Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.
- The Bank of Canada held its key overnight rate at 2.75 per cent in Wednesday’s policy announcement. However, the Bank cautioned that the unpredictable trade policies out of the United States have “increased uncertainty, diminished prospects for economic growth and raised inflation expectations.”
- Soybean, corn and wheat futures in the United States were mostly higher on Wednesday, seeing a modest correction after Tuesday’s losses.
- Malaysian palm oil futures were lower for the third straight session on Wednesday, as rising production prospects and losses in other vegetable oil markets weighed on prices.
- Citing the international trade war sparked by U.S. tariffs, the World Trade Organization cut its calls for global economic growth in 2025 and is now forecasting a 0.2 per cent decline in global merchandise trade during the year. That compares with their last projection in October predicting 3.0 per cent growth.
