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.
In its 2023 budget Tuesday, the government revealed the federally administered insurance program will be far more expensive over the next five years than it originally thought. It is also projecting that ongoing costs after that will more than double to $4.4 billion per year, up from $1.7 billion.
The CEO of the Horizon School Division, whose term at the helm of the hockey team has ended, was unexpectedly thrust into an international spotlight after the crash. So was his community and team. Now, Garinger says, the intense focus has faded but the small Saskatchewan city east of Saskatoon is still figuring out how to exist within that legacy.
The largest telecommunications deal in Canadian history will go forward after Rogers Communications Inc.'s $26-billion takeover of Shaw Communications Inc. received approval from Ottawa on Friday. The green light means the deal has cleared its final regulatory hurdle just over two years after it was first announced.
Canadian Heritage Minister Pablo Rodriguez has said his government is against the amendment because it could create a loophole for big companies to avoid following the law. The U.S. government has also raised concerns that the law could discriminate against American companies, with some U.S. senators calling for a trade crackdown.
B.C. Health Minister Adrian Dix said on Tuesday he wants a federal clampdown on sales to non-residents after it was discovered that Americans were being sent thousands of doses of Ozempic in the mail from B.C., the majority prescribed by a single practitioner in Nova Scotia.
The water taxi and a Tofino Air Beaver float plane carrying six people collided while heading for the same dock in October 2021. The pilot and passengers were able to safely get out of the aircraft, although three sustained minor injuries, and within minutes it had capsized.