The Bank of Canada says it feared being too slow to react to sticky inflation ahead of the decision to keep its key interest rate steady earlier this month.
In its summary of deliberations, the central bank says it considered raising interest rates from the current 4.5 per cent.
The Bank of Canada appears confident that inflation will fall to three per cent by mid-year.
But it's concerned that the return to two per cent inflation may take longer as the cost of services remains elevated.
In Canada, the economy continues to operate in excess demand and labour markets remain tight. The demand for goods and services is still running ahead of the economy’s ability to supply them, putting upward pressure on domestic inflation.
Previously, the majority of immigrants to Canada came from Europe, but now most immigrants come from Asia, including the Middle East. One in five people coming to Canada were born in India, the data shows, making it the top country of birth for recent arrivals.
Peace Arch Provincial Park, the nine-hectare park that straddles the B.C.-Washington state border south of Vancouver, reopened Monday after being closed more than two years ago amid pandemic-related border closures.
Shaw's ownership of Freedom Mobile has widely been seen as the main obstacle to the deal's approval, and Montreal-based Videotron earlier this year agreed to buy it for $2.85 billion. But Champagne said before he would approve the Videotron deal, he requires additional concessions.
The central bank is expected to raise its key interest rate by half or three quarters of a percentage point on Wednesday in an effort to clamp down on decades-high inflation, making it the sixth consecutive rate hike this year.
On March 19, 2021, Richmond RCMP officers responded to the 22000-block of Rathburn Drive to assist with a structure fire. The deceased were identified as brothers, Chaten Dhindsa, 25 and Joban Dhindsa, 23, both of Richmond. The injuries sustained by the Dhindsa brothers were consistent with a homicide.