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.
R-C-M-P say a head-on crash involving two vehicles shut down Highway 3 east of Creston for several hours and sent a number of people to hospital. The Mounties say the crash happened around 9:30 yesterday morning, when an S-U-V crossed the centre line and hit a pickup truck.
B.C. farmers say they're increasingly concerned about climate change and the impacts of extreme weather on food production in the province. Because of its warm climate, B.C. has a unique agriculture industry.
Persistent heat is expected to continue today in parts of British Columbia as the province continues to battle almost 400 active wildfires. Environment Canada says several communities in northern B.C. are facing heat warnings, with daily high temperatures predicted to reach in excess of 30 degrees.
The Mounties say officers received a report yesterday morning from the Surrey Fire Department about the sudden death of a man inside a home. They say police responding to the call found a 57-year-old man dead and arrested a 42-year-old man at the scene.
A 10-year-old boy is in hospital with potentially life-threatening injuries after being hit by two cars while riding his bike in Nanaimo. Mounties say the initial investigation shows the boy was riding his bike down a steep driveway near Nova Street when he suddenly rode onto Howard Avenue, where he was struck by a southbound vehicle, followed by another collision with a northbound vehicle.
The chief of a small rural fire department in B.C.'s Okanagan region says 13 members of his own crew have lost their homes while fighting wildfires this season. Wilson's Landing Fire Chief Paul Zydowicz says wildfires burning on the west side of Okanagan Lake have been a "nightmare" due their speed and intensity.
