⚡️Bank of Canada Raises Rates to 4.50%
The Bank of Canada raised interest rates on Wednesday by a quarter point and said it would now pause to assess the economic impact from sharply higher borrowing costs.
@maplechronicles
The Bank of Canada raised interest rates on Wednesday by a quarter point and said it would now pause to assess the economic impact from sharply higher borrowing costs.
@maplechronicles
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Bank of Canada predicts further dip in home prices after delivering quarter-point rate hike
The Bank of Canada is predicting home prices will decline further after it raised interest rates Wednesday for the eighth consecutive time, but it expects sales activity to pick up later in the year.
The typical home price across the country is already down 13 per cent from its peak last February amid the bank’s attempts to rein in runaway inflation by reducing access to cheap loans.
Now, with mortgage rates at their highest levels in years, many would-be buyers have been shut out of the real estate market. Those areas include the Toronto suburbs, smaller Ontario cities and the Chilliwack region of B.C., where home prices jumped more than 50 per cent over the first two years of the pandemic, when the central bank’s overnight rate was near zero. Home prices in some of those markets have fallen more than 20 per cent over the past 10 months.
@maplechronicles
The Bank of Canada is predicting home prices will decline further after it raised interest rates Wednesday for the eighth consecutive time, but it expects sales activity to pick up later in the year.
The typical home price across the country is already down 13 per cent from its peak last February amid the bank’s attempts to rein in runaway inflation by reducing access to cheap loans.
Now, with mortgage rates at their highest levels in years, many would-be buyers have been shut out of the real estate market. Those areas include the Toronto suburbs, smaller Ontario cities and the Chilliwack region of B.C., where home prices jumped more than 50 per cent over the first two years of the pandemic, when the central bank’s overnight rate was near zero. Home prices in some of those markets have fallen more than 20 per cent over the past 10 months.
@maplechronicles
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Justin Trudeau swarmed by group of 'angry' protesters as he walked into Hamilton restaurant
The group of protesters can be heard screaming “tyrant” and “traitor,” while demanding Trudeau resign. Many of the protesters could be seen carrying Canadian flags.
The protesters also had an inflatable sheep, that appears to be wearing a mask, that says "99.8% survival rate," a reference to the COVID-19 pandemic.
When asked about the incident, Trudeau called a group of protesters a “handful of angry people.”
Trudeau is in Hamilton for a three-day retreat with his cabinet.
#Trudeau
@maplechronicles
The group of protesters can be heard screaming “tyrant” and “traitor,” while demanding Trudeau resign. Many of the protesters could be seen carrying Canadian flags.
The protesters also had an inflatable sheep, that appears to be wearing a mask, that says "99.8% survival rate," a reference to the COVID-19 pandemic.
When asked about the incident, Trudeau called a group of protesters a “handful of angry people.”
Trudeau is in Hamilton for a three-day retreat with his cabinet.
#Trudeau
@maplechronicles
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💵Canadians struggling to keep up with rising costs
Rising prices have affected nearly everyone across the country and some say they’ve now reached their breaking point. New data shows that over 50 per cent of Canadians are having trouble keeping up with inflation.
Findings of a recent Ipsos poll revealed that 32 per cent of people are struggling to continually meet rising costs of everyday essentials.
22 per cent of Canadians state that they’re completely out of money, saying that there is no way that they can pay any more for household expenses.
@maplechronicles
Rising prices have affected nearly everyone across the country and some say they’ve now reached their breaking point. New data shows that over 50 per cent of Canadians are having trouble keeping up with inflation.
Findings of a recent Ipsos poll revealed that 32 per cent of people are struggling to continually meet rising costs of everyday essentials.
22 per cent of Canadians state that they’re completely out of money, saying that there is no way that they can pay any more for household expenses.
@maplechronicles
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Forwarded from Song of Oil and LNG
🇨🇦Canadian oil flows to Asia surge after US refinery disruptions
Canadian crude shipments to Asia are set to surge to the highest in more than a year as US refinery outages force producers to find new outlets for their oil.
At least 7 million barrels of heavy-sour crude produced in Canada’s oil sands have been sold to Asian buyers for February loading. That’s the most since January 2022.
🛢Unipec, the trading arm of China’s biggest state-owned oil refiner Sinopec, will take 3 million barrels, while PetroChina Co. and Indian refiner Reliance Industries Ltd. will each receive 2 million. Another 1 million barrels was sold to Repsol SA for Europe, the people said.
