Close X
Tuesday, November 19, 2024
ADVT 
National

Another rate hike coming: Stats Can

Darpan News Desk The Canadian Press, 15 Aug, 2023 10:04 AM
  • Another rate hike coming: Stats Can

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.

MORE National ARTICLES

West Fraser Timber reports loss in fourth quarter

West Fraser Timber reports loss in fourth quarter
The company, which reports in U.S. dollars, says in the fourth quarter it faced dampened new home construction in the U.S. due to high interest rates, which weighed on its lumber business in particular.

West Fraser Timber reports loss in fourth quarter

MPs want transparency in Canada's sanctions regime

MPs want transparency in Canada's sanctions regime
The committee launched a study of the Russian military buildup at the border with Ukraine shortly before Moscow chose to invade the country a year ago. Since then, Ottawa has sanctioned hundreds of people linked to Russia's war effort, as well as officials accused of human-rights breaches from Haiti to Sri Lanka.    

MPs want transparency in Canada's sanctions regime

Avalanche kills two in B.C.'s backcountry

Avalanche kills two in B.C.'s backcountry
Search and rescue crews were notified when the victims were reported overdue and their bodies were later recovered from the scene of the avalanche. Avalanche Canada says the area of the slide was highly wind-affected, leaving some parts of the slope thin and rocky, while other sections had up to 130 centimetres of snow.

Avalanche kills two in B.C.'s backcountry

Pandemic support lowered B.C.'s child poverty rate

Pandemic support lowered B.C.'s child poverty rate
It's the largest one-year drop in the rate since 2000, but one in eight children were still living in poverty, and the report says rates were "dramatically higher" among children living on First Nation reserves and those who recently immigrated.

Pandemic support lowered B.C.'s child poverty rate

MPs want more earthquake donations matched

MPs want more earthquake donations matched
The federal government has offered to match up to $10 million in donations to the Canadian Red Cross for their partners on the ground to help people who are suddenly homeless. Conservative, Bloc Québécois and New Democrat MPs want to see that expanded to include other groups, an idea that is supported by at least one Liberal MP, Sameer Zuberi.

MPs want more earthquake donations matched

Canadian's body found in Turkey earthquake rubble

Canadian's body found in Turkey earthquake rubble
Saad Zora says his twin sister Samar was found earlier today by searchers as an excavator dug through pieces of a five-storey building in the city of Antakya. He said, "Samar was found," and added, "she didn't make it."

Canadian's body found in Turkey earthquake rubble