Darpan News Desk The Canadian Press, 01 Sep, 2023 11:01 AM
The latest G-D-P report showing the economy contracted at an annualized rate of 0.2 per cent in the second quarter may signal an end to the Bank of Canada's rate hiking campaign.
Economist Tu Nguyen (WIN) at R-S-M Canada says the cooling economy should be enough evidence for the central bank to forgo further rate hikes unless there is another major external shock that sends inflation upward.
She says this is the first time since the early days of the pandemic that spending on services did not grow, which is a powerful sign of a cooling economy.
An air quality advisory covering most of the Vancouver area has been lifted. The Metro Vancouver Regional District says a change in weather has reduced the amount of fine particulate matter in the air coming from wildfire smoke in the B-C Interior.
Premier David Eby was scheduled to visit the fire-ravaged southern Interior on Tuesday, along with Emergency Management Minister Bowinn Ma and Forests Minister Bruce Ralston, to get a first-hand look at the devastation caused by the raging wildfires.
The Canada Border Services Agency says charges have been laid against an American man after he attempted to bring guns into the country. It says in a statement today that the man was stopped on May 6 by C-B-S-A officers at the Abbotsford border crossing as he attempted to pass through B-C on his way to Alaska.
The Insurance Bureau of Canada says it's too early to provide estimates of insured damages from British Columbia fires that are still burning. However, experts do recommend getting your insurance claim started as soon as possible.
Two housing experts who helped co-author a recent report on the federal government's role in solving the housing crisis are set to present their findings to the cabinet later today. The report delivered a week ago warns that "Canada's housing crisis is worsening dramatically" in large part because of an "extreme" lack of accessible and affordable rentals.
BC Premier David Eby wants to visit the province's fire-ravaged southern Interior today to reassure residents that the government will be there to help rebuild when the wildfire crisis has passed. Several large blazes are burning in the region, including the 110-square-kilometre McDougall Creek wildfire.
