'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
The Bank of Canada will study the most recent economic data to gauge whether to raise interest rates further, a deputy governor said on Thursday, adding it would still move forcefully if necessary.
The central bank on Wednesday hiked its benchmark overnight rate by half a percentage point to the highest level in almost 15 years and signalled its unprecedented tightening campaign was near its end.
"We expect our decisions will be more data-dependent," Deputy Governor Sharon Kozicki said in a speech in Montreal, adding the bank was still prepared to be "forceful" with rates if necessary.
"We are moving from how much to raise interest rates to whether to raise interest rates."
The bank's next policy-setting meeting will be on Jan. 25.
Asked to clarify if being prepared to be "forceful" meant the bank was still prepared to make oversized rate moves, Kozicki said it was a hypothetical.
"If there were to be a really large shock, we would be prepared to act forcefully... to rein things in," she told reporters.
The central bank has lifted rates at a record pace of 400 basis points in nine months to 4.25 per cent - a level last seen in January 2008 - to fight inflation that is far above its target.
"With the labor market still tight and businesses still finding it easy to raise their prices, Governing Council agreed that the economy still needs a more sustained moderation of demand," Kozicki said.
On Wednesday, the bank cited still-strong growth and tight labor markets but eliminated the forward guidance it has used since it began cranking rates higher in March, dropping language that said they would have to rise further.
Inflation, which clocked in at 6.9 per cent in October, "remains too high" at more than three times the bank's 2 per cent target, Kozicki said. But three-month rates of core inflation have declined to about 3.5 per cent, Kozicki said, an indication "that momentum in inflation is easing."
"Overall, these comments don't change our tentative view that the Bank of Canada is ready to hit the pause button," said Royce Mendes, head of macro strategy at Desjardins Group.
Deliberations ahead of Wednesday's rate hike centered on how supply challenges are resolving, how higher rates are slowing demand, and how inflation and inflation expectations are evolving, Kozicki said.
"The fact that inflation is high, the fact that expected inflation is high, is... for us a reason to be taking the exact decision that we did take with 50 basis points" on Wednesday, Kozicki said.
While third-quarter growth remained strong, softening demand in interest-rate sensitive areas like housing activity are signs that tighter monetary policy is "working to rebalance supply and demand," she said.
Kozicki reiterated that starting next year, the bank will release a "summary of deliberations" in an effort to provide more transparency.
(Additional reporting by Fergal Smith in Toronto; Editing by Deepa Babington and John Stonestreet)
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
The World Health Organization is likely to issue a wider warning about contaminated Johnson and Johnson-made children's cough syrup found in Nigeria last week, it said in an email.
Police have released video footage of a dramatic takedown of a group of teens wanted in connection with an attempted carjacking in Markham earlier this month.
Canada called for 'all parties' to de-escalate rising tensions in the Mideast following an apparent Israeli drone attack against Iran overnight.
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
The World Health Organization and around 500 experts have agreed for the first time on what it means for a disease to spread through the air, in a bid to avoid the confusion early in the COVID-19 pandemic that some scientists have said cost lives.
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Molly Knight, a grade four student in Nova Scotia, noticed her school library did not have many books on female athletes, so she started her own book drive in hopes of changing that.
Almost 7,000 bars of pure gold were stolen from Pearson International Airport exactly one year ago during an elaborate heist, but so far only a tiny fraction of that stolen loot has been found.
When Les Robertson was walking home from the gym in North Vancouver's Lower Lonsdale neighbourhood three weeks ago, he did a double take. Standing near a burrow it had dug in a vacant lot near East 1st Street and St. Georges Avenue was a yellow-bellied marmot.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return, after what officials described as an 'astonishing' six-day journey.
Just steps from Parliament Hill is a barber shop that for the last 100 years has catered to everyone from prime ministers to tourists.
A high score on a Foo Fighters pinball machine has Edmonton player Dave Formenti on a high.
A compound used to treat sour gas that's been linked to fertility issues in cattle has been found throughout groundwater in the Prairies, according to a new study.