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.
Canada and other allies are pushing the Taliban to allow anyone with valid travel documents to leave Afghanistan, Garneau said, with hopes the Kabul airport will soon reopen under civilian control.
Statistics Canada is reporting that the economy contracted at an annualized rate of 1.1 per cent between April and June, and estimates another drop in real gross domestic product in July.
On Monday, the province reported seven more deaths and 1,853 new cases of COVID-19 diagnosed over a three-day period from Friday to Monday. From Friday to Saturday, there were 769 cases, but the number dropped to 503 on Sunday to Monday.
The leader's warning came one day after several Conservative campaign workers were spotted among a crowd of raucous protesters who forced the cancellation of a Liberal event featuring Justin Trudeau in Bolton, Ont.
The new Level 3 travel advisory, issued today, marks a quick end to a three-week period when the warning to would-be travellers to Canada had been eased to "exercise increased caution."
84.2% (3,904,121) of eligible people 12 and older in B.C. have received their first dose of COVID-19 vaccine and 76.4% (3,541,731) received their second dose.
