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.
The weaker demand resulted in prices dropping for the fourth consecutive month, most notably for detached homes which ended the month with a benchmark price of $1,594,400, down 3.5 per cent from last month and by 10.2 per cent since peaking at $1,776,700 in March. Residential combined properties benchmark prices are still up year-over-year by 18.1 per cent.
DARPAN is excited to announce its 12th Annual DARPAN Extraordinary Achievement Awards which is set to take place on October 7, 2022, in Surrey. We come together to celebrate the achievements and extraordinary people of the South Asian community.
Surrey RCMP Missing Persons Unit has been following up on all investigative avenues since he was reported missing, but have not been able to locate Satpal, so they are requesting the public’s assistance. Satpal Lanji, who also goes by Rai and Ray is described as a South Asian male, 5’7", 140 lbs., slim build, short grey hair, and brown eyes.
On Monday, August 1st, close to 5pm., Coquitlam RCMP received a report of shots fired at a residence in the 900-block of Foster Avenue in Coquitlam. Frontline officers attended the area and discovered bullet holes in the exterior of the residence.
About 300 properties, including the Apex Mountain resort southwest of Penticton, have been ordered evacuated as the fire showed aggressive and unpredictable growth, destroying an unoccupied cabin.
Louise Kenworthy wrapped up the Crown's closing arguments, telling a B.C. Supreme Court jury trial that the case against Aydin Coban was circumstantial, but the two devices seized by police are the link to the Port Coquitlam teenager.