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Report says delaying second dose of the Vaccine up to 42 days is OK, but some warn of risks

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TORONTO —
With just one per cent of Canadians vaccinated, and in the face of rising cases and strained hospitals, a new report from the National Advisory Committee on Immunization says provinces can accelerate the number of people being vaccinated by delaying the second dose for up to 42 days.

This would lengthen the specific waiting period between doses that has been proven to work in clinical trials for both vaccines.

The updated recommendations, released Tuesday by NACI, raise questions for Canadians anxiously awaiting the protection of a vaccine, as well as officials trying to speed up the rollout.

But the data is scarce on the impact of such measures, and scientists are split over whether they are worth the risks.

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Dr. Caroline Quach, an epidemiologist and professor at the University of Montreal and chair of NACI told CTV News that it is a decision that could be made when regions “have no choice.”

“When you look at the epidemiological context where Ontario and Quebec are having huge community transmission, hospitalizations, complications, mortality, you have to wonder, do we have any data that would allow us to vaccinate more people at first,” she said.

She pointed out that the wave of cases is very high right now, pushing the need for more vaccines fast to cut down on overall transmission, even if the efficacy of those vaccines might wane due to the delay.

The two vaccines that have been approved in Canada so far — PfizerBioNTech and Moderna’s — both require two separate doses in order to achieve 94-95 per cent immunity for the patient.

These doses are spaced apart. Pfizer’s second dose is intended to be delivered 21 days after the first, while Moderna’s has a 28-day wait in between the doses.

The report from NACI says that while the ideal is to follow the vaccine manufacturers’ recommendations, people can wait longer — 42 days or so for the second dose — in order to allow double the number of Canadians to get some partial protection by receiving their first shot faster.

“We’re basically in a race against time,” Ashleigh Tuite, an epidemiologist and mathematical modeller with the University of Toronto, told CTV News. “And so the quicker we can get people vaccinated, the better.”

She pointed out that the need for fast immunization of the population is even more important in the wake of the news that the more transmissible U.K. variant of the novel coronavirus is in Canada.

Canada currently has almost 80,000 active cases of COVID-19, and more than 6,000 new cases were reported today. In a worrying trend, hospitalizations are also high, and long-term care homes are coming under fire again.

“Based on the data that we have on the vaccines, a week or two or three week delay in [doses] is unlikely to cause us a huge problem,” Tuite said. “And if anything, it’s still preferential to focus on getting those first vaccine doses in arms.”

It’s a plan endorsed by the World Health Organization, which said people can wait up to six weeks between doses to broaden coverage, with both the U.K. and the U.S. now releasing stored doses.

Both vaccines offer partial protection within 15 days of receiving the first shot, with Pfizer offering 52-per-cent efficacy and Moderna providing 80-per-cent efficacy.

But some scientists warn that relying on partial immunity and delaying the second shots may lead to viral mutations and inadequate immunity.

“The efficacy is likely not to be as high as we stretch out the time between the first and second dose,” Matthew Miller, an infectious disease specialist and associate professor at McMaster University, told CTV News.

“The further you get away from that first dose before getting the second dose, the greater your relative risk is [than] if you’ve got that second dose on schedule.”

He agrees that we should be vaccinating as many people as possible, without holding back the second dose in freezers, but believes we should only use up shipments on the first shot if there is the guarantee that more shipments of the second dose will arrive on time.

The very first people getting the vaccines are those on the frontlines and those at the highest risk from the virus, such as elderly people. This makes it all the more important that we get the vaccine rollout right, Miller said.

“We need to make sure that we give those people their vaccine doses on time in order to ensure that they enjoy sort of the maximum benefit and protection that the vaccines have to offer,” he said.

“I think right now where we’re still prioritizing the highest risk populations, it makes the most sense to stick as closely to the vaccine recommended schedule as possible.”

Both Pfizer and Moderna tell CTV News their shots should be delivered as studied and agreed upon by Health Canada.

“The safety and efficacy of the vaccine has not been evaluated on different dosing schedules as the majority of trial participants received the second dose within the window specified in the study design,” Pfizer said in an emailed statement, adding that there is no data “to demonstrate that protection after the first dose is sustained after 21 days.”

Moderna also stated that all of their trials included a second “boost” dose at 28 days, meaning they have no data on how long the efficacy of the first dose alone is sustained.

Health Canada’s position on the vaccination schedules is that Canadians “receive both doses of the same vaccine, as close as possible to the authorized dosing regimen for each vaccine.”

However, the organization noted in an emailed statement that provinces and territories may refer to NACI’s advice on the matter when making decisions on their vaccine rollout, and that NACI “has carefully weighed the scientific evidence and ethical implications” of all of their recommendations.

And some seniors in Quebec are considering suing because their second doses of the vaccine have been delayed — with some of them having contracted COVID-19 in the meantime.

How much the strategy of delaying the second doses could speed up vaccination is an unknown. Ottawa says 80 million doses are to arrive this year — but exactly when they will be in the arms of the public is still up in the air.

Source:- CTV News

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Why the Bank of Canada decided to hold interest rates in April – Financial Post

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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”

“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”

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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.

Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”

In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.

Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.

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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.

The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.

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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.

“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”

• Email: bshecter@nationalpost.com

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Meta shares sink after it reveals spending plans – BBC.com

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Woman looks at phone in front of Facebook image - stock shot.

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.

The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).

Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.

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Meta has been updating its ad-buying products with AI tools to boost earnings growth.

It has also been introducing more AI features on its social media platforms such as chat assistants.

The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.

Its shares fell despite it beating expectations on its earnings.

First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.

She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.

More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.

She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.

Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.

President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.

Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.

Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.

And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.

Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.

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Oil Firms Doubtful Trans Mountain Pipeline Will Start Full Service by May 1st

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Pipeline

Oil companies planning to ship crude on the expanded Trans Mountain pipeline in Canada are concerned that the project may not begin full service on May 1 but they would be nevertheless obligated to pay tolls from that date.

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In a letter to the Canada Energy Regulator (CER), Suncor Energy and other shippers including BP and Marathon Petroleum have expressed doubts that Trans Mountain will start full service on May 1, as previously communicated, Reuters reports.

Trans Mountain Corporation, the government-owned entity that completed the pipeline construction, told Reuters in an email that line fill on the expanded pipeline would be completed in early May.

After a series of delays, cost overruns, and legal challenges, the expanded Trans Mountain oil pipeline will open for business on May 1, the company said early this month.

“The Commencement Date for commercial operation of the expanded system will be May 1, 2024. Trans Mountain anticipates providing service for all contracted volumes in the month of May,” Trans Mountain Corporation said in early April.

The expanded pipeline will triple the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from Alberta’s oil sands to British Columbia on the Pacific Coast.  

The Federal Government of Canada bought the Trans Mountain Pipeline Expansion (TMX) from Kinder Morgan back in 2018, together with related pipeline and terminal assets. That cost the federal government $3.3 billion (C$4.5 billion) at the time. Since then, the costs for the expansion of the pipeline have quadrupled to nearly $23 billion (C$30.9 billion).

The expansion project has faced continuous delays over the years. In one of the latest roadblocks in December, the Canadian regulator denied a variance request from the project developer to move a small section of the pipeline due to challenging drilling conditions.

The company asked the regulator to reconsider its decision, and received on January 12 a conditional approval, avoiding what could have been another two-year delay to start-up.

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