BREAKING Bob Cole, veteran CBC broadcaster and former voice of 'Hockey Night in Canada,' dead at 90
Bob Cole, legendary CBC broadcaster and former voice of Hockey Night in Canada, has died. He was 90.
There will be "people on the street" globally unless steps are taken to protect the most vulnerable from inflation, International Monetary Fund's (IMF) chief Kristalina Georgieva warned on Wednesday.
"It is important to think that this compounded impact of multiple crises is already testing the patience and resilience of people. And if you don't take action to support the most vulnerable, there would be consequences," she told CNN's Christiane Amanpour.
"If we don't bring inflation down, this will hurt the most vulnerable, because an explosion of food and energy prices for those that are better off is inconvenience — for the poor people, tragedy. So we think of poor people first when we advocate for attacking inflation forcefully," Georgieva said.
Central banks around the world have "no choice" but to increase interest rates in an effort to combat inflation, she added.
"Fiscal policy, if it goes generously to help everybody, will be actually in the way of monetary policy, it would be the enemy of monetary policy, because you increase demand and that pushes prices again up, and then there has to be more tightening," the IMF chief said. "The critical question in front of us is to restore conditions for growth, and price stability is a critical condition," she added.
Events that have driven price increases — mainly the Omicron variant of COVID-19 and Russia's invasion of Ukraine — have "made inflation today our biggest enemy," the IMF chief told Amanpour.
"This year is tough, next year tougher. Why? Because of a shock upon shock upon shock. In just a short three years: the pandemic (not yet over), the war, Russia's invasion pushing energy and food prices up, and then the result is a cost of living crisis," she told CNN.
When asked about a rise in support for far-right candidates in the likes of Italy and Sweden, Georgieva said that she is "not surprised to see people getting angry. They have been locked in their houses for months and months and months. They see prices jumping up dramatically. And this is why my appeal to policymakers is 'be considerate.'"
The IMF chief told Amanpour that events that have driven price increases — mainly the Omicron variant of Covid-19 and Russia's invasion of Ukraine — have "made inflation today our biggest enemy."
There will be "people on the street," she said. "If we are not able to protect the sense of survival and the sense of solidarity, this is what is going to happen."
Bob Cole, legendary CBC broadcaster and former voice of Hockey Night in Canada, has died. He was 90.
New York's highest court on Thursday overturned Harvey Weinstein's 2020 rape conviction, reversing a landmark ruling of the #MeToo era in determining the trial judge improperly allowed women to testify about allegations against the ex-movie mogul that weren't part of the case.
Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.
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 that is banned at Queen’s Park.
Researchers are working to better understand if some Canadian military veterans may be suffering from Chronic Traumatic Encephalopathy, also known as CTE -- a disorder previously found in the brains of professional football and hockey players after their death.
Residents of John D'Or Prairie, a community on the Little Red River Cree Nation in northern Alberta, were told to take shelter Thursday morning during a police operation.
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
The first cargo ship passed through a newly opened deep-water channel in Baltimore on Thursday after being stuck in the harbor since the Francis Scott Key Bridge collapsed four weeks ago, halting most maritime traffic through the city's port.
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.