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 Royal Canadian Air Force issued a statement saying Sikorsky Aircraft, the U.S.-based manufacturer of the aircraft, has devised a fix that involves the installation of reinforcements to provide additional strength to the helicopter's airframe.
Jay Chalke's report says the 60-year-old woman had the money to cover the tax bill but personal challenges made it difficult to pay and the City of Penticton sold the home in 2017 for $150,000, costing her about $270,000 in equity.
Surrey RCMP were called at 8:40am on Wednesday in relation to a man barricading himself inside a home in the 14100-block of 114A Avenue. The male is in police custody and has been arrested under the Mental Health Act. He has been transported to local hospital.
Government officials from 110 countries, including Canada, as well as business leaders and civil-society advocates and activists will gather for a two-day virtual "Summit for Democracy" aimed at slowing the march of authoritarianism.
The Bank of Canada is keeping its key interest rate target on hold at its rock-bottom level of 0.25 per cent. In a statement, the central bank also said Wednesday it doesn't expect to raise the trendsetting rate until some time between April and September next year, which is unchanged from its previous guidance.
A man charged in the hit-and-run death of a Calgary police officer has pleaded guilty to manslaughter. A jury trial was to begin this week for Amir Abdulrahman on a charge of first-degree murder in the death of Sgt. Andrew Harnett.
