Darpan News Desk The Canadian Press, 25 Oct, 2023 09:38 AM
The Bank of Canada is keeping its key interest rate at five per cent, saying there are clearer signs that monetary policy is moderating spending and relieving price pressures.
But it hasn't ruled out future rate hikes as those pressures remain high.
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Big numbers are being reported for B-C's cruise industry. The Port of Vancouver says its final cruise ship of the 2023 season is setting sail today. It says the 2023 cruise season in Vancouver has been the port's biggest season on record, with an estimated 1.25-million passengers this year.
Israel has escalated its bombardment of targets in the Gaza Strip ahead of an expected ground invasion against Hamas militants. The stepped-up attacks, and the rapidly rising death toll in Gaza, came as Hamas released two elderly Israeli women who were among the hundreds of hostages it captured during its devastating attacks on towns in southern Israel earlier this month.
Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution's independence. The premiers of Ontario, British Columbia and Newfoundland and Labrador wrote to Macklem ahead of the Bank of Canada's Sept. 6 rate decision, outlining concerns about the effects of higher rates on their residents and asking the central bank not to raise its key rate further.
Defence Minister Bill Blair says Hamas is a terrorist organization that is a threat to the whole world and must be "eliminated." Blair also says he has no expectation that Hamas would respect international law, including any agreement on a ceasefire.
A House of Commons committee is asking the heads of Canada's major grocery chains to appear before MPs and explain their plans to stabilize food prices. The agriculture committee passed an NDP motion on Thursday to invite the grocery executives, or summon them if necessary, to testify about the measures their companies are taking to address food inflation.
Vancouver police say officers responded to more than one-thousand-600 incidents over the weekend, fuelled in part by multiple demonstrations across the city. Sergeant Steve Addison says recent geopolitical events have driven the protests, and police will continue to deploy extra officers to manage the situations as they arise.
