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.
Beijing and Ottawa are in talks over how to increase flights between China and Canada, following an American deal in June. Transport Canada says the weekly number of flights between the two countries has dropped drastically, from more than one hundred per week in the summer of 2019 to just 10 this season.
Prime Minister Justin Trudeau is in the Okanagan in the BC Interior to meet with firefighters, volunteers, and officials involved in the region's wildfire fight. Trudeau's visit comes after the last travel restriction of the Okanagan was lifted, alongside all previous evacuation orders within the city of Kelowna, with wildfires diminishing since after recent rainfall.
A 36-year-old man is in custody after an alleged home invasion in Fort Nelson left a homeowner with serious but non-life-threatening injuries. Mounties say they received reports of the incident on Wednesday night, when the attacker reportedly entered a home on Boundary Road and took keys from a rack.
Coquitlam R-C-M-P say they are looking for additional victims and video evidence after a man damaged a number of parked vehicles in the Maillardville neighbourhood. Police say the male suspect was arrested Tuesday night after reports surfaced of someone damaging parked cars between 10 p-m and 11:30 p-m.
Protesters have tried to bypass an RCMP blockade on the Trans-Canada Highway in British Columbia's Shuswap region, amid tensions over the refusal of some residents to obey wildfire evacuation orders. Live social media videos of the incident posted Wednesday evening show about 20 protesters confronting a blockade of police cars near the lakeside community of Sorrento.
A Coquitlam man has been sentenced to 13 months in jail after being convicted of child pornography charges. Police say 39-year-old Christopher Thomas Smith was convicted earlier this week for publishing, distributing and possessing the material.
