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.
Canada is joining forces with Mexico to challenge how the United States is interpreting the new rules that govern duty-free cars and trucks. Mexico last week asked for a dispute resolution panel to challenge the stringent U.S. interpretation of the auto rules of origin enshrined in the U.S.-Mexico-Canada Agreement.
A new report suggests Canada is not doing enough to adapt to and prevent the effects of climate change and is lacking the critical data it needs to do so.
Two schools have stopped in-person classes in British Columbia, less than two days after most students returned to classrooms following an extended holiday break due to the surging COVID-19 Omicron variant. The Education Ministry says schools in Hazelton and Surrey recently made the decision.
Given the continued need for public safety measures under the Emergency Program Act and ongoing work to repair damaged highways, the provincial state of emergency is being extended until the end of day, Jan. 18, 2022.
There are 36,087 active cases of COVID-19 in the province, and 244,551 people who tested positive have recovered. Of the active cases, 469 individuals are in hospital and 97 are in intensive care. The remaining people are recovering at home in self-isolation.
Federal COVID-19 vaccine contracts mean Canada should get enough doses to give two or three more mRNA shots to every Canadian, every year until at least 2024.
