Jump in interest rates
We can expect to see a big jump in interest rates when the Bank of Canada next meets in
Inflation took its biggest increase in almost 40 years in May, at 7.7 percent higher than most observers had predicted fuelled largely by higher energy prices.
Financial analysts say that’ll put pressure on the central bank to increase its trend-setting rate by other three-quarters of a percentage point matching a hike made by the Federal Reserve in the U-S earlier this month.
That’ll put renewed pressure on everything from mortgage rates to lines of credit.
The Bank of Canada has already increased rates by a full percentage point this year.
Earthquake in Afghanistan
The Taliban government in Afghanistan is appealing for international aid, following a devastating earthquake in the country’s remote eastern regions.
The temblor has left at least one thousand people dead and hundreds more injured.
But rescue crews fear the toll will rise, as they struggle to reach the region along the border with Pakistan.
The few roads in the area have been heavily damaged by rock falls and mudslides after days of torrential rainfall.
Three Canadian Cities high on the list
Canada has done well in the latest ratings from the British magazine, The Economist.
Its annual rankings of the world’s most liveable cities have three locations in the top ten.
Calgary ranked fourth, Vancouver was fifth and Toronto gained the eighth spot.
Vienna was named as the most liveable city in the world.
The survey considered factors such as health care, infrastructure, green space, crime rates, and political stability.
Ukrainian President addresses Canadian university students
Ukrainian President Volodymyr Zelensky is urging Canadians not to forget about the war in his country.
Appearing by internet hookup before students from ten Canadian universities, he admitted that war-weariness may be taking a toll after four months of battles.
But he says it’s critical that public interest is maintained and that students continue to press their political leaders to provide the support that Ukraine needs.
In Ukraine, officials say the battle for the eastern city of Severodonetsk is reaching its climax, with soldiers and civilians still trapped in a massive chemical plant in the city.
As well, they report increased shelling and Russian troop buildups near the northeast city of Kharkiv.
Ukrainian soldiers had pushed the Russians away from the city just last month.