The Bank of Canada is set to announce its interest rate decision this morning. Economists widely expect the central bank to maintain its key interest rate at five per cent, despite signs inflation is cooling. Canada's inflation rate dropped to 2.9 per cent in January as price pressures eased across the economy. The Bank of Canada has signalled it wants to see sustained declines in inflation before pivoting to rate cuts. Forecasters expect the central bank to begin lowering interest rates around the middle of the year. The slowdown in the Canadian economy is expected to pave the way to lower in

U.S. authorities continue to investigate a plane crash in Tennessee that killed five Canadians. A single-engine plane crashed alongside a highway west of downtown Nashville on Monday, killing all five people aboard. Investigator Aaron McCarter of the National Transportation Safety Board says the flight originated in Ontario and three of the passengers were children. In a recording of radio transmissions, the pilot tells air traffic controllers that his engine has shut down, he has overflown John C. Tune airport and has circled around in an attempt to land. A runway is cleared at the airport, b

British Columbia's government says it is setting 10-year targets to substantially reduce poverty in the province, with a focus on lifting children and seniors above the poverty line. Sheila Malcolmson, social development and poverty reduction minister, says legislation introduced today changes three laws to set higher targets to cut poverty, ease employment requirements for people on income and disability assistance and provide more supports. She says the legislation commits B.C. to cut overall poverty by 60 per cent over the next decade, including reducing child poverty by 75 per cent, and fo

Ronald McHaffie said he had big plans to build a ski resort near Hope, 150 km east of Vancouver, ahead of the 2010 Olympics. He cut an unlikely figure, with a Grizzly Adams beard and no history of resort development. Yet the Bigfoot Ski Resort's website was full of promises world-class skiing, a golf course, a fishing lodge and an "antique train" carrying guests around the facility. The website, which now exists in archived form, purported to show endorsements from all three levels of government, and a range of permits. McHaffie gathered $642,000 from dozens of investors, telling them construc

British Columbia's longtime Environment Minister George Heyman says he's decided not to run in this fall's provincial election. Seventy-four-year-old Heyman says in a social media post that serving the people of his Vancouver-Fairview riding since 2013 has been a great honour, but he won't seek re-election in October. He says he will endorse former Vancouver city councillor Andrea Reimer to seek the NDP nomination in his riding. Heyman is a three-term member of the legislature who introduced the NDP government's Clean BC climate and economic plan to reduce carbon emissions while developing a g

The parliamentary budget officer is projecting inflation will return to the Bank of Canada's two per cent target by the end of the year and the federal deficit will grow amid weakening economic conditions. The budget watchdog released the latest economic and fiscal outlook today. The report predicts the central bank could begin cutting interest rates in April, given the expectation that inflation will fall back to target by the end of 2024. The PBO also anticipates the federal budget to grow to $46.8 billion for current fiscal year, which would exceed the government's fall projection of $40 bi

Police in Port Moody, B.C., say a man may be charged after he allegedly drove his vehicle into the sea as part of a livestreamed video. Const. Sam Zacharias says in a release that officers were called to the Rocky Point boat launch in the city at around 10 p.m. Monday. Zacharias says a call to police reported that a man was allegedly driving his vehicle into Burrard Inlet at the boat launch because he was being paid to do so as part of a video livestream. Police say they arrested the driver at the scene upon arrival, and the man has been released with criminal charges such as mischief and dang

Indian Prime Minister Narendra Modi has congratulated Shahbaz Sharif, who became the Prime Minister of Pakistan for the second time. Shahbaz Sharif was sworn in as the Prime Minister of Pakistan on Monday. He has taken the reins of the country for the second time after 2022. Modi said in a social media post on Tuesday that 'Congratulations to Shahbaz Sharif on becoming the Prime Minister of Pakistan. Earlier he congratulated Imran Khan in August 2018 and Shahbaz Sharif on becoming the Prime Minister for the first time in April 2022. congratulated In May 2014, Prime Minister Narendra Modi had

Former Prime Minister of Canada Brian Mulroney's funeral will be held on March 23 in Montreal. Prime Minister Justin Trudeau gave this information in a release today. Mulroney was the 18th Prime Minister of Canada. He breathed his last at the age of 84 on february 29 in a hospital in Florida. He served as Prime Minister of Canada from 1984 to 1993. He is credited with free trade deals with the US and Mexico. The Mulroney government signed the North American Free Trade Agreement in 1992. Air Canada was also privatized during his government. One of the most controversial moves of his governmen