The purchases come after fires at two US refineries forced them to halt production, eliminating outlets for Canadian oil.
#Canada #Asia #oil
@songofoil
Canadian crude shipments to Asia are set to surge to the highest in more than a year as US refinery outages force producers to find new outlets for their oil.
At least 7 million barrels of heavy-sour crude produced in Canada’s oil sands have been sold to Asian buyers for February loading. That’s the most since January 2022.
🛢Unipec, the trading arm of China’s biggest state-owned oil refiner Sinopec, will take 3 million barrels, while PetroChina Co. and Indian refiner Reliance Industries Ltd. will each receive 2 million. Another 1 million barrels was sold to Repsol SA for Europe, the people said.
The purchases come after fires at two US refineries forced them to halt production, eliminating outlets for Canadian oil.
#Canada #Asia #oil
@songofoil
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🚫More than 1,000 Canadians were affected by layoffs so far in 2023
It's been a rough start to 2023 for more than 1,000 Canadians affected by layoffs announced by Canadian and American companies this month. There have also been further unannounced layoffs reported by media.
Most of the announced cuts have been among tech companies and follow an earlier wave of downsizing and restructuring announcements in late 2022 by heavyweights such as Meta, Amazon and Lyft.
Among the companies, announcing mass layoffs in the beginning of 2023 are:
▫️Hudson's Bay Company
▫️Postmedia
▫️Salesforce
▫️Benevity
▫️Amazon
and others.
@maplechronicles
It's been a rough start to 2023 for more than 1,000 Canadians affected by layoffs announced by Canadian and American companies this month. There have also been further unannounced layoffs reported by media.
Most of the announced cuts have been among tech companies and follow an earlier wave of downsizing and restructuring announcements in late 2022 by heavyweights such as Meta, Amazon and Lyft.
Among the companies, announcing mass layoffs in the beginning of 2023 are:
▫️Hudson's Bay Company
▫️Postmedia
▫️Salesforce
▫️Benevity
▫️Amazon
and others.
@maplechronicles
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Canada falls from Freedom Index top 10 for first time since 2012
The 2022 edition of the Human Freedom Index lists Canada as the world’s 13th most free nation — down from No. 6 last year and the first time in over a decade that Canada didn’t make the top 10.
Strict COVID-19 lockdown measures were the largest reason for Canada's ranking drop, researchers say.
Switzerland was ranked the world’s freest country, with New Zealand, Estonia, Denmark and Ireland rounding out the top five.
@maplechronicles
The 2022 edition of the Human Freedom Index lists Canada as the world’s 13th most free nation — down from No. 6 last year and the first time in over a decade that Canada didn’t make the top 10.
Strict COVID-19 lockdown measures were the largest reason for Canada's ranking drop, researchers say.
Switzerland was ranked the world’s freest country, with New Zealand, Estonia, Denmark and Ireland rounding out the top five.
@maplechronicles
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Canadian PM names first anti-Islamophobia adviser
Canada appointed its first special representative on combatting Islamophobia, a position created following several recent attacks on Muslims in the country.
Journalist and activist Amira Elghawaby will fill the post to "serve as a champion, adviser, expert and representative to support and enhance the federal government's efforts in the fight against Islamophobia, systemic racism, racial discrimination and religious intolerance," a statement by the prime minister's office said.
@maplechronicles
Canada appointed its first special representative on combatting Islamophobia, a position created following several recent attacks on Muslims in the country.
Journalist and activist Amira Elghawaby will fill the post to "serve as a champion, adviser, expert and representative to support and enhance the federal government's efforts in the fight against Islamophobia, systemic racism, racial discrimination and religious intolerance," a statement by the prime minister's office said.
@maplechronicles
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Poilievre challenges Trudeau to fix 'broken' Canada or 'get out of the way'
During the 20-minute speech in both French and English, Poilievre repeated many of the shots he’s taken at Trudeau in recent months.
He covered a wide range of issues both broad and specific, such as immigration, government spending, inflation, crime, passports, and planes and trains.
He reiterated his claim that “everything feels broken” in Canada that earned him a stern rebuke from the Prime Minister in a speech last fall.
Poilievre told his MPs that a Conservative government would:
▪️cap government spending
▪️reduce “waste” within the bureaucracy
▪️fire the “high-priced consultants” who have raked in billions of dollars in additional federal contracts since Trudeau was first elected in 2015.
@maplechronicles
During the 20-minute speech in both French and English, Poilievre repeated many of the shots he’s taken at Trudeau in recent months.
