The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Inflation has evolved in line with the outlook in the Bank’s July Monetary Policy Report (MPR). Total CPI inflation remains near the bottom of the target range, reflecting year-over-year price declines for consumer energy products.
The composite price index for apartment building construction rose 0.5% in the second quarter compared with the previous quarter. This increase was the result of higher material prices and labour costs.
In the past, theft and fire damage accounted for the largest share of property insurance claims. But for over a decade, statistics from the Insurance Bureau of Canada (IBC) show that water damage has become a much greater concern for insurers. In 2010, water damage claims accounted for 50% of all insurance payouts. Although we can’t control Mother Nature, we can reduce the risk of water damage by simple prevention.
High humidity and the presence of mold and its toxins in buildings can cause a variety of health problems.
Mold can develop after an isolated incident (a leaky roof, a broken pipe, an overflowing toilet or bath, flooding or water damage during a wind storm, etc.). It can also be gradual (poor caulking, doors and windows that have been damaged or need replacing, materials in the outside walls that are not water tight, blocked gutters, and so on). One thing is certain: it is important to get rid of mold in order to prevent health problems and structural damage to the building.
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