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Scorch and Surge: Ontario Faces Sweltering Heat and Successive Storm Threats

Ontario is bracing for a stretch of intense weather as Environment Canada issues heat warnings across multiple regions, paired with a forecast of multi-day storm risks. Temperatures are expected to soar past 30°C, with humidex values pushing conditions into the high 30s and low 40s. The sweltering heat poses increased risks to vulnerable populations, including seniors, young children, and those with pre-existing health conditions. Meteorologists warn that the heat won’t come alone. A line of unstable air sweeping across southern and central Ontario is expected to fuel daily thunderstorms through the weekend and into next week. These storms could bring heavy downpours, damaging winds, and isolated hail, further complicating the forecast. Officials are urging residents to take precautions: stay hydrated, limit outdoor activity during peak hours, and check in on neighbours who may be at risk. Pet owners are also reminded to avoid walking animals during the hottest parts of the day. The co...
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Bank of Canada Poised for Another Rate Cut Amid Easing Inflation

The Bank of Canada is widely expected to cut its key interest rate again this Wednesday, following recent data indicating a continued easing of inflation. This anticipated move comes after the central bank already reduced its policy rate by 25 basis points to 4.75% last month.

Economists and market analysts are betting on another 25 basis point cut, which would bring the rate down to 4.50%2. The decision is driven by a combination of factors, including a slowdown in consumer price inflation, restrained spending, and a generally lackluster economic outlook.

Recent reports show that inflation cooled to 2.7% in June, down from 2.9% in May. This decline has bolstered confidence that the Bank of Canada will continue its efforts to ease monetary policy. Additionally, rising unemployment and subdued growth expectations have further supported the case for another rate cut.

The Bank of Canada is set to announce its decision on Wednesday at 9:45 AM ET, along with the release of its quarterly Monetary Policy Report, which will include updated forecasts for economic growth and inflation.


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