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Bank of Canada turns the Tide

Hello friends,

For the first time in seven years, the Bank of Canada announced today that it was hiking its key overnight rate by a quarter percentage point (25 basis points) bringing it to 0.75 percent as the economy has staged a broadly based economic expansion this year. In a break from tradition, the Bank has taken this action even though inflation remains well below its target rate of 2 percent. Indeed, inflation has hit its lowest level since 1999. The consumer price index (CPI), released in late June, rose only 1.3 percent in May from a year ago, down from an annual pace of 1.6 percent in April. Both Governor Poloz and Senior Deputy Governor Wilkins have emphasized that the Bank must begin to hike rates pre-emptively due to the lagged effect of monetary tightening.

Measures of annual core inflation, a key indicator tracked by the Bank of Canada, which excludes volatile components such as food and energy, fell to its lowest in almost two decades. The average of the central bank’s three core measures declined to 1.3 percent, its lowest level since March 1999. The Bank has recently played down sluggish inflation numbers, suggesting they reflect the lagged effects of past excess capacity. Incoming inflation figures have been well below the Bank’s forecasts and will likely remain low for some time as oil prices are wobbling downward and wage inflation is a mere 1.3 percent–just keeping up with core inflation.

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What’s your vision for public space in Downtown Vancouver?

Vancouver’s public spaces – our plazas, squares, streets, laneways, pathways and waterfront – are where public life happens.
We’re preparing a strategy that will shape a vibrant public space network and coordinate public space delivery in the Downtown over the next 30 years.

  • The Downtown Public Space Strategy will focus on opportunities for public space, as well as connections between these spaces.
  • Starting this summer, the City of Vancouver is looking for your feedback on how to foster exceptional, vibrant and memorable public spaces, places and experiences in Downtown.

Take our survey and share your thoughts on Downtown public spaces – how you use them, what you value, and what opportunities and ideas we should explore! Your feedback will help us shape the vision, values and emerging strategic directions for the Downtown Public Space Strategy. The survey will take about 10 minutes to complete.

Click here to start the survey.
If you are unable to click on the link above, please copy and paste the full URL below into your browser: https://www.talkvancouver.com/R.aspx?r=ox93Ac0ir9Xj1dY7uE03Zu&m=600000273

The survey will be open until August 7, 2017.
Your feedback will help us shape the vision, values and emerging strategic directions for the Downtown Public Space Strategy.

The survey is open until August 7, 2017, so you can pass on this link friends and family so they can take part – vancouver.ca/placesforpeople.
We also have an online mapping exercise so you can tell us about your favourite Downtown public spaces, or spaces you would like to change or add, and why – see it here: http://placesforpeople.engagingplans.net/places.

Make sure you check out the online mapping exercise if you haven’t already!

The Talk Vancouver Team

Content provided by Talk Vancouver