He covered a wide range of issues both broad and specific, such as immigration, government spending, inflation, crime, passports, and planes and trains.
He reiterated his claim that “everything feels broken” in Canada that earned him a stern rebuke from the Prime Minister in a speech last fall.
Poilievre told his MPs that a Conservative government would:
▪️cap government spending
▪️reduce “waste” within the bureaucracy
▪️fire the “high-priced consultants” who have raked in billions of dollars in additional federal contracts since Trudeau was first elected in 2015.
@maplechronicles
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More than 30 people arrested in child porn crackdown in Quebec
The suspects, ages 37 to 79, have already appeared in court in their respective regions in the wake of an operation that involved more than 275 officers from the SQ, as well as the Montreal, Laval, Longueuil, Gatineau and Quebec City police departments.
Those arrested face charges including online luring of children, arranging to commit a sexual offence on a child, making sexually explicit material available to a child, sexual assault and possession and distribution of child pornography.
The arrests follow an investigation that began in the autumn of 2022.
#Quebec
@maplechronicles
The suspects, ages 37 to 79, have already appeared in court in their respective regions in the wake of an operation that involved more than 275 officers from the SQ, as well as the Montreal, Laval, Longueuil, Gatineau and Quebec City police departments.
Those arrested face charges including online luring of children, arranging to commit a sexual offence on a child, making sexually explicit material available to a child, sexual assault and possession and distribution of child pornography.
The arrests follow an investigation that began in the autumn of 2022.
#Quebec
@maplechronicles
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B.C. approves 2.5% Vancouver accommodation tax to help city pay to host FIFA World Cup
Starting Feb. 1, booking a room in a Vancouver hotel, Airbnb or vacation rental by owner (VRBO) will come with an additional 2.5 per cent tax as the city seeks to raise revenue to host the 2026 FIFA World Cup.
Major events tax will be in effect in Vancouver for 7 years to help city offset cost of hosting the games.
Vancouver and Toronto are among 16 North American host cities and will hold 10 of the event's 70 matches.
#BritishColumbia
@maplechronicles
Starting Feb. 1, booking a room in a Vancouver hotel, Airbnb or vacation rental by owner (VRBO) will come with an additional 2.5 per cent tax as the city seeks to raise revenue to host the 2026 FIFA World Cup.
Major events tax will be in effect in Vancouver for 7 years to help city offset cost of hosting the games.
Vancouver and Toronto are among 16 North American host cities and will hold 10 of the event's 70 matches.
#BritishColumbia
@maplechronicles
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🇳🇬Over 28,000 Nigerians secured Canadian permanent residency in seven years
At least 28,358 Nigerians received invitations to apply for Canadian permanent residency from 2015 to 2021.
According to the report, Nigeria rose from seventh to the second most common country of citizenship of applicants who received an ITA from the Canadian authority in the four years spanning 2015 to 2019.
Within that period, the number of Nigerians who received ITAs rose by a whopping 889 per cent.
@maplechronicles
At least 28,358 Nigerians received invitations to apply for Canadian permanent residency from 2015 to 2021.
According to the report, Nigeria rose from seventh to the second most common country of citizenship of applicants who received an ITA from the Canadian authority in the four years spanning 2015 to 2019.
Within that period, the number of Nigerians who received ITAs rose by a whopping 889 per cent.
@maplechronicles
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The real newcomer numbers
The federal government has been touting the record numbers of immigrants arriving in Canada, but the over 431,000 it cites is in fact less than half the number of newcomers who came to the country last year.
Once combined with non-permanent residents, the number of newcomers in 2022 amounted to an estimated 955,000, which represents “an unprecedented swing in housing demand in a single year that is currently not fully reflected in official figures,” according to a Jan. 25 CIBC report.
The number of new international arrivals in 2023 could reach a million.
@maplechronicles
The federal government has been touting the record numbers of immigrants arriving in Canada, but the over 431,000 it cites is in fact less than half the number of newcomers who came to the country last year.
Once combined with non-permanent residents, the number of newcomers in 2022 amounted to an estimated 955,000, which represents “an unprecedented swing in housing demand in a single year that is currently not fully reflected in official figures,” according to a Jan. 25 CIBC report.
The number of new international arrivals in 2023 could reach a million.
@maplechronicles
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Forwarded from Topic du jour
🇨🇦Canadian theater sparks outrage after announcing black-only performances
A taxpayer-funded Canadian theater organization has sparked outrage after announcing an event that will only allow “Black-identifying audiences” to attend.
