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.
🔴 WATCH LIVE
Tune in as Governor Macklem and Senior Deputy Governor Rogers take questions from the media following the release of our interest rate decision and most recent forecasts for the #economy. https://t.co/xOVdGhhbIL#cdnecon
Mounties in B-C are recommending numerous charges against an Edmonton man after a drug seizure at a Canadian border crossing in Surrey. The Canada Border Services Agency says the driver was arrested and officers seized roughly 65 kilograms of cocaine at the crossing last July after a detector dog raised the alarm during a commercial truck examination.
Thousands of officers in uniform filled the event centre in Langley, B.C., to attend a regimental funeral for RCMP Const. Rick O'Brien who was killed last month in Coquitlam. Officers from around the province, including RCMP, other police services, firefighters, military and others attended the ceremony for O'Brien, who is the tenth police officer to be killed in Canada since September of last year.
The Liberals have launched a scholarship to commemorate those killed in the downing of Flight PS752 by Iranian officials in 2020. The program will disburse 176 scholarships, one for each of the people who died when a Ukraine International Airlines flight was shot down outside Tehran. The victims included 55 Canadian citizens and 30 permanent residents, many of whom had significant academic accomplishments in Canada.
The last remaining manufacturer to offer an alternative to mRNA COVID-19 vaccines in Canada is boasting about the importance of having several available vaccine options — though the company is providing little certainty about its ability to manufacture the shot domestically. The new formulation is awaiting Health Canada approval.
The Real Estate Board of Greater Vancouver says a jump in new listings is helping to bring some balance back to the region's housing market. The board says September sales totalled 1,926, a 13.2 per cent increase from the 1,701 sales recorded the same month last year. But the total was 26.3 per cent below the 10-year seasonal average of 2,614 and marked a 16.1 per cent drop from 2,296 sales in August.
Central banks have been trying their best to convince the public that their interest rate hikes are ultimately for the greater good. But not everyone is buying it. An informal coalition of labour groups, political leaders and economists has formed over the last year and a half to challenge the very economic concepts behind monetary policy.
