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.
Trudeau's new mandate letters to the 38 members of cabinet were published online Thursday and they show that ending the fight against COVID-19 remains the top priority across government.
Canada's chief public health officer, Dr. Theresa Tam, wrote in an annual report on the state of public health in the country that the pandemic has exposed long-standing cracks in the system.
Special weather statements have been issued by Environment Canada including the Cariboo, West Columbia and Williston regions, with a prediction of 10 to 20 centimetres of snow starting Friday night.
Police say preliminary reports into the crash on Wednesday indicate the driver of the vehicle lost control, slammed through a fence and landed in the in-ground pool.
Politicians jet-setting to different vacation destinations drew much attention last year as federal and provincial governments told Canadians to forgo their travel and gathering plans to combat rising COVID-19 caseloads.
Early data suggests Omicron is more transmissible than the currently dominant Delta variant, with a doubling time of about two days. British Columbia Health Minister Adrian Dix says the province is considering further public health orders on public and private gatherings, with an announcement expected next week.
