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.
"Every night is a horrible night," he said, speaking in Ukrainian, to a crowded House of Commons where almost every MP, many senators and dozens of members of the public gathered to listen.
The Queen wore a sapphire brooch given to her by former governor general David Johnston in 2017 to mark her 65th anniversary. The Queen’s Platinum Jubilee is being commemorated across the Commonwealth this year.
Flooding in southern B.C. and northern Washington in November displaced an estimated 500 people south of the border and about 14,000 were forced to flee their homes on the Canadian side.
There are 345 individuals hospitalized with COVID-19 and 50 are in intensive care. In the past 24 hours, no new deaths have been reported, for an overall total of 2,946.
With Sept. 10 picked as the date for when the Conservative Party of Canada will have a new leader, time is ticking for prospective candidates and their teams to get into place. Those running have until April 19 to throw their hat into the ring and until June 3 to sell memberships.
The agency warning covers alpine, treeline and below-treeline sections on south coast mountains for Tuesday and Thursday. It says recent storm slabs could likely be triggered by human activity in the area.
