The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Wednesday that the country’s gross domestic product grew by 0.2 per cent in November, largely due to gains in goods-producing industries. Also, StatCan said the economy contracted 1.1 per cent in the third quarter of last year and preliminary data for Q4 pointed to a 0.3 per cent increase. Should those numbers hold then Canada’s GDP would have expanded by 1.5 per cent in 2023.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- The United States Federal Reserve is scheduled to announce its latest interest rate move on Wednesday. The Fed is set to wrap up a two-day meeting that will be followed by the central bank’s announcement at 1 pm Central with its chair, Jerome Powell, holding a news conference 30 minutes later. Analysts’ expectations have called for a freeze, with the Fed leaving its key rates at 5.25 to 5.5 per cent.
- Houthi rebels stated on Wednesday they will press ahead with more attacks on U.S. Navy and Royal Navy warships in the region. The Yemen-based militia, backed by Iran, began attacking commercial vessels in the Red Sea and the Gulf of Aden with drones and missiles on Nov. 19. The Houthis said it’s in support of Palestinians in the Gaza Strip. The U.S. and United Kingdom sent forces to the region to defend cargo ships and to strike back at the rebels.
- Chinese President Xi Jinping assured U.S. President Joe Biden that China would not meddle in the 2024 U.S. elections, according to a CNN exclusive on Wednesday. The two presidents discussed the upcoming election when they met in November. China reiterated its non-interference during a meeting this past weekend between Chinese Foreign Minister Wang Yi and U.S. National Security Advisor Jake Sullivan.
