Bank of Canada ends pause on hikes, raises policy rate by 25 basis points
The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent on Wednesday, its first increase since pausing hikes in January.
5 things to know for Monday, March 20, 2023
A woman is suing Tim Hortons after suffering major burns from allegedly "superheated" tea, the body of one victim has been found while six remain missing at the site of a fire in Old Montreal, and Pierre Poilievre calls for national standardized tests to licence doctors trained outside Canada. Here's what you need to know to start your day.
1. 'Superheated' tea: An Ontario woman and her family have launched a civil lawsuit seeking $500,000 in damages from Tim Hortons after she allegedly suffered second-degree burns across her stomach, genitals, and legs from a “superheated" tea.
2. Victim's body found: One person has been confirmed dead and six people remain missing as police continue to search for victims after a fire swept through a building in Old Montreal.
3. Doctor shortage: Conservative Leader Pierre Poilievre is calling for a national standardized testing process to be created in order to speed up the licensing process for doctors and nurses who are either immigrants or were trained abroad.
4. Market reaction: Shares of Credit Suisse plunged in early trading Monday after the announcement that banking giant UBS would buy its troubled rival in a deal orchestrated by regulators to stave off further market-shaking turmoil in the global banking system.
5. 'Good old friend': Chinese leader Xi Jinping meets with Vladimir Putin Monday, in a political boost for the isolated Russian president after the International Criminal Court charged him with war crimes in Ukraine.
One more thing…
Germs: Trails of human bacteria from sneezing and coughing have been preserved on Mount Everest, a study has found.
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