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.
Statistics Canada reported Wednesday that the annual pace of inflation climbed in December to 4.8 per cent, a pace that hasn't been seen since September 1991.
Sean Fraser, Canada's minister responsible for refugees, says the latest arrivals are among a total of 7,000 refugees that have now been airlifted to various parts of Canada.
On January 19, 2022 shortly after 3:00 a.m. Surrey RCMP responded to the report of shots fired inside a warming center in the 10600-block of King George Boulevard. Two people were located with injuries believed to be gunshot wounds. Both victims were transported to hospital with non-life-threatening injuries and have since been released.
Environment and Climate Change Canada says in a news release that Hang Hing Herbal Medicine Ltd. was fined $75,000 for importing an endangered species without a permit.
There are 37,167 active cases of COVID-19 in the province, and 258,417 people who tested positive have recovered. Of the active cases, 854 COVID-positive individuals are in hospital and 112 are in intensive care. The remaining people are recovering at home in self-isolation.
Pronounced PAX-luh-vid, it is an oral antiviral treatment for COVID-19, consisting of a combination of two medications that must be taken together. The first drug, nirmatrelvir, blocks an enzyme that the SARS-CoV-2 virus needs to reproduce.
