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.
Some restaurants and bars are starting to book holiday parties, both corporate and personal, but it remains to be seen whether bookings will return to pre-pandemic levels, There are also fears that the winter could bring a wave of cancellations, after last year’s holiday season saw COVID-19 cases skyrocket, and many establishments chose to close their doors for New Year’s Eve.
The PBO recently estimated that the dental benefit will cost $703 million, while the rental support will cost up to $940 million. The dental benefit is meant to be an interim measure while the government works on a more complete dental-care program.
The three newly appointed justices include Anita Chan, a Crown prosecutor with 27 years of experience, Joseph Doyle, a private practice lawyer with experience in civil, criminal and administrative law, and Kevin Loo, a former appeal court law clerk and now partner in a Vancouver law firm.
Food retail prices in September rose at the fastest pace since 1981, with prices up 11.4 per cent compared with a year ago. That compared with an overall inflation rate of 6.9 per cent. Although the inflation rate has dropped from its peak of 8.1 per cent in June, food prices are outstripping the overall consumer price index and continue to rise.
Sunak will be the third British prime minister in less than two months, following the resignations of both Boris Johnson and Liz Truss. Truss spent just six weeks in the role before she was forced to step down following economic turmoil in response to her proposed tax cuts.
The BC Nurses Union has been calling for better protective measures for its members for at least 30 years. Its president, Aman Grewal, says nurses are punched, kicked, grabbed and verbally and sexually harassed at increasingly dangerous workplaces, where injury rates are under-reported and higher than those affecting first responders.