By Rosalind Russell-
Bank rate expected to rise today
The Bank of Canada’s board meets today, and most experts are expecting another big jump in interest
rates perhaps a one-percentage-point increase.
While the inflation rate fell to 7.6 per cent in July, from the 8.1 per cent level reported in June, most
of that decline was due to lower gas prices.
Analysts say the central bank is concerned that most other costs continue to rise, especially those for food and accommodation.
NDP hosts disabilities experiment
Five New Democrat MPPs have set themselves a challenge going on what they call a “social assistance diet” for the next two weeks.
The five will spend just under 47 dollars a week on groceries.
That’s the average amount available to those on the Ontario Disability Support and Ontario Works programs.
The party’s critic for Community and Social Services, Monique Taylor, says they want to highlight how difficult it is for social assistance recipients to keep up with surging inflation.
The New Democrats have called on the provincial government to double the programs’ payments.
The five have invited Premier Doug Ford and Social Services Minister Merrilee Fullerton to join them in the experiment.
Sit back and wait for the counting
All that the five federal Conservative leadership candidates can do now, is sit back with their fingers crossed.
The deadline for mail-in ballots to be received at party headquarters in Ottawa passed yesterday at 5 pm, and officials say they’ll likely have about 450-thousand votes to count.
That’s about two-thirds of the party’s latest membership count.
The winner is to be announced Saturday.
Photo: We can expect to see a jump in interest rates when the Bank of Canada next meets today. Photo by pixabay