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Bank of Canada expected to deliver second consecutive rate cut today

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OTTAWA – The Bank of Canada is set to announce its interest rate decision this morning as economists widely expect a rate cut.

Forecasters say slowing inflation and a weak economy justify a second consecutive cut by the central bank.

After a historic run-up, the central bank lowered its policy rate for the first time in June, bringing it down from five per cent to 4.75 per cent.

Governor Tiff Macklem signalled at the time that if inflation continues to ease, it would be reasonable to expect more rate cuts.

Last week, Statistics Canada reported the annual inflation rate ticked back down to 2.7 per cent in June after flaring up again in May.

Weak economic conditions have also slowed activity in the job market, bringing the unemployment rate up to 6.4 per cent last month.

This report by The Canadian Press was first published July 24, 2024.

The Canadian Press. All rights reserved.

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New regulations allow Canada Post to ship restricted firearms returned in gun buyback

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OTTAWA – The federal government is giving Canada Post the ability to store and transport restricted firearms in new regulations that bring the retail gun buyback program one step closer to beginning.

An order-in-council dated Oct. 16 allows for restricted assault-style firearms to be removed from safes at firearms retailers, transported and ultimately destroyed.

More than 1,500 models of firearms were restricted in May 2020 after a mass shooting in Nova Scotia left 23 people dead, including the gunman.

Since then, retailers that have the now-banned weapons have been required to securely keep them in their inventory.

“Once the program launches, the updated shipping regulations will make the affected firearms and devices mailable matter and will temporarily permit businesses taking part in the program to ship firearms or devices via post,” said Gabriel Brunet, spokesperson for Public Safety Minister Dominic LeBlanc, in a statement on Friday.

LeBlanc previously said that the long-promised gun buyback would begin this fall.

First, the government will buy restricted firearms from retail stores and have them destroyed. An individual buyback program for people who own restricted weapons begins next year.

In a statement, Canada Post said it is prepared to take part in the first phase of the buyback program, because retailers are already familiar with the strict rules required to safely mail firearms.

The Crown corporation maintains it will not take part in the second phase of the buyback program, involving individual firearm owners, because of concerns with employee safety.

The Criminal Code amnesty for owning restricted assault-style firearms has been extended twice so far, and is now set to expire on Oct. 30, 2025. The regulations allowing these firearms to be mailed expires on the same date.

This report by The Canadian Press was first published October 25, 2024

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Mail-in ballot figures coming for each B.C. riding, may make election outcome clearer

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VICTORIA – Elections BC is expected to provide a breakdown today of the number of uncounted mail-in and absentee ballots in each of British Columbia’s 93 ridings, potentially making clearer the outcome of the weekend’s nail-biting vote.

There are about 65,000 of the ballots to count between tomorrow and Monday, which could solidify results from election night, or may even flip some ridings.

A handful of ridings remain too close to call after Saturday’s election, in which neither the NDP nor the B.C. Conservatives secured the 47 seats needed for a majority.

Two full recounts will also start this weekend for the ridings of Juan de Fuca-Malahat and Surrey City Centre because there were fewer than 100 votes separating the NDP and B.C. Conservative candidates.

For now, the NPD is elected or leading in 46 ridings, while the B.C. Conservatives have 45 seats, and two members of the Green Party have been elected.

Elections BC says the counting of mail-in and absentee ballots starts Saturday, while the recounts, which will be conducted by hand, start Sunday.

The Surrey City Centre result is expected Sunday, while the result in Juan de Fuca-Malahat is expected on Monday.

This report by The Canadian Press was first published Oct. 25, 2024.

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Canadian consensus on immigration under threat, but not gone: immigration minister

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OTTAWA – Immigration Minister Marc Miller says Canada’s long-held consensus on immigration is under threat, but has not disappeared.

On Thursday, Prime Minister Justin Trudeau announced plans to slash Canada’s immigration targets by 20 per cent next year and admitted his government did not get the balance right after the COVID-19 pandemic.

Conservative Leader Pierre Poilievre accused the Liberals of trying to correct course after destroying the national consensus on immigration Conservatives and Liberals have held for 150 years.

He says attitudes toward immigrants have soured thanks to the policies of the last several years, as Liberals ramped up the number of permanent residents and the number of temporary residents ballooned.

Miller says concerns about social cohesion and anti-immigrant sentiments exist in Canada, as they always have, and the new targets won’t entirely assuage people’s fears.

He says the government needs to respond to Canadians who are concerned about the volume of newcomers but he also hopes people, provinces and institutions who have benefited from immigration will speak up.

This report by The Canadian Press was first published Oct. 25, 2024.

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