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.
A pedestrian who stepped off the curb, outside of a marked crosswalk, to cross the street was struck by a vehicle heading west bound on 72 Avenue. The pedestrian was transported to local area hospital with non-life-threatening injuries.
The blaze is one of five classified as "wildfires of note" by the BC Wildfire Service and has charred more than 69 square kilometres. Hugh Murdoch, incident commander for the wildfire service, says that though the fire will continue to burn, it poses no current threat to homes and he is "very comfortable" with the crews and resources that are in place.
Urgent services for people who can prove they need a passport within 48 hours are only available in bigger urban centres — Toronto, Montreal, Vancouver, Calgary, Edmonton, Gatineau, Que.
Mandarin and Punjabi are the most common non-official languages, with more than a million people predominantly speaking one of the two languages. Statistics Canada noted a large increase in the growth of the number of Canadians who predominantly speak South Asian languages such as Punjabi, Gujarati, Hindi or Malayalam since the last census in 2016, a rise which was fuelled by immigration.
A statement from Const. Jody Thomas says an unknown man tried to pull the youngster from a ground floor bedroom window of a home on Abbotsford's east side. It happened just before 9 p.m. Monday.
Still, inflation is well above the Bank of Canada’s two per cent target. Bank of Canada governor Tiff Macklem made that very point in an op-ed published by the National Post on Tuesday, saying inflation "remains far too high" and emphasizing the central bank's role in bringing inflation down.
