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.
As a result, the financial services company says, federal and provincial governments all saw an improvement in their 2021-22 deficit estimates and starting points for the rest of their fiscal forecast.
The study by the Canadian Centre for Policy Alternatives says because provinces and territories are taking different approaches to try to meet the government’s initial fee reduction targets, some might miss them.
The new report shows hospitals and health systems have gotten better at weathering spikes of COVID-19 infection since the virus first struck the country in early 2020. But the number of surgeries performed still fluctuates with each pandemic wave, compounding backlogs every time.
Anand told a conference hosted by the Canadian Global Affairs Institute that the government is taking "a full and comprehensive look" at ballistic missile defence as part of a larger review of what is needed to better protect North America from attack.
Canada is giving $229 million in aid for Syria and neighbouring nations hosting refugees from the war-torn state. The aid package includes $169 million for food, clean water and hygiene and health services, as well as support for women facing sexual and domestic violence.
Two unnamed victims were found dead inside the home. The police statement says early indications suggest the deaths are not connected to the ongoing Lower Mainland gang conflict.
