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 central bank says it raised the rate because of elevated demand in the economy and strong underlying inflation pressures. It is now suggesting it will take longer -- until the middle of 2025 -- to get inflation back to the two per cent target.
The Combined Forces Special Enforcement Unit says that although a fully functional firearm cannot be printed, conversion kits that complete 3-D guns can be bought in stores or online. It says anyone with a 3-D printer for their kids or for schools should be aware of the risks.
About 7,400 members of the International Longshore and Warehouse Union Canada in Vancouver have been on strike since July 1. They say they're fighting for protections against contracting out work and automation, as well as pushing for higher wages. The strike, now in its second week, is starting to hit business operations in Canada.
Wildfire crews and local governments are keeping a close watch on drought-stricken woodlands across B-C, as more lightning is forecast in many areas. The wildfire service says 318 active fires are currently burning -- most of them in the Northwest and Prince George fire districts where thousands of lightning strikes hit during a recent storm.
Improving health care is not just a matter of money and transfers from Ottawa to the provinces, Alberta Premier Danielle Smith said Tuesday. Health care is one of the main topics at the three-day meeting this week. The premiers also met with health worker representatives.
Police in Surrey, B.C., are appealing for public help to find a puppy that was stolen during an alleged home invasion robbery. They say the six-month-old female miniature pinscher and Shih Tzu cross named Lil Bit was snatched when two people forced their way into a home on 147A Street last month and made off with the residents' belongings.
