'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 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)
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
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.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
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.
Several Nova Scotia groups that assist women are speaking out against comments on domestic violence by Justice Minister Brad Johns, and at least one is calling for his dismissal.
Every good wedding has to have one teensy, tiny crisis.
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.
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.