By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Inflation in Canada dropped to an annualized 2.9 per cent in January, according to a report from Statistics Canada on Tuesday. Lower gasoline prices led to the decline the report said. The consumer price index for December was pegged at 3.4 per cent. Meanwhile, the Bank of Canada has previously suggested it could cut its key interest rate at its next announcement should interest rates be conducive.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
- Teamsters Canada warned on Tuesday that its 9,300 members at Canadian National and Canadian Pacific Kansas City Railways could walk off the job in the coming weeks. The union accused Canada’s two largest railways of wanting to eliminate “all safety-critical rest provisions.” CN retorted that regulatory changes to rest provisions have made it harder to find available crews. CPKC said it’s offered wage hikes, quality of life improvements and predictable schedules.
- China slashed its benchmark mortgage rate by 25 basis points on Tuesday, exceeding analysts’ expectations of a 15-point cut. The reduction to China’s five-year loan prime rate from 4.2 to now 3.95 per cent is meant to prop up the country’s struggling property market and the economy as a whole, according to reports.
- Farmers in Poland were at the forefront on Tuesday in Europe’s winter of continent-wide protests, as they reduced crossings to and from Ukraine to a trickle. Reports said the protesting farmers are worried cheaper grain imports from Ukraine could force many of them into bankruptcy.
