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.
At least 20 Surrey residents spent the night out of their homes -- and some could be out for much longer -- after flames tore through a housing complex in that city's Clayton neighbourhood. Surrey Fire Service deputy chief Shelley Morris says four homes have been destroyed and as many as four more are damaged after flames from a garage fire spread quickly.
The PMO is not specifying where they will be staying, but says they are set to return to Ottawa on Aug. 18. Trudeau and his wife of 18 years, Sophie Grégoire Trudeau, announced last week that they are separating but that they still plan to spend time together as a family
A statement from the air carrier said the most recent scheduled flight from Maui to Vancouver was cancelled as access to the airport was closed. It also said a larger, and empty, plane lifted off from Vancouver Wednesday evening, bound for the island, to pick up the stranded passengers and those booked on the next regularly scheduled flight.
In 1962, then-prime minister John Diefenbaker visited Hugh Segal's school in Montreal to present the principal with a copy of the newly minted Canadian Bill of Rights. So impressed was Segal with Dief's description of Canada as a country that was open, free, democratic and based on the presumption of innocence that, at the tender age of 12, he became a lifelong Conservative.
Wildfire crews across British Columbia are keeping a close eye on the backcountry after recent lightning storms raised the potential for smouldering fires to erupt as the next hot spell arrives this weekend.
Environment Minister Steven Guilbeault released draft regulations Thursday that are designed to clean Canada's electricity grid in an affordable way by 2035. The regulations would drive up the cost of energy slightly, but federal officials say that would be offset by the savings expected to come from moving away from fossil fuels.
