The Bank of Canada is keeping its key interest rate at five per cent because higher interest rates are clearly restraining spending. The central bank says the combination of weaker growth and a cooling job market suggests demand is no longer outpacing supply in the economy and that this slowdown is necessary to restore price stability. However, the Bank of Canada isn't ruling out future rate hikes just yet, saying it is still concerned about risks to the outlook for inflation and remains prepared to raise rates further if needed

Health Canada has authorized an updated COVID-19 vaccine from Novavax that targets the XBB.1.5 variant. The new vaccine is called Nuvaxovid and is approved for people 12 years of age and over. Nuvaxovid is a protein subunit vaccine, meaning it contains harmless pieces of virus. The other two XBB vaccines currently authorized in Canada are mRNA vaccines, manufactured by Pfizer-BioNTech and Moderna. The mRNA options remain the only XBB vaccines approved for children under 12. The National Advisory Committee on Immunization recommends that everyone six months of age and older get the XBB.1.5 vacc

Parts of southwestern British Columbia remain under a rainfall warning as a potent atmospheric river made landfall along the province's coast Monday, bringing ample rain and high winds while disrupting roads and utilities. Environment Canada says the weather system brought as much as 132 millimetres of rain in the last 24 hours, reported at the Kennedy Lake on Vancouver Island.The highest precipitation recorded in the Lower Mainland and southwestern B.C. was in Port Mellon on the Sunshine Coast with 102 millimetres, followed by Mission, Porteau Cove and Pitt Meadows with 97, 91 and 90 millimet

To overcome the housing crisis in Canada, the government may relax immigration for skilled workers.Housing Minister Sean Fraser said Tuesday that Canada is going to face troubles getting homes built if it doesn’t address the severe labour shortage facing the construction industry. He said there needs to be a focus on training and attracting workers.The Housing Minister said he is working with Minister Miller on immigration to bring in skilled workers who are hard to find in Canada in the short term to build homes. Sean Fraser also announced that the federal government will invest $71 million

House of Commons Speaker Greg Fergus is apologizing after a video message he recorded in thanks of the departing interim leader of the Ontario Liberal party, John Fraser, was played at the party's leadership convention. Now he's facing calls to step down from the Bloc Quebecois and Conservatives. His apology came after Conservative House leader Andrew Scheer gave notice that he planned to raise a question of privilege, given the Speaker is supposed to play an explicitly non-partisan role At Queen's Park on Monday, Fraser defended the message as personal and non-partisan. Fergus also defe

The Royal Bank of Canada is facing a 7.4-million-dollar penalty for non-compliance with anti-money laundering and terrorist financing measures. The Financial Transactions and Reports Analysis Centre of Canada handed down the penalty, saying the R-B-C's violations include failing to submit suspicious transaction reports where there were reasonable grounds to suspect ties to money laundering. Fintrac tries to pinpoint money linked to illegal activities by electronically sifting through millions of pieces of information each year from banks, insurance companies, money service businesses and o

Less snowfall in Edmonton in November saved the city $5 million in snow removal costs. According to experts, November this year has seen less snow and it has been the hottest and driest month.This has also reduced road maintenance work, with 15,000 potholes repaired till last week compared to 6,20,000 potholes during the same period last year. Also, crew workers cleared 3,000 bags of garbage and 60,000 kg of waste from an empty homeless camp last year. City snow-and-ice removal work usually includes some contracted services, which have yet to be called upon this season, leading to savings. Acc

New report from Statistics Canada suggests the problem of sexual misconduct in the military is getting worse. The survey suggests 3.5 per cent of Canadian Armed Forces personnel say they were sexually assaulted by another military member in 2022. That is a significant increase from the 1.6 per cent reported in the same survey in 2018, and 1.7 per cent in 2016. Statistics Canada defines sexual assault as sexual attacks, unwanted touching, and sexual activity when the victim was unable to consent. Victims of these assaults were more likely to be women, the survey found, and they were disproporti

Angus Reid conducted a survey on the performance of Canadian premiers. According to this survey, Newly minted Manitoba Premier Wab Kinew tops the poll with an approval rating of 57 per cent and is Canada's most popular premier. BC Premier David Eb is sixth in a survey of 9 premiers. His approval rating has been recorded at 46%. Currently, Quebec's Francois Legault is ending the year as the country's most unpopular premier, with an approval rating of just 31 per cent. The Angus Reid poll suggests New Brunswick Premier Blaine Higgs is in eighth place, with a 33 per cent approval rating. Prince