Governor of the Bank of Canada Tiff Macklem speaks during a news conference on the bank's interest rate announcement in Ottawa, on Wednesday, July 24, 2024. The Bank of Canada will announce its interest rate decision this morning as forecasters expect it to deliver another quarter-point rate cut. THE CANADIAN PRESS/Justin Tang
Here is a roundup of stories from The Canadian Press designed to bring you up to speed…
Bank of Canada set to announce third consecutive interest rate cut today
The Bank of Canada will announce its interest rate decision this morning as forecasters expect it to deliver another quarter-point rate cut. Encouraged by slowing inflation, the central bank has lowered its policy rate at its last two meetings. Its key interest rate currently stands at 4.5 per cent and Governor Tiff Macklem has signalled the bank will continue to cut interest rates, so long as inflation continues to ease. High interest rates have helped reduce price pressures this year, bringing Canada’s inflation rate down to 2.5 per cent in July.
LGBTQ+ activists call for Trudeau to step aside
LGBTQ+ activists say Prime Minister Justin Trudeau’s pledge to remain the Liberal leader through to the next election, despite dwindling public support, is putting them at risk. Queer advocates say a Conservative government led by Pierre Poilievre would be dangerous for the LGBTQ+ community, and some are calling on Trudeau to step aside to give the Liberals a better chance at winning the next election – which must happen by Oct. 20, 2025. A spokesperson for the Conservatives did not directly respond to questions but instead sent an email with a series of transcribed answers that Poilievre gave to journalists between June 2023 and February 2024 on LGBTQ+ issues.
Here’s what else we’re watching…
TIFF touts celeb-charged edition after myriad woes
Toronto International Film Festival CEO Cameron Bailey says the annual cinematic showcase is “back in a big way” after several setbacks cast a shadow over last year’s event. The festival kicks off Thursday, bringing with it the star power lacking from last year’s edition due to Hollywood strikes. Angelina Jolie, Pharrell Williams and Cate Blanchett are among the celebs expected to walk the red carpet, while some of the buzziest titles include Pamela Anderson’s comeback drama “The Last Showgirl,” Jason Reitman’s “Saturday Night,” and Francis Ford Coppola’s self-funded passion project “Megalopolis.”
Talks set for Metro Vancouver transit strike
The operator of Metro Vancouver’s specialized HandyDART transit system says it will meet with striking workers and a mediator on Sunday in an effort to resolve the dispute that has shut down most of the service. TransDev Canada says it’s been in contact with the B.C. Labour Relations Board, which had contacted the union in an effort to resolve the contract dispute, and both sides had agreed to the meeting. Other HandyDART trips in Metro Vancouver have been cancelled for an indefinite period after unionized workers began their strike Tuesday morning.
Diet, demographics behind Prairies wasp outbreak
Patio-sitters and backyard barbecuers may have noticed some uninvited guests at their al fresco meals lately. An outbreak of wasps has already forced one Edmonton school to hold recess indoors and restaurant servers around the city to warn patrons there may be some yellow-jacketed gatecrashers at their outdoor table. Experts say the outbreak stems from wasp diet and demographics. As the weather cools, wasps slow down and will eventually all die – except for a few fertilized females who can start the whole cycle over again in the spring.
This report by The Canadian Press was first published September 4, 2024.
