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.
Fifty-four per cent of respondents to an online survey by Leger and the Association for Canadian Studies say the worst of the COVID-19 crisis is already over, compared with 63 per cent who believed so in a survey last month.
They're part of a process Elections Canada has devised to ensure an election can be conducted safely and produce trustworthy results while the country remains in the grip of COVID-19.
A report published this morning by parliamentary budget officer Yves Giroux estimates ending wait lists, increasing staff pay and benefits, providing more hours of care each day and expanding home care could cost around $13.7 billion.
Last year, Canada sent 529 front-line crew members, 62 supervisory teams and a number of aircraft to help the U.S. battle rampant wildfires in California and the Pacific Northwest.
The B.C. board says home sales in the region totalled 3,326 last month, a 6.3 per cent increase from the 3,128 sales recorded last July and an 11.6 per cent drop from the 3,762 homes sold in June.
Legal arguments are expected over the next few weeks from the Department of Justice and Meng's lawyers over whether she should be extradited to the United States.
