Also: Canada’s economy cools; Russia orchestrates first large air strike in Ukraine in months
Canada’s economy starts to cool after rollicking start to 2023in the face of high interest rates after booming growth at the beginning of the year.
Real gross domestic product rose 0.1 per cent in February, after a 0.6-per-cent expansion in January, Statistics Canada said today in a report. In a preliminary estimate, Statscan said GDP edged lower by 0.1 per cent in March. On the whole, the economy is trending toward annualized growth of 2.5 per cent in the first quarter.
Canada’s central bank has aggressively raised interest rates to try to slow down the economy and tame inflation. Its policy rate, now 4.5 per cent, is the highest it’s been since 2007 and is set to remain around that level for a while yet. Most private-sector forecasters expect Canada to enter a mild recession later this year as a result of high interest rates.At least 25 people were killed in Ukrainewith missiles as they slept.
Officials said at least 23 civilians were killed, including four children in the central town of Uman. In the southeastern city of Dnipro, a missile killed a two-year-old child and a 31-year-old woman, according to the regional governor. The capital Kyiv was also rocked by explosions, as were the central cities of Kremenchuk and Poltava, and Mykolaiv in the south., who was sanctioned by the West and dubbed the “Butcher of Mariupol” for his role in the Ukraine war, has been removed as deputy defence minister, according to reports.to allow the transit of Ukrainian grain to resume through five European Union countries that had imposed restrictions.urging Putin to free opposition politician Alexey Navalny.
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