Police in Vancouver say a man has been charged with assault and remains in custody after allegedly waving a kitchen knife as he advanced toward two officers at a busy city intersection.

It happened Wednesday, around the same time police say another man with a knife was allegedly chasing people on city streets in the downtown core.

That suspect has also been arrested and police say he's been charged with assault after allegedly slashing a 61-year-old man, who is expected to recover from his injuries.

Police say they responded to a 911 call reporting a man waving a knife in the direction of passing cars, and when they arrived he "came at" officers while refusing commands to drop the weapon.

Sgt. Steve Addison says in a statement that officers fired multiple rounds from a "less-lethal shotgun" and deployed a Taser as they arrested the 36-year-old man.

Addison says the man was taken to hospital "as a precaution" and he has since been discharged and remains in custody awaiting his next court appearance.

Vancouver Police Chief Adam Palmer told a news conference on Thursday that the suspect in the downtown stabbing had been released from the Fraser Regional Correctional Centre just five days before the alleged attack.