Norovirus spreading at 'higher frequency' than expected in Canada
Norovirus is spreading at a 'higher frequency' than expected in Canada, specifically, in Ontario and Alberta, according to the Public Health Agency of Canada.
New Zealand's central bank raised its benchmark interest rate by a half-point Wednesday to 4.75% as it continues trying to wrestle down inflation.
The increase, which can raise the borrowing costs for consumers on everything from credit cards to mortgages, comes despite the economic pain that a devastating cyclone is already inflicting on many people. The bank said that over time, the cyclone rebuild will only add to inflationary pressures.
Cyclone Gabrielle hit New Zealand last week, killing 11 people and causing billions of dollars in damage to homes and infrastructure.
Reserve Bank Governor Adrian Orr said the committee that makes interest rate decisions agreed the rate needed to increase to ensure that inflation returned to the bank's target of around 2% from its current level of 7.2%.
Orr said that while there were some early signs price pressures are easing, core inflation remained too high and employment was at its maximum sustainable level, with the unemployment rate at a low 3.4%.
"Cyclone Gabrielle and other recent severe weather events have had a devastating effect on the lives of many New Zealanders," Orr said. "It is too early to accurately assess the monetary policy implications of these weather events, given that the scale of destruction and economic disruption are only now becoming evident."
Orr said the committee believes that the disaster is likely to increase prices for some goods over the coming weeks, while having a negative impact on economic activity and exports. He noted that the government had yet to determine the scale and timing of its economic response to the cyclone.
The 0.5% rate rise comes after a record 0.75% hike in November. At 4.75%, the official cash rate is at the highest level it has been since early 2009, soon after the global financial crisis.
The rate increase was in line with market expectations, and the currency was little changed, with 1 New Zealand dollar trading at about US$0.62.
New Zealand's key interest rate is now similar to the U.S. rate of 4.5% to 4.75% but is higher than in many other developed nations including neighboring Australia, where the rate is 3.35%.
Norovirus is spreading at a 'higher frequency' than expected in Canada, specifically, in Ontario and Alberta, according to the Public Health Agency of Canada.
The same storm system that brought deadly tornadoes to parts of the U.S. is heading north, hammering some Canadian provinces with rain and snow, according to latest forecasts.
A boycott targeting Loblaw is gaining momentum online, with what could be thousands of shoppers taking their money elsewhere in May.
Jim Arner was always interested in genealogy and discovering more about his ancestry. But after submitting his own DNA test, he learned an old work colleague was actually a distant cousin.
French actor Gérard Depardieu has been taken into police custody in Paris to face questioning, his lawyer told CNN Monday.
Three women diagnosed with HIV after getting 'vampire facial' procedures at an unlicensed medical spa are believed to be the first documented cases of people contracting the virus through a cosmetic procedure using needles.
On a three-lane test track along the Monongahela River, an 18-wheel tractor-trailer rounded a curve. No one was on board.
Health Minister Mark Holland says while he is 'deeply appreciative' of the work doctors in Canada do, the federal government has no plans to scrap the proposed capital gains tax changes outlined in the latest budget, despite opposition from the Canadian Medical Association.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
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.