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.
The federal government plans to spend 390-million-dollars over the next five years as part of a renewed program to fight gang violence and gun crime. Public Safety Minister Marco Mendicino (men-duh-CHEE'-no) says the money will go to the provinces and territories and will include support for policing and prevention programs.
The B.C. Wildfire Service said Sunday the fire at Boundary Lake was an estimated 5,900 hectares, compared to about 3,000 hectares earlier in the day. The fire at Red Creek hit 2,800 hectares, up from 1,550.
Surrey R-C-M-P say the shooting happened on May 2nd at 8 p-m in a parking lot on 108 Avenue, where officers found two victims who had been shot. One victim, 20-year-old Jayden Prasad, died of his injuries while the other victim recovered.
Burnaby R-C-M-P say the crash happened at 1:50 p-m near Imperial Street and Patterson Avenue, when an eastbound car veered onto the sidewalk and hit the 19-year-old victim. The victim remains in hospital in serious condition, and police have ruled out impaired driving as a factor.
Police say the incident happened at around 1:30 p-m, when a black S-U-V driving southbound near the 3600 block of 152 Street struck another southbound car, left the road, and went into the Nicomeki River.
Dozens of firefighters battled the two-alarm fire this morning at a house that was under construction. Fire officials say flames about 20-feet high were coming from the roof.
