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 Village of Cache Creek, nearly 350 kilometres northeast of Vancouver, has issued an evacuation order for a single property along the Trans Canada Highway due to an “existing or imminent” threat of flooding.
The agency says it will now set up additional primary control zones as needed around the infected zone, currently centred around the communities of Yarrow and Barrowtown 90 kilometres east of Vancouver. Since an outbreak began in 2022, H-5-N-1 has forced farms in B-C and across Canada to cull millions of birds when an infection is found.
The B-C Wildfire Service says the Dripping Water wildfire discovered on Thursday 600 kilometres north of Vancouver has now reached over 200 hectares. Meanwhile, the Lost Valley Road wildfire over 400 kilometres northeast of Vancouver discovered on Saturday has now reached over 100 hectares.
The Abbotsford Police Department says the Uber driver was injured and extremely shaken during an attack on April 18. Police say the investigation involved help from Uber and other law enforcement partners to identify a suspect.
The Canada-U. S. Cross-Border Crime Forum brings together Public Safety Minister Marco Mendicino, Justice Minister David Lametti and their U.S. counterparts, Homeland Security Secretary Alejandro Mayorkas and Attorney General Merrick Garland.
Moments of silence are being held today to mark the national day of mourning for people who have died, been injured or suffered illness on the job. Nova Scotia N-D-P Leader Claudia Chender noted there were 24 workplace deaths in the province last year -- more than the year before.
