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.
Homicide detectives have been called in to investigate after a man's body was found inside a home in New Westminster. Police say officers were sent to the home last night to carry out a well-being check.
The wildfire service is reporting about 375 fires around B.C., with about 11 recorded since midday Sunday and another 11 still ranked as fires of note, meaning they are highly visible or threaten people or property.
The inaugural sailings for a passenger ferry between downtown Vancouver and Nanaimo, B.C., were cancelled Monday because of a power outage. A statement on the Hullo ferry website says the loss of power to the berth and vessels affected the assessments of its systems and the safety and reliability of its operations.
The call comes as a heat wave blankets much of the province, raising memories of the deadly 2021 heat dome event. It isn't expected to get as hot this week, but the advocates say municipalities need to ensure that tenants don't face deadly risks of overheating in their homes.
Experts say the national housing crisis is becoming a political threat for the Liberal government, with voters likely to look elsewhere if drastic action isn't taken soon. Prime Minister Justin Trudeau came under heat recently for saying the federal government wasn't primarily responsible for housing, though it can and will help with the crisis.
The Canada Border Services Agency says officers discovered two live tarantulas hidden inside plastic containers at the Edmonton International Airport earlier this year. In May, officers saw irregularities in a small package from Hong Kong and found a male tarantula hidden inside a plastic container.
