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.
Parks Canada says its new online reservation system to book camping sites and other activities at national parks appears to have worked well during its first week of operations. The site was recently updated to fix an older one that was prone to crashes and glitches.
On Monday, at 2:44 am Police and Fire were called to a porta-potty also set on fire in the 1900 block of Jones Ave in North Vancouver. No suspects were seen at this location but police believe this incident is related to the March 13th arson.
It says the victims and those accused of reported hate crimes are most often men and boys. In British Columbia, religious hate crime reports more than doubled to 150 in 2021, while in Alberta they tripled to 91 incidents.
Industry Minister François-Philippe Champagne has tabled legislation that would create a corporate beneficial ownership registry. The prospective registry is expected to have the goal of making it easier to identify owners of corporations who launder money, commit financial crimes or evade taxes.
The deadline to apply for a three-year emergency visa was originally March 31, but Ukrainians and their family members will now be able to apply until July 15. After that date, Ukrainians will still be able to apply for traditional work, study and visitor permits to come to Canada after the application period expires, but they will be charged the usual fees associated with those applications.
In downtown Ottawa Wednesday, about 20 police vehicles circled the area as U.S. flags were strung up near Prime Minister Justin Trudeau's official office and the main street in front of Parliament Hill. Meanwhile, workers were busy installing fences to prepare for the visit.
