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.
Prime Minister Justin Trudeau and Governor General Mary Simon will be at Westminster Abbey this weekend as the King is officially crowned, but the rest of the official Canadian delegation largely remains a mystery.
R-C-M-P say a man in his 30s has been arrested and charged with break-and-enter after a burglary in North Vancouver. They say officers spotted a man a short distance away who matched the description of one of the suspects and seized electronic devices worth six-thousand dollars, which were then returned to the business.
Sajjan says the funds will flow through agencies of the United Nations and the Red Cross as well as non-governmental organizations to provide basic food, water and health services. Nearly $31 million will go toward Sudan, while slightly more will be sent to South Sudan, which seceded from that country in 2011.
New Westminster police says they are temporarily increasing their presence in the city's downtown in an effort to address safety concerns. It says this comes after a shooting, two stabbings and several assaults with weapons in the past two months.
The R-C-M-P say they were able to identify the victim within a week of releasing photos of a tattoo and the clothing the man was wearing. They say his name is not being shared out of respect for his family and their request for privacy.
A shooting in Surrey, B.C.'s Guildford neighbourhood has left one man dead. RCMP were called to the 108 Avenue and 148 Street area around 8 p.m. Tuesday night.
