The inflation rate rose to 3.3 per cent in July, a development that economists warn spells bad news for the Bank of Canada.
Forecasters say the latest report raises the odds of an interest rate hike next month, despite other signs of economic softening, including rising unemployment.
B-MO chief economist Douglas Porter still expects the Bank of Canada will stay on the sidelines but he says the inflation figures will make it a tougher call.
Indian Commerce Minister Piyush Goyal visited Ottawa and Toronto this week, where he told media that New Delhi wants to vastly increase its trade with Canada. The two countries are negotiating a possible agreement that is limited to certain sectors, instead of a comprehensive deal that covers most of the economy.
An Environment Canada meteorologist says B-C's upcoming temperature spike shares some of the same characteristics as a so-called heat dome. Alberta and B-C, however, are still facing forecasts of daytime high temperatures soaring 15 degrees above normal starting today.
Victoria Police have recovered contraband cigarettes worth 450-thousand dollars after a months-long investigation into illegal cigarette sales. Police say they began investigating in February cases of contraband cigarettes being sold in Greater Victoria at a fraction of their retail price.
The B-C N-D-P government has ended its spring legislative session after passing 25 pieces of legislation, including laws that allow police to seize proceeds of crime. But the sitting also ends in turmoil after an Ernst and Young audit found mismanagement at Crown corporation B-C Housing.
A 65-year-old female has been charged in a fraud investigation resulting in over $150,000 lost in funds. In August 2020, Coquitlam RCMP received a fraud report from the Coquitlam Little League after it was discovered that over $150,000 was missing from the league’s bank account.
The ferry operator says it will add 95 extra sailings between May 18th and 23rd to accommodate the extra traffic, projected to be more than 430-thousand passengers and 170-thousand vehicles over the six-day period.