B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
The Bank of Canada will likely need to keep interest rates at or above 4 per cent for most of 2023 to cool an overheated economy and tame high inflation, the International Monetary Fund (IMF) said in a report.
The central bank's benchmark overnight interest rate currently stands at a nearly 15-year high of 4.25 per cent after a 50 basis point hike announced on Wednesday.
The IMF, in its annual review of Canada's economy released late Thursday, said "the key immediate priority is to bring inflation down without triggering a recession," and that it welcomed the Bank of Canada's "decisive policy tightening."
The bank has raised rates at a record pace of 400 basis points in nine months to fight inflation that is far above its target. Money markets expect the policy rate to peak at 4.36 per cent in June and end 2023 at about 4.10 per cent.
Inflation has been edging down after surging to a four-decade high in June, but is still more than three times the central bank's 2 per cent target.
The IMF said inflation should continue declining and return to the 2 per cent target by end-2024, while economic growth was set to slow to 3.3 per cent in 2022 and 1.5 per cent next year.
Slowing growth should also push unemployment to rise moderately and reach the pre-pandemic level of around 6 per cent by next year, IMF added.
The projections are largely in line with the Bank of Canada's forecast of growth declining to just under 1 per cent in 2023 and inflation returning to 2 per cent in 2024.
"Important risks, however, surround the baseline forecast, and shocks could easily push the economy into a mild recession," the IMF said.
(Reporting by Ismail Shakil in Ottawa; Editing by Mark Potter)
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
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.