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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.

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Arrest made in suspicious death

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Arrest made in suspicious death

Celebration of Light kicks off tomorrow

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Celebration of Light kicks off tomorrow

Armed robbery in Kelowna

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Armed robbery in Kelowna

Hot weather for this weekend

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Hot weather for this weekend

Nanaimo man dies after crash

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Nanaimo man dies after crash

Water consumption still high despite calls for water conservation

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The regional government says reservoir levels remain normal for the season, but water consumption is trending higher than the same time last year.  It says water consumption peaked on July 5th with 1.56 billion litres used, even though it wasn't a day designated for watering lawns. 

Water consumption still high despite calls for water conservation