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 3,047 active cases of COVID-19 in the province, and 210,478 people who tested positive have recovered. Of the active cases, 345 individuals are in hospital and 115 are in intensive care. The remaining people are recovering at home in self-isolation.
The findings released Tuesday are based on the responses of 25,268 adults in 10 provinces — including 6,517 Indigenous individuals — to a survey last spring about the pandemic's impacts on health care.
Provincial health officer Dr. Bonnie Henry says up to 350,000 children will be eligible for the vaccine and more than 90,000 kids are already registered.
Delivered in the Senate, the ceremony surrounding the opening of Parliament hearkens back to a struggle in 1642 in the English House of Commons between an unpopular King and his MPs.
Blair says it's still too early to estimate how much it will cost to fix all the damage caused by the atmospheric river that hit B.C. earlier this month. The storm dropped nearly 300 mm of rain on some communities in southern B.C. in less than two days, washing out major highways and rail lines, and triggering mudslides that killed at least four people.
The federal minister of emergency preparedness says border guards have been advised that British Columbia residents can cross into the United States for essential supplies because of flooding in the province after some were reportedly facing fines or told they would have to quarantine on returning to Canada.
