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.
U.S. President Joe Biden will host Prime Minister Justin Trudeau and Mexican President Andrés Manuel López Obrador at the White House next week, the first gathering of the so-called Three Amigos since 2016.
The Bank of Canada enacted extraordinary measures during the pandemic to keep credit flowing and encourage low interest rates to spur demand. Its program to purchase government bonds, known as quantitative easing, encouraged low rates on things such as mortgages and business loans.
Provincial health officer Dr. Bonnie Henry says unvaccinated health-care workers will be offered the first opportunity to receive the single-dose Johnson & Johnson vaccine against COVID-19 when it arrives in British Columbia next week.
Environment Canada had previously reported a tornado over the Strait of Georgia just west of the Vancouver International Airport at about 5 p.m. on Nov. 6.
There are currently 4,301 active cases of COVID-19 in the province, and 203,375 people who tested positive have recovered. Of the active cases, 426 individuals are currently in hospital and 124 are in intensive care. The remaining people are recovering at home in self-isolation.
The Bolivian government struck a deal with Ontario's Biolyse Pharma to seek a compulsory licence to produce and export COVID-19 vaccines without the permission of the patent holder.
