Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally.
– The Bank of Canada announced on Wednesday it will not change its key interest rate, leaving it at 2.25 per cent. The decision was widely expected from economists, despite the war in the Middle East and trade uncertainty. The annual inflation rate in February was 1.8 per cent, said Statistics Canada, lower than expected. The United States Federal Reserve will also announce its key interest rate decision later today. The U.S. Labor Department reported today its producer price index was up by 3.4 per cent in February compared to the year before.
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Global Markets: Israel claims deaths of Iranian officials
Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – Israel’s…
– Iran launched attacks on Israel, as well as Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates, on Wednesday, killing two people in Tel Aviv. The attacks were retaliation for Israeli attacks on Iran’s offshore South Pars gas field, as well as the Bushehl nuclear power plant. Israel also claimed responsibility for the killing of Iranian intelligence minister Esmail Khatib. Meanwhile, 90 ships including oil tankers have crossed the Strait of Hormuz since the start of the war, many of them “dark transits” evading Western sanctions. It is estimated 16 million barrels of oil were transported through the strait since the start of March.
– French foreign minister Jean-Noel Barrot said at the Europe 2026 conference in Berlin today that Canada “at some point” could become a member of the European Union. The comment drew applause from the audience and laughter from the panel moderator. Last June, Canadian Prime Minister Mark Carney said that while Canada is looking to strengthen its ties to Europe, joining the EU was not in the cards.
– The Canadian federal government filed an appeal with the Supreme Court on Tuesday over its use of the Emergencies Act to shut down the Freedom Convoy in Ottawa in 2022. A Federal Court found the use to be an infringement of constitutional rights in 2024 while the Federal Court of Appeal last year said using the law was “unreasonable”. Conservative MP and civil liberties critic Marilyn Gladu called the federal government’s decision to appeal “disappointing”.
