Former Bank of Canada governor Stephen Poloz says government spending and stimulus are not to blame for increased inflation.
“I think that’s not right,” he said during an interview on CTV’s Question Period airing Sunday. “In fact, what the stimulus did was to keep the economy from going into a deep hole in which we would have experienced persistent deflation.”
Inflation has reached 4.7 per cent, according to the latest numbers released by Statistics Canada in October. The Bank of Canada expects it to peak at the end of this year and start to decline in the latter half of 2022.
“We have to accept the fact that policy [stimulus] response was in the right time, well intended and it did avert all the worst calls that people were making at that time,” he said.
In response to affordability concerns, the federal government has repeatedly referenced their national childcare program, as a means to combat higher costs of living. Nine provincial and territorial governments have signed childcare deals with the federal government, while Ontario and New Brunswick have yet to sign on.
Families, Children and Social Development Minister Karina Gould said in a separate interview that the inflation problem is not a uniquely Canadian issue and can be attributed to global supply chain problems.
Conservative Finance Critic Pierre Poilievre says the federal government’s fiscal spending is to blame for inflation.
The average inflation rate for member countries of the Organization for Economic Co-operation and Development is currently at 4.3 per cent but Poilievre says the problem is only a global issue as a result of other central banks around the world taking a similar approach to Canada on fiscal stimulus.
“I think those are the countries that did the best job of countering the downside risk that everybody was facing,” said Poloz. “Read a book or two about the Great Depression in the 1930s and realize what was averted when we went through this.”
Poloz says that while governments can try to address affordability concerns in the short-term, any government policy normally takes a year or two to have any effect on inflation.
But he expects housing inflation to persist and says those rising costs can be something the federal government can address immediately.
“What they can do there is get all the levels of government together and figure out a list of things that they should be doing in order to promote supply of housing, we’re clearly short of supply and housing,” he said.
Amid Omicron, 700,000 Canadians flew abroad in December – CTV News
For many Canadians, the Omicron variant wasn’t going to stop their holiday travel plans.
Despite the federal government’s advisory against travelling outside of Canada amid surging COVID-19 cases taking effect midway through December, last month saw more international travel to and from Canada than any other period since the start of the pandemic.
Data collected by the Canada Border Services Agency and the Public Health Agency of Canada shows that 742,400 Canadians flew back into the country through Canadian airports in December. That’s a nearly eight-fold increase from December 2020, which only saw 93,800 Canadian travellers.
The week of Dec. 27 to Jan. 2, right after Christmas, saw the highest volume of travel into Canada. There were 215,665 Canadian citizens who returned to Canada by air that week.
For foreign nationals flying into Canada, Dec. 20 to 26 was the busiest week for travel. The data says 125,526 foreign nationals flew into the country that week and 352,900 for the entire month of December.
Although air travel appears to have rebounded significantly, these numbers are still a far cry from December 2019, which saw over 1.1 million Canadians and 577,800 foreign nationals travel by air.
At the land border, there were 608,900 Canadians returning from the U.S. in December, which is up four times from the previous year. Americans also took 291,600 trips to Canada that month.
In response to rising COVID-19 cases driven by Omicron, the federal government on Dec. 15 issued an advisory urging Canadians to avoid all non-essential travel outside of the country. The feds also tightened testing requirements at the border on Dec. 21, once again mandating that all travellers entering Canada present a negative molecular test result, regardless of trip length or vaccination status.
Cross-border trips also plummeted after the testing requirement went into effect. In the first 20 days of December, 24,600 Canadians on average returned from the U.S. After Dec. 21, the average fell to 10,600, less than half of what it was earlier in the month.
Travellers returning to Canada by air from any country other than the U.S. may also be randomly selected to undergo a PCR test on arrival. But as provinces struggle with their own PCR testing capacity, airports and airlines say testing arrival testing is not the best use of resources and have called on the federal government to drop the requirement.
On the U.S. side, the Department of Homeland Security now requires Canadians and other foreign travellers entering through its land borders to be fully vaccinated as of Saturday. Foreign travellers flying into the U.S. had already been required to present proof of vaccination.
Pope confers lay ministries on women, formalising recognition of roles
Pope Francis on Sunday for the first time conferred the lay Roman Catholic ministries of lector and catechist on women, roles that previously many had carried out without institutional recognition.
He conferred the ministries at a Mass in St. Peter’s Basilica, where, in an apparent reference to resistance to change by some conservative, he criticised those who need to have rigid regulations and “more rules” in order to find God.
Last year, Francis changed Church law on the ministries of lector and acolyte, which mainly had been reserved to seminarians preparing for priesthood, saying he wanted to bring stability and public recognition to women already serving in the roles.
Lectors read from scripture, acolytes serve at Mass, and catechists teach the faith to children and adult converts.
The ministries of lector and acolyte existed before but were officially reserved to men. Francis instituted the ministry of the catechist last year.
At Sunday’s Mass the pope installed six women and two men as lectors and three women and five men as catechists. Francis gave a bible to each lector and a crucifix to each catechist.
The formalisation, including a conferral ceremony, will make it more difficult for conservative bishops to block women in their dioceses from taking on those roles.
The change will be particularly important as a recognition for women in places such as the Amazon, where some are the de facto religious leaders of remote communities hit by a severe shortage of priests.
The Vatican stressed that the roles are not a precursor to women one day being allowed to become priests. The Catholic Church teaches that only men can be priests because Jesus chose only men as his apostles.
Supporters of a female priesthood say Jesus was conforming to the customs of his times and that women played a greater role in the early Church than is commonly recognised.
Francis has appointed a number of women to senior jobs in Vatican departments previously held by men.
(Reporting by Philip Pullella; Editing by Raissa Kasolowsky)
Pope calls for world day of “prayer for peace” over Ukraine crisis
Pope Francis on Sunday called for an international day of “prayer for peace” on January 26 to stop the Ukraine crisis from worsening, saying the tensions were threatening the security of Europe and risking vast repercussions.
Francis announced the prayer day and made the appeal for dialogue to defuse the crisis during his weekly address and blessing to pilgrims and tourists in St. Peter’s Square.
Top U.S. and Russian diplomats failed https://www.reuters.com/world/top-diplomats-us-russia-meet-geneva-soaring-ukraine-tensions-2022-01-21 on Friday to make a major breakthrough in talks to resolve the crisis over Ukraine, although they agreed to keep talking. On Sunday, Britain accused Russia of seeking to install a pro-Russian leader in Ukraine.
“I am following with concern the rising tensions that threaten to deliver a new blow to peace in Ukraine and put the security of Europe in doubt, with even more vast repercussions,” he said.
He appealed to “all people of good will” to pray next Wednesday so that all political initiatives “be for the service of human fraternity” rather than partisan interests. The Vatican gave no immediate details on how the pope would mark the day.
“Those who pursue their interests by damaging others are in contempt of his vocation as a man, because we were all created as brothers,” he said, without elaborating.
On Friday U.S. Secretary of State Antony Blinken met Russian Foreign Minister Sergei Lavrov and warned of a “swift, severe” response if Russia invades Ukraine after massing troops near its border.
(Reporting by Philip PullellaEditing by Raissa Kasolowsky)
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