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.
RCMP have posted on social media that they are on the scene of a very serious collision near the intersection of Highway 1 and Highway 5. The STARS air ambulance service says it has been dispatched to the scene.
Canada Mortgage and Housing Corporation says housing starts in Vancouver tumbled 45 per cent in May. The drop covered all types of projects -- from apartments and condos to other kinds of multi-unit developments -- and the trend was reflected in Montreal, where starts were off 35 per cent, and in Toronto, where starts fell 28 per cent.
Ottawa released a statement Wednesday confirming that it was going ahead with the expropriations without the consent of all affected land owners. Federal Transport Minister Omar Alghabra and Procurement Minister Helena Jaczek say in the release that the federal government will take physical possession of the parcels of land required for the project on Aug. 1.
Ottawa is also adding $13 million to its funding for law enforcement, as Canada and the U.S. focus on shoring up the work of the Haitian National Police as they try to stop gangs from committing brazen acts of violence and controlling critical infrastructure.
A man is suing a fast-food restaurant in B-C after allegedly finding a metal bolt in his meal. Court documents say carpenter Roman Chromy was eating at a New Westminster McDonald's where he bought the allegedly contaminated food.
A B-C man has been found guilty of sexual assault stemming from an attack in Metro Vancouver in early 2022. North Vancouver R-C-M-P say Mission resident Jairus-Paul Sacramento is to be sentenced in court at a later date.
