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.
There are 6,348 active cases of COVID-19 in the province, and 220,741 people who tested positive have recovered. Of the active cases, 192 individuals are in hospital and 76 are in intensive care. The remaining people are recovering at home in self-isolation.
A series of strong storms will clash with cold Arctic air throughout B.C. during the holidays, according to Environment and Climate Change Canada. Periods of heavy and blowing snow, freezing rain and very cold weather are likely in many parts of B.C. between now and New Year’s Day.
The Canadian Armed Forces is facing fresh calls to create an “explicit exception” for victims of sexual misconduct and their confidantes from having to report incidents to their commanders.
Environment Minister Steven Guilbeault published draft regulations Tuesday outlining how Canada will ban the manufacture, sale and import of these items, along with plastic cutlery, stir sticks, straws and six-pack rings, by the end of next year.
The federal Liberals have put the White House on notice that Canada will officially challenge the legality of an American decision to hike duties on softwood lumber heading south of the border. The government is filing the grievance under the recently renewed North American free trade pact.
Canada’s housing minister says the federal government plans to take a tougher stand on investment properties to help cool housing prices. The broad strokes of the agenda were outlined in the mandate letter the prime minister gave to Housing Minister Ahmed Hussen.