The National Arts Centre in Ottawa is putting on a “Black Out” night at its Babs Asper Theatre on Feb. 17 — the middle of Black History Month — for the performance of “Is God Is,” a play written by and starring Black women.
“A Black Out is an open invitation to Black-identifying audiences to come and experience performances with their community,” the theater announced earlier this month.
“The evenings will provide a dedicated space for Black theatregoers to witness a show that reflects the vivid kaleidoscope that is the Black experience.”
@topicdujour
A taxpayer-funded Canadian theater organization has sparked outrage after announcing an event that will only allow “Black-identifying audiences” to attend.
The National Arts Centre in Ottawa is putting on a “Black Out” night at its Babs Asper Theatre on Feb. 17 — the middle of Black History Month — for the performance of “Is God Is,” a play written by and starring Black women.
“A Black Out is an open invitation to Black-identifying audiences to come and experience performances with their community,” the theater announced earlier this month.
“The evenings will provide a dedicated space for Black theatregoers to witness a show that reflects the vivid kaleidoscope that is the Black experience.”
@topicdujour
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🇨🇦🇲🇽One of Canada's 'most wanted' arrested in Mexico for alleged pimping and sexual offences
A Canada-wide warrant had been placed for Blake Charbonneau's arrest, with a reward of up to $50,000 offered last year for information that could lead to his capture.
Charbonneau was arrested by Mexican authorities and brought to Toronto, and then finally transferred to the custody of the Sûreté du Québec's integrated pimping squad.
Charbonneau will appear at the Quebec City courthouse to face charges of sexual assault, sexual assault with a weapon, aggravated sexual assault, obtaining sexual services for a fee (including from minors), and aggravated sexual assault.
@maplechronicles
A Canada-wide warrant had been placed for Blake Charbonneau's arrest, with a reward of up to $50,000 offered last year for information that could lead to his capture.
Charbonneau was arrested by Mexican authorities and brought to Toronto, and then finally transferred to the custody of the Sûreté du Québec's integrated pimping squad.
Charbonneau will appear at the Quebec City courthouse to face charges of sexual assault, sexual assault with a weapon, aggravated sexual assault, obtaining sexual services for a fee (including from minors), and aggravated sexual assault.
@maplechronicles
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Recent voting intentions poll shows Liberals and Conservatives are tied
According to the latest federal voting intentions poll by Léger, support for the Liberal Party is now 34%, 4 percentage points higher than last month. The Conservative Party of Canada is also polling at 34%, up 1 point from last month, while support for the NDP has decreased 2 points to 19%.
The next Canadian federal election will take place in 2025.
@maplechronicles
According to the latest federal voting intentions poll by Léger, support for the Liberal Party is now 34%, 4 percentage points higher than last month. The Conservative Party of Canada is also polling at 34%, up 1 point from last month, while support for the NDP has decreased 2 points to 19%.
The next Canadian federal election will take place in 2025.
@maplechronicles
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Canada hosts 2023 Arctic Winter Games
The opening ceremony of the 2023 Arctic Winter Games took place on January 29. This year, the Games will be hosted in Wood Buffalo, Alberta, on Treaty 8 Territory.
An international contingent of 2,100 athletes, coaches, mission staff, officials, and artists from five Canadian jurisdictions (Yukon, Northwest Territories, Northern Alberta, Nunavut, and Nunavik), Alaska (United States), Greenland and the Sami region (Finland, Sweden, and Norway) will take part in the Games.
The Government of Canada, through Sport Canada, has invested $2.5 million in the Arctic Winter Games, one of the largest and most important sport and cultural events in the circumpolar north. A total of 20 sports will be held at 13 venues across the regional municipality.
@maplechronicles
The opening ceremony of the 2023 Arctic Winter Games took place on January 29. This year, the Games will be hosted in Wood Buffalo, Alberta, on Treaty 8 Territory.
An international contingent of 2,100 athletes, coaches, mission staff, officials, and artists from five Canadian jurisdictions (Yukon, Northwest Territories, Northern Alberta, Nunavut, and Nunavik), Alaska (United States), Greenland and the Sami region (Finland, Sweden, and Norway) will take part in the Games.
The Government of Canada, through Sport Canada, has invested $2.5 million in the Arctic Winter Games, one of the largest and most important sport and cultural events in the circumpolar north. A total of 20 sports will be held at 13 venues across the regional municipality.
