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.
The Canadian economy added 55,000 jobs in December before COVID-19 cases began spiking at the end of the month, prompting public health restrictions that forced many businesses to close or curtail operations.
A pediatrician who has researched COVID-19 vaccine hesitancy among parents in Canada, the United States and Israel is urging people concerned about getting their children vaccinated to talk to a health-care provider as the Omicron variant pushes cases to all-time highs.
British Columbia's seniors advocate is asking the province to designate one person as an essential visitor for every long-term care resident as the facilities move to stem the spread of COVID-19. Isobel Mackenzie says in a news release that the need to limit visitors has left a majority of long-term care residents without visits from loved ones.
There are 31,817 active cases of COVID-19 in the province, and 238,524 people who tested positive have recovered. Of the active cases, 324 individuals are in hospital and 90 are in intensive care. The remaining people are recovering at home in self-isolation.
With the harsh winter conditions in the Lower mainland, Alex Fraser Bridge has been shut down in both directions. A tweet from Drive BC says to use an alternate route
Provincial health officer for British Columbia Dr. Bonnie Henry said in a news conference Tuesday that schools are "not a major source of transmission." But other experts say schools need to take extra care against the highly transmissible Omicron variant.
