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.
In a wide-ranging interview, he said that when it comes to gun control he believes the focus should be on stopping the flow of handguns coming into Canada from across the border. He pointed to the volume of shootings that have happened in Montreal and Toronto.
Nine people were killed in the fiery Tuesday night crash and the two Canadians — Dayton Price, 19, of Mississauga, Ont., and Hayden Underhill, 20, of Amherstview, Ont. — suffered critical injuries.
The government's use of the emergency powers in February included allowing financial institutions to freeze the accounts of those involved in the protests that occupied streets in downtown Ottawa and blocked key border crossings.
On Monday, federal Emergency Preparedness Minister Bill Blair finished a tour of B.C. communities that experienced devastating floods last November, including Abbotsford and Merritt, where some people still have not been able to move home.
There are 298 individuals hospitalized with COVID-19 and 49 are in intensive care. In the past 24 hours, seven new deaths have been reported, for an overall total of 2,960.
Several cabinet ministers gathered for a news conference to share details of $633 million first announced in Budget 2022 for supports over three years for people experiencing homelessness.