@maplechronicles
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National Arts Centre cancels much-criticized plan for 'Black-only' performance
The Art Centre, which previously invited only "black-identifying audience" to attend the Feb. 17 performance, now states that it "will welcome Black audiences" without specifying that non-Black patrons should make other plans.
🍁 Maple Chronicles
The Art Centre, which previously invited only "black-identifying audience" to attend the Feb. 17 performance, now states that it "will welcome Black audiences" without specifying that non-Black patrons should make other plans.
🍁 Maple Chronicles
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Topic du jour
🇨🇦Canadian theater sparks outrage after announcing black-only performances
A taxpayer-funded Canadian theater organization has sparked outrage after announcing an event that will only allow “Black-identifying audiences” to attend.
The National Arts Centre…
A taxpayer-funded Canadian theater organization has sparked outrage after announcing an event that will only allow “Black-identifying audiences” to attend.
The National Arts Centre…
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⚡️Drug decriminalization in B.C. begins today
Adults are allowed to possess a total of 2.5 grams of opioids like heroin and fentanyl, as well as crack and powder cocaine, meth and MDMA.
#BritishColumbia
🍁 Maple Chronicles
Adults are allowed to possess a total of 2.5 grams of opioids like heroin and fentanyl, as well as crack and powder cocaine, meth and MDMA.
#BritishColumbia
🍁 Maple Chronicles
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Quebec wants Trudeau government's anti-Islamophobia adviser removed over Bill 21 comments
Amira Elghawaby faces criticism over her opinion on Quebec’s secularism law, Bill 21.
🔹The law bans public employees in positions of authority from wearing religious symbols such as a kippah, turban or hijab while on the job.
In 2019 Elghawaby referenced a poll, that found 88 per cent of Quebecers who held negative views of Islam supported the secularism law’s ban on religious symbols.
“The majority of Quebecers appear to be swayed not by the rule of law, but by anti-Muslim sentiment.” - she wrote in her opinion piece.
Elghawaby has recently clarified that she does not believe Quebecers are Islamophobic and that her comments were only in reference to the Bill 21 poll.
Nevertheless, Quebec officials consider her comments "inappropriate" and call for her resignation.
#Quebec
🍁 Maple Chronicles
Amira Elghawaby faces criticism over her opinion on Quebec’s secularism law, Bill 21.
🔹The law bans public employees in positions of authority from wearing religious symbols such as a kippah, turban or hijab while on the job.
In 2019 Elghawaby referenced a poll, that found 88 per cent of Quebecers who held negative views of Islam supported the secularism law’s ban on religious symbols.
“The majority of Quebecers appear to be swayed not by the rule of law, but by anti-Muslim sentiment.” - she wrote in her opinion piece.
Elghawaby has recently clarified that she does not believe Quebecers are Islamophobic and that her comments were only in reference to the Bill 21 poll.
Nevertheless, Quebec officials consider her comments "inappropriate" and call for her resignation.
#Quebec
🍁 Maple Chronicles
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Canadian province tries decriminalizing drugs to fight overdose crisis
British Columbia began a three-year pilot program to stop prosecuting people for carrying small amounts of heroin, meth, ecstasy, or crack cocaine, as part of an effort to fight a drug overdose crisis.
B.C. is at the epicenter of Canada's drug overdose and trafficking crisis that has killed more than 32,000 nationally since 2016, when the province declared it a public health emergency.
Preliminary data released by the province showed there were 2,272 suspected illicit drug toxicity deaths in 2022.
The fed government said in May it would let B.C. decriminalize the drugs in a first-of-its-kind exemption. By not prosecuting people carrying small amounts of drugs, the B.C. government hopes to tackle the issue as a health problem rather than through the criminal justice system.
#BritishColumbia
🍁 Maple Chronicles
British Columbia began a three-year pilot program to stop prosecuting people for carrying small amounts of heroin, meth, ecstasy, or crack cocaine, as part of an effort to fight a drug overdose crisis.
B.C. is at the epicenter of Canada's drug overdose and trafficking crisis that has killed more than 32,000 nationally since 2016, when the province declared it a public health emergency.
Preliminary data released by the province showed there were 2,272 suspected illicit drug toxicity deaths in 2022.
The fed government said in May it would let B.C. decriminalize the drugs in a first-of-its-kind exemption. By not prosecuting people carrying small amounts of drugs, the B.C. government hopes to tackle the issue as a health problem rather than through the criminal justice system.
#BritishColumbia
🍁 Maple Chronicles
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