Bank of Canada Cuts Key Interest Rate to 4.5% for Second Consecutive Time
The Bank of Canada (BoC) has recently reduced its key interest rate by 25 basis points, bringing it down to 4.5%. This is the rate at which banks borrow money from each other. As a result, banks are expected to…
Bank of Canada to Address Slowing Inflation with Expected Rate Cut
The Bank of Canada is expected to lower its key interest rate again this Wednesday, following slower inflation. The reason behind this is weak consumer spending and a sluggish economy. Last month, the bank cut the rate by 25 basis…
Canada Faces News Blackout as Facebook Shuts Off News Access
Canada passed the Online News Act last June, which was supposed to make the digital news marketplace fairer. The law aimed to require tech giants like Google and Meta (Facebook and Instagram’s parent company) to pay news outlets when their…
Toronto Hit by Heavy Rain: Floods Cause Power Cuts and Traffic Disruptions
Severe rainstorms in Toronto, Canada’s financial hub, have resulted in widespread flash flooding, power outages, traffic delays, and airline service disruptions. Numerous online videos show public spaces submerged in water, demonstrating the extent of the flood. On Tuesday, Toronto experienced…
Scientists Discover Hidden Microcontinent Beneath Greenland and Canada
A significant geological discovery has been made in the Davis Strait, which lies between Greenland and Canada. Scientists have discovered a new microcontinent called the Davis Strait proto-microcontinent. It provides important information about the earth’s tectonic history and the processes…