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.
Environment Canada confirms what it calls a "tornado outbreak" in rural Alberta earlier this week. It says between 2:30 p.m. and 7:30 p.m. on Wednesday, nine twisters hopscotched between Calgary and Medicine Hat and another was spotted near Vermillion in eastern Alberta.
The B.C. government recommended in April that Surrey continue its transition to the independent Surrey Police Service, offering $150 million over five years to help the city cover costs, but saying it would not pay the estimated $72 million in severance for officers if council decided to revert back to the RCMP.
Rain and cooler weather over much of British Columbia has prompted two fire centres in the southern and central Interior to roll back campfire bans. The Kamloops and Cariboo fire centres say the Category 1 open fire ban will lift at noon Friday, covering blazes no larger than 1.5-metres high by 1.5-metres wide.
Kelowna R-C-M-P say the 17-year-old driver was caught on the morning of June 14 travelling at 115 kilometres in a grey Volkswagen Jetta. Police say they pulled the driver over and issued him a three-hundred-68-dollar fine, while also impounding his car.
Richmond R-C-M-P say the incident happened on June 7th just before midnight, when the victim got off a bus and was about to cross King Road. Police say the male suspect then grabbed the woman from behind and brandished a knife, according to the victim.
Thanks to recent rain and favourable winds, Tumbler Ridge's roughly 2,000 residents were allowed to return home Thursday when the evacuation order was lifted. There was also good news in Alberta, where an evacuation order was being lifted in the town of Edson, allowing more than 8,000 people to return home.
