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.
The BC Maritime Employers Association said Friday the agreement to be presented to workers is the same one the union's caucus rejected just days ago. In a statement, the association said the deal is the proposal reached with a federal mediator and was originally agreed to by both sides on July 13.
Prince George Mounties say they've made an arrest in a suspicious death of a woman found on Tuesday. Mounties say a 22-year-old woman died during a home invasion which they believe was a targeted incident.
The fireworks competition gets underway tomorrow with road closures expected as a result in the West End and neighbouring Kits Point. Tomorrow night's competition will see fireworks displays from a team from Australia.
Mounties say the male suspect brandished a handgun during the robbery then quickly fled the area before officers arrived. Officers say they are actively searching for the suspect described as wearing a blue mask, blue jacket with brown hair and a slim build, clad in a Reebok hoodie that was blue on top and black at the bottom.
Nelson saw the temperature hit 38.2 Celsius yesterday, breaking a record set back in 1938. Elsewhere, temperature records were set in McKenzie, Nakusp, Richmond and Smithers. Heat warnings are in place for the Okanagan, Thompson and Boundary regions.
Police in Nanaimo say a 24-year-old man has died of his injuries after a crash with a suspected impaired driver. Nanaimo R-C-M-P say the crash happened around 10 p-m on Wednesday, and the other driver remains in hospital.
