The Bank of Canada has maintained its overnight rate target at 0.25 per cent, the effective lower bound, and released its updated outlook for the economy and inflation.

The Bank of Canada maintained its overnight rate target at 0.25 per cent and announced it would be scaling back some of its interventions in the market now that economic conditions are beginning to improve.

Cougar Creek will see more than $25 million in improvements

Transformed from a picturesque mountain town, into a disaster zone, then a construction site, the town of Canmore is nearly back to its old self.

As a result of last year's floods, 130,000 square metres of creek bed and riverbank were destroyed – along with several homes – as water swept rocks, trees and other debris downstream. When the waters finally subsided, damages were estimated at $50 million.

A look back at Calgary's June floods and forward into the future

June 20 started out like any other day in Calgary. With showers in the forecast, parents saw their children off to school with umbrellas in hand and rain boots on their feet, then began their own daily commute along Calgary's soon-to be rain-soaked streets.

Little did they know that by the end of weekend, much of their city would be left underwater during what's since been dubbed the "100-Year Flood."