Canada: Latest News

All news where Canada is mentioned

Chrystia Freeland - Bill 100 (100) - Grocery rebate rollout: Here’s who will get the one-time payment and when - globalnews.ca - Canada
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Grocery rebate rollout: Here’s who will get the one-time payment and when
grocery rebate as early as July 5, the federal government said Thursday.In a statement, the government said the grocery rebate will be delivered to eligible Canadians on that date, by direct deposit or cheque through the Canada Revenue Agency.The rebate will be up to $467 for eligible couples with two children, $234 for single Canadians without children, and $225 for seniors, on average.The announcement came as Bill C-46, the Cost of Living Act, which allows the rebate, received Royal Assent on Thursday. The legislation also includes a $2 billion Canada Health Transfer (CHT) top-up to reduce backlogs and wait times, the statement said.The grocery rebate was introduced in the 2023 federal budget as a way to compensate Canadians for higher grocery prices due to inflation, though the rebate can be spent on anything.“It is excellent news for Canadians that Bill C-46 received Royal Assent today, following unanimous approval by the House of Commons just a few weeks ago,” Finance Minister Chrystia Freeland said in a statement.The rebate will be issued automatically to about 11 million Canadians whose household income is $38,000 or less, and individuals who make $32,000 or less.There is no need to apply for the grocery rebate, which will be delivered along with the July GST Credit payment.
Digital loonie? Bank of Canada wants your thoughts on potential new currency - globalnews.ca - China - India - Canada - county Canadian
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Digital loonie? Bank of Canada wants your thoughts on potential new currency
Bank of Canada wants to know what Canadians think about the possibility of a digital loonie.Consultations on what Canadians would like to have included in a digital currency are open online from May 8 until June 19, the Bank of Canada said Monday.The central bank notes, however, that the decision to launch a digital version of the Canadian dollar remains in the hands of Parliament and physical coins and banknotes aren’t going anywhere.Compared to private cryptocurrencies like Bitcoin, which can sometimes fluctuate in value like a stock, a digital currency backed by the central bank would not be subject to the same level of volatility — it would always retain the same value as a Canadian dollar.The central bank wants to know how Canadians would use a hypothetical digital currency, as well as any concerns they have about security and accessibility.While the Bank reassured Canadians in its announcement that physical banknotes will always be available to those who want them, it said in a release Monday there could be a future where cash transactions are not common in day-to-day banking, which could inadvertently exclude some from the financial system.There is currently no need for a digital currency in Canada, the central bank said in the release.But it added that if other central banks or private organizations eventually adopt their own digital currencies — China and India are two such countries that have already taken the step — falling behind could be a risk to Canada’s economy and the stability of the financial system.“As Canada’s central bank, we want to make sure everyone can always take part in our country’s economy,” Carolyn Rogers, senior deputy governor at the central bank, said in a statement.
Health News - Peter Marks - World’s 1st RSV vaccine approved in U.S. for adults aged 60 and up - globalnews.ca - Usa - Canada
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World’s 1st RSV vaccine approved in U.S. for adults aged 60 and up
respiratory syncytial virus (RSV) was approved by the U.S. Food and Drug Administration (FDA) on Wednesday.The Arexvy vaccine, made by GlaxoSmithKline (GSK), was approved for the prevention of lower respiratory tract disease caused by RSV in individuals 60 years of age and older, according to an FDA release.“Older adults, in particular those with underlying health conditions, such as heart or lung disease or weakened immune systems, are at high risk for severe disease caused by RSV,” Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, said in the statement.“Today’s approval of the first RSV vaccine is an important public health achievement to prevent a disease which can be life-threatening and reflects the FDA’s continued commitment to facilitating the development of safe and effective vaccines for use in the United States.”RSV infection is a major cause of lower respiratory illness, particularly among infants, young children and older adults.Canada currently does not have a vaccine for RSV.However, Health Canada has accepted and is reviewing Pfizer Canada’s bivalent RSV vaccine for babies under six months and individuals aged 60 and above, the pharmaceutical company said in a statement on April 14.The health agency is also reviewing GSK’s RSV vaccine for adults 60 years of age and older.Several companies are creating RSV vaccines but Pfizer and rival GSK are furthest along.  The competing vaccines are made somewhat differently but each proved strongly effective, especially against serious disease.For most healthy people, RSV is a cold-like nuisance.For the very young, the elderly and people with certain health problems, it can be serious, even life-threatening.
Marco Mendicino - Initial phase of firearms buyback program takes shape as Ottawa inks deal - globalnews.ca - Canada - city Ottawa
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Initial phase of firearms buyback program takes shape as Ottawa inks deal
banned firearms as it continues to rework some controversial gun control amendments.Public Safety Minister Marco Mendicino made the announcement Wednesday morning, in what Ottawa is touting as a “significant step” towards the launch of the Firearms Buyback Program.The Canadian Sporting Arms and Ammunition Association (CSAAA), which represents the hunting and sport shooting industry in Canada, will work in collaboration with Public Safety Canada and retailers.The first phase of the program set to begin later this year will focus on businesses with banned firearms in their possession, according to a government statement.The CSAAA will help identify the number and types of banned firearms that are held by businesses and try to “streamline” the buyback process, the statement said.The second phase, which will come later but with no clear timeline yet, will focus on individual gun owners and will not involve the CSAAA.The Liberal government banned some 1,500 models and variants of firearms, including the AR-15 and Ruger Mini-14, through an order-in-council in May 2020.The proposed buyback program would require owners to either sell these firearms to the government or have them rendered inoperable at federal expense.“The successful implementation of this program is no small feat, and we appreciate the expertise of the Canadian Sporting Arms and Ammunition Association,” said Mendicino in a statement.“This is the first step towards getting assault-style firearms out of our communities,” he added.In February, the federal government withdrew an amendment to the federal bill that would have spelled out in law the various models covered by a ban on assault-style guns.Automatic firearms are already prohibited in Canada.The Liberals
Tiff Macklem - Here’s when markets expect the Bank of Canada to start cutting interest rates - globalnews.ca - Canada
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Here’s when markets expect the Bank of Canada to start cutting interest rates
Bank of Canada will hold interest rates at the 15-year high 4.50 per cent until the end of 2023, before starting to cut rates at the start of next year, according to a median of market participants in the central bank’s survey released on Monday.The bank’s survey of market participants, the second iteration of the poll first released in February, showed a median of the participants forecasting interest rates dropping to 3.0 per cent by the end of 2024.Market participants in the first survey released in February had said rates would fall to 4.0 per cent by the end of the year.A median of 26 participants predicted a 0.1 per cent contraction of gross domestic product at the end of 2023, compared with a 0.4 per cent decline forecast in the last survey.The participants, surveyed from March 9 to 23, cited weaker housing market and tightening of financial conditions among top risks that could curtail Canadian growth.The bank raised interest rates eight consecutive times through January in an effort to cool high inflation that peaked at a four decade high last year.The bank has since kept rates steady at two meetings, in part because Governor Tiff Macklem has said the goal is to slow growth, but avoid a recession.Annual inflation rate eased to 4.3 per cent in March, but is still more than double the bank’s two per cent target.
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