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.
Selina Robinson says the province will factor in the cleanup costs associated with the disastrous floods and mudslides that hit communities, highways and railways in February's budget.
Environment Canada also warned of heavy snow in inland parts of the province on Sunday, saying that the snow could change to heavy rain as the temperature rises.
Last Monday, as flooding and mudslides ravaged British Columbia, Dean Hopkins got a distraught call from his close friend's wife, saying her husband was missing. That phone call kicked off several stress-filled days for Hopkins, which ended in tragedy when his old rugby buddy Steven Taylor was confirmed dead.
The Public Health Agency of Canada says it hopes to keep the number of wasted doses of COVID-19 vaccines in Canada under five per cent. That would amount to 3.7 million of the 73.7 million vaccines that have been distributed to provinces and territories, used by the federal government or held in the central vaccine inventory as of Nov. 18.
Government House leader Mark Holland said a bill to approve billions in new aid for businesses still hurting from COVID-19 is one of four pieces of legislation the Liberals want passed by the middle of next month.
Ontario parents can start making appointments for eligible kids ages five to 11 starting Tuesday. Doses are expected to be handed out as early as Thursday, the province said.
