 16 and May 18, after South Korean President Yoon Suk Yeol's visit to Ottawa last fall. Since then, both countries have released their Indo-Pacific strategies, plans that aim to counterbalance Chinese influence by increasing economic and military ties in the region.
Kennedy Stewart says a memorandum of understanding between the city, the park board, and the province, meant to help people living in encampments, is being "recklessly disregarded." He describes Sim's support of the V-P-D in dismantling the tent encampment as "hyper colonial" and "cruel."
Canada Mortgage and Housing Corporation reports the annual pace of housing starts jumped 22 per cent between March and April. It says the increase is due to a 33 per cent rise in starts of multi-unit urban homes.
The World Travel and Tourism Council says a return of overseas visitors to Canada's biggest cities will fuel a big rebound in Canada's travel and tourism sector this year. It's predicting the industry will pump 162.6-billion dollars into the economy, up more than 17 per cent from last year.
