Darpan News Desk The Canadian Press, 01 Sep, 2023 11:01 AM
The latest G-D-P report showing the economy contracted at an annualized rate of 0.2 per cent in the second quarter may signal an end to the Bank of Canada's rate hiking campaign.
Economist Tu Nguyen (WIN) at R-S-M Canada says the cooling economy should be enough evidence for the central bank to forgo further rate hikes unless there is another major external shock that sends inflation upward.
She says this is the first time since the early days of the pandemic that spending on services did not grow, which is a powerful sign of a cooling economy.
Public Safety Minister Mike Farnworth says the $150-million investment will upgrade the aging system to the Next Generation 911 system and make it more compatible with evolving technology. Oliver Gruter-Andrew, the CEO of E-Comm 911, which handles most of B.C.'s emergency calls, says the funding is a game-changer for the public safety agency.
The money for B.C. includes an immediate $273 million to address urgent needs, especially in pediatric hospitals and emergency rooms and to address long wait times for surgeries.
The Liberal government has come under pressure in recent weeks to explain what Canada is doing about accusations of Chinese meddling in the last two federal elections following leaks to the media from security sources.
Finance Minister Katrine Conroy says now isn’t the time to start making cuts, so there is more money for things like health care, addiction treatment, foster care, rent control and family supports.
Environment Canada says another winter blast is hammering northwestern parts of the province and is expected to hit the south coast before Thursday. The weather office says 5 to 15 centimetres is expected over higher elevations of the North Shore, west and central sections of the Fraser Valley and along the Sea-to-Sky corridor.
Christopher Ram, 36, pleaded guilty to the March 27, 2022 offence, as well as another indecent act that occurred April 17 at Foster Park, near Kingsway and Boundary Road.
