Darpan News Desk The Canadian Press, 18 May, 2023 10:13 AM
The Bank of Canada is growing more concerned about the risks that high household debt pose to Canada's financial system.
WATCH: Governor Macklem and Senior Deputy Governor Rogers take questions from the media following the release of the Financial System Review.https://t.co/wcXIiWJUy0#economy#cdnecon
It says higher borrowing costs mean more households will likely face financial pressure going forward, while falling home prices have reduced homeowner equity.
The central bank is also warning that financial stability could be threatened by a potential major cyber attack and more frequent extreme weather events associated with climate change.
British Columbians need to be ready for a startling tone on their cellphones when a test of the national emergency alert system is blared out this afternoon. The alert will go to all compatible cellphones and will interrupt radio and television broadcasts at 1:55 p-m Pacific time.
The Township of Langley says it wants its own RCMP detachment and plans to stop sharing policing resources with the City of Langley. The township's council voted to begin the process, which the mayor says could take up to four years.
Immigration Minister Sean Fraser says Canadians will be able to apply to renew their passports online beginning this fall. He announced the news at an event to unveil a new design for Canada's passport, which includes updated security features and colourful new pages.
A news release today says Trudeau will visit Seoul between May 16 and 18 and meet with South Korean President Yoon Suk Yeol to advance shared priorities, including economic and energy security, the path to net-zero emissions and human rights.
Police say the death of Carson Crimeni on Aug. 7, 2019, and the circumstances surrounding the case were "a shock to the community." Crimeni's family has said that on the day he died he was given drugs by others who wanted to share his reaction on social media.
The 37-year-old suspect is charged with one count of arson. No one was injured in the blaze near Argyle Street and Victoria Drive on December 16th. It caused more than a million-dollars in damages.
