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 mill is not at risk and the statement says the fire has been contained to the log yard while firefighters from several area departments work to stop its spread.
Premier John Horgan says the province is willing to help Alberta when it comes to battling COVID-19, but the priority is on ensuring hospitals in British Columbia don't become overwhelmed.
The Ministry of Transportation announced Highway 1 was being closed starting at 4 p.m. on Friday between Spences Bridge and Lytton, most of which was destroyed by a wildfire in late June.
There are currently 6,031 active cases of COVID-19 in the province, and 169,653 people who tested positive have recovered. Of the active cases, 298 individuals are in hospital and 135 are in intensive care. The remaining people are recovering at home in self-isolation.
Speaking in the border city of Windsor, Ont., Trudeau says the policy debates Canadians have had over the past five weeks will underpin the next government's agenda.
The latest report from the Crown utility says record-breaking heat between June and August in many parts of the province killed trees or weakened their root systems.
