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.
There's no word on when Eby will be sworn in as premier, but outgoing Premier John Horgan says he fully supports him and accused Appadurai's campaign of resorting to tactics of "thuggery." Eby, the former B.C. attorney general and housing minister, says he will also lay out plans today for his first 100 days in office.
Rain is expected to continue through Saturday and into next week and shishalh Nation Chief Warren Paull anticipates the Sechelt area could receive as much as 35 millimetres from the expected round of systems, but says much more is needed.
Surrey RCMP is warning the public of a batch of high potency Fentanyl circulating and reminding people using street drugs to take appropriate precautions. There is high potency Fentanyl circulating in the North Surrey area, which increases the risk of overdose.
U.K. Prime Minister Liz Truss stepped down today after a mere six weeks in office following ministers' resignations over her controversial tax policies. The ruling Conservative Party says it will elect a new leader in a week, who will then install a new cabinet.
One man is in custody. Police say the public is not believed to be at risk. A statement from the Saanich Police Department says its officers are working with major crime investigators.
Eby, the New Democrat government's former attorney general and minister responsible for housing, will officially be declared the leader of the B.C. New Democratic Party Friday, which paves the way for him to be sworn in as premier.
