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.
Chief public health officer Dr. Theresa Tam says the latest evidence does not support the hope the Omicron variant is contagious for less time than previous versions of the virus that causes COVID-19.
The Prince Rupert Port Authority released its annual cargo volumes report Tuesday showing 25 million tonnes moved through the facility last year, a 23 per cent decrease in year-over-year total volume.
Gyms and other exercise facilities are being allowed to reopen in British Columbia, a move the province's top doctor describes as a "cautious step" in lifting COVID-19 restrictions. Dr. Bonnie Henry says proof of vaccination will be required to use gyms, which will operate under capacity limits.
Temporary repairs to the Coquihalla are in place while the ministry plans permanent repairs to the damaged sections. This means travel-pattern changes and reduced speed limits, with the trip between Hope and Merritt taking about 45 minutes longer than normal.
While the military is supposed to have just over 100,000 troops at full strength, new Defence Department figures show it was short about 12,000 regular force troops and reservists at the end of November.
Joly is wrapping her two-day trip to Ukraine, the first leg of a three-country continental tour that will include stops in France and meetings with European Union and NATO leaders in Brussels.
