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.
Lawn watering was prohibited in Metro Vancouver's 23 local authority regions on Aug. 4, with the ban in place until Oct.15. Some homeowners are looking for alternatives including spray-painting or artificial turf, but others are embracing the golden look.
BC's police watchdog is investigating the death of a man who was shot by an officer in Revelstoke. R-C-M-P say it happened Sunday night after they responded to a call about a stolen vehicle.
The BC Centre for Disease Control has detected Canada's first known case of a new COVID-19 variant that has swiftly circled the globe and is being monitored by the World Health Organization. The centre said the BA. 2.86 variant of the Omicron strain was identified in a person from the Fraser Health region who hadn't recently been outside the province.
The P-N-E Amphitheatre is shutting its doors after almost 60 years in operation, making way for the construction of a new facility scheduled to open in 2026. A statement from the Pacific National Exhibition says the last show at the venue will be a Blue Rodeo concert on Labour Day, with one show scheduled for each night this week leading up to September 4.
The B-C Real Estate Association says residential property prices in the province have risen despite a drop in sales this year, owing to low inventory on the market. The B-C-R-E-A says in its third quarter forecast that home sales in the province through Multiple Listing Service are expected to fall by 2.8 per cent this year to just over 78-thousand units.
British Columbia is on pace for the deadliest year in its unregulated toxic-drug crisis, with the BC Coroners Service saying another 198 deaths were reported in July. It says there have been at least 1,455 deaths in the first seven months of 2023, the most ever recorded.
